Garrett County Memorial Hospital
dba Garrett Regional Medical Center ·
Oakland, MD
· CCN 210017
Licensed to Grmc, Inc.
Composite
22.2
rank score
Distress
4
FY2023
Fit
51
vs thesis
Estimated ticket
$2.0M–$4.0M
20 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $82.0M |
| Operating margin | 11.2% |
| Total margin | 15.1% |
| Days cash on hand | 126 |
| Current ratio | 3.80 |
| Occupancy | 72% |
Facility
| Beds | 20 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 26 | $61.9M | $9.4M | -8.6% | 12.2% | 233 | 3.21 | 55% | 1,056 | 24 |
| 2022 | 26 | $67.6M | $-6.5M | -14.7% | -9.2% | 99 | 3.88 | 63% | 1,079 | 49 |
| 2023 | 20 | $82.0M | $13.0M | 11.2% | 15.1% | 126 | 3.80 | 72% | 1,380 | 4 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mark Boucot | corporate officer | 100 | 2022-07 | |
| West Virginia United Health System, Inc | 5% or greater direct ownership interest | 100 | 2022-07 | |
| Kathy Shaffer | corporate director | 9 | 2022-07 | |
| Michael Grady | corporate director | 9 | 2022-07 | |
| Patricia Mash | corporate director | 9 | 2022-07 | |
| Tonya Sturm | corporate director | 9 | 2022-07 | |
| Tracy Bemiller | corporate director | 9 | 2022-07 | |
| William Yant | corporate director | 9 | 2022-07 | |
| Albert Wright | w-2 managing employee | 2026-03 | ||
| Albert Wright | operational/managerial control | 2022-07 | ||
| Amy Boothe | w-2 managing employee | 2026-03 | ||
| Henrietta Lease | corporate director | 2026-03 | ||
| Herbert Lambert | corporate director | 2026-03 | ||
| James Venturella | corporate director | 2026-03 | ||
| Keith Sanders | corporate director | 2026-03 | ||
| Laura Fike | corporate director | 2026-03 | ||
| Linda Fike | corporate director | 2026-03 | ||
| Lori Dixon | corporate officer | 2022-07 | ||
| Margaret Jamison | corporate director | 2026-03 | ||
| Mary Simpson | corporate director | 2026-03 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2022-07-01 | change of ownership | Grmc, Inc. | Garrett County Memorial Hospital |
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 |