Down East Community Hospital
Machias, Washington County, ME
· CCN 201311
Licensed to Down East Community Hospital
Composite
38.2
rank score
Distress
45
FY2023
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- total margin negative
- 60-90 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $60.1M |
| Operating margin | -4.9% |
| Total margin | -1.3% |
| Days cash on hand | 88 |
| Current ratio | 3.12 |
| Occupancy | 30% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $46.9M | $2.8M | -1.7% | 5.6% | 146 | 1.69 | 31% | 657 | 26 |
| 2021 | 25 | $53.1M | $12.4M | 2.0% | 19.2% | 161 | 2.35 | 30% | 591 | 9 |
| 2022 | 25 | $57.2M | $1.9M | -4.9% | 3.1% | 92 | 3.53 | 33% | 649 | 26 |
| 2023 | 25 | $60.1M | $-810K | -4.9% | -1.3% | 88 | 3.12 | 30% | 518 | 45 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Betty Marshall | operational/managerial control | 2021-06 | ||
| Brandy Wood | w-2 managing employee | 2020-01 | ||
| Christian Inegbeniji | operational/managerial control | 2021-06 | ||
| Corey Schwinn | operational/managerial control | 2016-06 | ||
| Gwen Jones | operational/managerial control | 2021-06 | ||
| Ian Pratt | operational/managerial control | 2021-06 | ||
| Jacqueline O'clair | operational/managerial control | 2021-06 | ||
| John Corrigan | operational/managerial control | 2021-06 | ||
| Judd Bragg | operational/managerial control | 2021-06 | ||
| Kathryn Land | operational/managerial control | 2011-04 | ||
| Lisa Carlisle | operational/managerial control | 2014-06 | ||
| Lynnette Parr | corporate officer | 2004-08 | ||
| Lynnette Parr | corporate director | 2004-08 | ||
| Nate Martell | operational/managerial control | 2021-06 | ||
| Rita Ten | operational/managerial control | 2014-06 | ||
| Rose St. Louis | operational/managerial control | 2013-06 | ||
| Steve Lail | corporate director | 2016-07 | ||
| Vicki Brown | w-2 managing employee | 2000-10 |
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 |
|---|---|---|---|---|
| 2021-07-01 | Calais Community Hospital | Calais Regional Hospital | Calais Community Hospital | 25 |
| 2020-03-01 | Mrh Corp | Hospital Administrative District 4 | Mayo Regional Hospital | 25 |