Frederick Memorial Hospital
dba Frederick Health Hospital ·
Frederick, Frederick County, MD
· CCN 210005
Licensed to Frederick Health Hospital Inc
Composite
54.1
rank score
Distress
58
FY2024
Fit
70
vs thesis
Estimated ticket
$116M–$462M
272 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- under 30 days cash on hand
- current liabilities exceed current assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $401M |
| Operating margin | -5.5% |
| Total margin | 4.7% |
| Days cash on hand | 1 |
| Current ratio | 0.88 |
| Occupancy | 75% |
Facility
| Beds | 272 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 284 | $398M | $83.9M | 3.7% | 18.1% | 91 | 1.36 | 71% | 14,331 | 8 |
| 2022 | 284 | $400M | $-7.6M | -2.1% | -1.9% | 28 | 1.13 | 75% | 14,633 | 49 |
| 2023 | 279 | $389M | $12.2M | -6.2% | 2.9% | 16 | 1.21 | 74% | 14,293 | 48 |
| 2024 | 272 | $401M | $20.9M | -5.5% | 4.7% | 1 | 0.88 | 75% | 14,573 | 58 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrea Vaughan | corporate director | 2023-01 | ||
| Arthur Sagoskin | corporate director | 2023-01 | ||
| Daryl Boffman | corporate director | 2023-01 | ||
| Denise Rollins | corporate director | 2023-01 | ||
| George Littrell Iii | corporate director | 2023-01 | ||
| Gerrit Schipper | corporate director | 2013-10 | ||
| Gordon Cooley | corporate director | 2023-01 | ||
| Harriet Brown | corporate director | 2023-01 | ||
| James Manning | corporate director | 2010-10 | ||
| James Plamondon | corporate director | 2023-01 | ||
| Jason Lee | corporate director | 2023-01 | ||
| Karlys Kline | corporate director | 2023-01 | ||
| Michele Ghim | corporate director | 2023-01 | ||
| Mihir Jani | corporate director | 2023-01 | ||
| Nicolette Moberly | corporate director | 2023-01 | ||
| Patricia Hanberry | corporate director | 2023-01 | ||
| Richard Ohnmacht | corporate director | 2023-01 | ||
| Shelby Boggs | w-2 managing employee | 2021-07 | ||
| Shuchi Sharma | corporate director | 2023-01 | ||
| Stephen Johnson | corporate director | 2015-10 | ||
| Thomas Kleinhanzl | corporate officer | 2004-12 | ||
| Thomas Kleinhanzl | corporate director | 2004-12 |
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 MD
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 |
|---|---|---|---|---|
| 2024-02-01 | University Of Maryland Medical Center, Llc | University Of Maryland Medical... | University Of Maryland Med Sys | 762 |
| 2022-07-01 | Grmc, Inc. | Garrett County Memorial Hospital | Garrett County Memorial Hospital | 20 |
| 2022-03-01 | Sinai Hospital Of Baltimore, Inc | Grace Medical Center Inc | Sinai Hospital Of Baltimore Inc. | 437 |
| 2020-03-01 | Tidalhealth Peninsula Regional Inc | Mccready Foundation Inc | Tidalhealth Peninsula Regional Inc | 284 |
| 2019-10-27 | Adventist Healthcare Fort... | Fort Washington Medical Center Inc | Fort Washington Medical Center | 34 |
| 2018-08-01 | Adventist Healthcare, Inc. | Adventist Healthcare, Inc. | Ahc Shady Grove Medical Center | 397 |