St. Marys Regional Medical Center
Lewiston, Androscoggin County, ME
· CCN 200034
Licensed to St Marys Regional Medical Center
Composite
71.7
rank score
Distress
97
FY2023
Fit
70
vs thesis
Estimated ticket
$49.0M–$196M
140 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $211M |
| Operating margin | -22.8% |
| Total margin | -13.3% |
| Days cash on hand | 9 |
| Current ratio | 0.52 |
| Occupancy | 37% |
Facility
| Beds | 140 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 140 | $173M | $-12.3M | -24.7% | -6.0% | 18 | 2.17 | 41% | 4,277 | 68 |
| 2021 | 140 | $212M | $-8.9M | -17.2% | -3.7% | 5 | 1.27 | 43% | 4,462 | 71 |
| 2022 | 140 | $196M | $-51.4M | -32.8% | -24.6% | 7 | 0.65 | 49% | 3,913 | 90 |
| 2023 | 140 | $211M | $-30.4M | -22.8% | -13.3% | 9 | 0.52 | 37% | 3,405 | 97 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Covenant Health | 5% or greater indirect ownership interest | 100 | 1992-01 | |
| St. Marys Health System | 5% or greater direct ownership interest | 100 | 1983-09 | |
| Anne Brown | corporate director | 9 | 2019-05 | |
| David Geiger | corporate director | 9 | 2019-05 | |
| Denis Mailhot | corporate director | 9 | 2022-07 | |
| Jeffrey Davila | corporate director | 9 | 2019-05 | |
| John Isaacson | corporate director | 9 | 2022-03 | |
| Kathy Mcmanus | corporate director | 9 | 2016-11 | |
| Lena Hartley | corporate director | 9 | 2016-06 | |
| Mark Anthoine | corporate officer | 9 | 2008-06 | |
| Mark Anthoine | corporate director | 9 | 2008-06 | |
| Ralph Harder | corporate director | 9 | 2016-09 | |
| Steven Ouellette | corporate director | 9 | 2019-05 | |
| Joseph Wood | contracted managing employee | 2025-03 | ||
| Joseph Wood | corporate officer | 2025-03 | ||
| Joseph Wood | operational/managerial control | 2025-03 | ||
| Stephen Grubbs | operational/managerial control | 2019-04 |
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 |