Mercy Hospital
dba Northern Light Mercy Hospital ·
Portland, Cumberland County, ME
· CCN 200008
Licensed to Mercy Hospital
Composite
53.7
rank score
Distress
50
FY2023
Fit
78
vs thesis
Estimated ticket
$32.7M–$131M
77 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $270M |
| Operating margin | -3.3% |
| Total margin | 2.8% |
| Days cash on hand | 0 |
| Current ratio | 0.69 |
| Occupancy | 66% |
Facility
| Beds | 77 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 103 | $199M | $-11.0M | -12.0% | -5.2% | 82 | 1.44 | 40% | 3,341 | 63 |
| 2021 | 103 | $231M | $7.0M | -4.9% | 2.8% | 2 | 1.30 | 38% | 3,649 | 51 |
| 2022 | 77 | $240M | $-19.5M | -11.6% | -7.9% | 0 | 0.47 | 51% | 3,646 | 82 |
| 2023 | 77 | $270M | $8.0M | -3.3% | 2.8% | 0 | 0.69 | 66% | 3,746 | 50 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charlie Therrien | corporate officer | 100 | 2016-11 | |
| Charlie Therrien | operational/managerial control | 100 | 2016-11 | |
| Eastern Maine Healthcare Services | 5% or greater direct ownership interest | 100 | 2013-10 | |
| Anne-Marie Bourque | corporate officer | 2019-01 | ||
| Art Batson | corporate director | 2019-01 | ||
| Ben Russell | corporate officer | 2019-01 | ||
| Christopher Howard | corporate officer | 2015-07 | ||
| David Kennedy | w-2 managing employee | 2022-08 | ||
| Debra Taylor | corporate director | 2013-10 | ||
| Doug Mckeown | corporate officer | 2019-01 | ||
| Joseph Gray | corporate director | 2010-06 | ||
| Karen Pardue | corporate officer | 2020-01 | ||
| Laura Blaisdell | corporate officer | 2019-01 | ||
| Lisa Toner | corporate officer | 2019-01 | ||
| Marie Vienneau | corporate officer | 2026-01 | ||
| Mary Morey | corporate director | 2014-10 | ||
| Mike Varney | corporate officer | 2019-01 | ||
| Patricia Pora | corporate officer | 2019-01 | ||
| Paul Lones | corporate officer | 2019-01 | ||
| William Schirmer | corporate director | 2011-04 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
Who has been buying in ME
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2021-01-01 | Mainehealth | Mid Coast Hospital | Mid Coast Hospital | 93 |