Carroll Hospital Center
dba Chc Med Lab ·
Westminster, Carroll County, MD
· CCN 210033
Licensed to Carroll Hospital Center, Inc.
Composite
37.5
rank score
Distress
14
FY2024
Fit
78
vs thesis
Estimated ticket
$82.0M–$328M
164 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- margin deteriorating sharply
- 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 · FY2024
| Net patient revenue | $252M |
| Operating margin | 3.4% |
| Total margin | 12.2% |
| Days cash on hand | 116 |
| Current ratio | 2.96 |
| Occupancy | 77% |
Facility
| Beds | 164 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 161 | $255M | $71.5M | 0.9% | 22.1% | 113 | 2.19 | 68% | 7,997 | 11 |
| 2022 | 153 | $223M | $-17.8M | -20.0% | -6.6% | 90 | 2.61 | 83% | 8,814 | 44 |
| 2023 | 165 | $227M | $19.4M | -3.3% | 7.6% | 56 | 3.39 | 75% | 9,177 | 32 |
| 2024 | 164 | $252M | $33.9M | 3.4% | 12.2% | 116 | 2.96 | 77% | 8,983 | 14 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Garrett Hoover | corporate officer | 100 | 2020-03 | |
| Lifebridge Health Inc | other | 100 | 2015-04 | |
| Alec Yeo | corporate director | 2017-07 | ||
| Brian Moffet | corporate director | 2023-07 | ||
| Carroll County Health Services Corp | other | 1986-03 | ||
| Christopher Grove | corporate director | 2023-07 | ||
| Cris Coleman | corporate officer | 2015-04 | ||
| Cris Coleman | w-2 managing employee | 2017-10 | ||
| David Bollinger | corporate director | 2016-07 | ||
| Deborah Seidel | corporate director | 2023-07 | ||
| Drewry White | corporate director | 2016-07 | ||
| Joseph Koons | operational/managerial control | 2020-07 | ||
| Kiran Kuna | corporate director | 2023-07 | ||
| Laura Callahan | operational/managerial control | 2021-01 | ||
| Marcus Primm | corporate director | 2014-12 | ||
| Mark Debinski | corporate director | 2023-07 | ||
| Martin Hill | corporate director | 2011-10 | ||
| Michael Myers | corporate officer | 2016-04 | ||
| Michael Myers | w-2 managing employee | 2016-04 | ||
| Neil Meltzer | corporate director | 2015-04 | ||
| Pamela Goldhammer | w-2 managing employee | 2020-10 | ||
| Stanley Tevis | corporate director | 2017-07 | ||
| Susan Chambers | corporate director | 2023-07 | ||
| Thomas Zirpoli | corporate director | 2017-07 | ||
| Todd Herring | corporate director | 2023-07 |
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 |