Medstar Harbor Hospital
Baltimore, MD
· CCN 210034
Licensed to Harbor Hospital, Inc
Composite
58.2
rank score
Distress
60
FY2024
Fit
78
vs thesis
Estimated ticket
$53.1M–$212M
125 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- current liabilities exceed current assets
- 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 | $190M |
| Operating margin | -12.6% |
| Total margin | -1.8% |
| Days cash on hand | 0 |
| Current ratio | 0.98 |
| Occupancy | 74% |
Facility
| Beds | 125 |
| 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 | 131 | $188M | $-6.5M | -10.2% | -3.2% | 0 | 0.53 | 81% | 6,783 | 76 |
| 2022 | 131 | $173M | $-4.6M | -11.8% | -2.4% | 0 | 0.93 | 79% | 6,484 | 67 |
| 2023 | 142 | $178M | $-6.3M | -13.3% | -3.2% | 0 | 0.90 | 64% | 6,347 | 71 |
| 2024 | 125 | $190M | $-3.8M | -12.6% | -1.8% | 0 | 0.98 | 74% | 6,846 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Harbor Hospital, Inc | 5% or greater direct ownership interest | 100 | 1999-02 | |
| Medstar Health, Inc. | 5% or greater indirect ownership interest | 100 | 1999-02 | |
| Carlos Zigel | corporate director | 2016-10 | ||
| Dawn Gretz | corporate director | 2013-03 | ||
| Deana Stout | corporate officer | 2022-04 | ||
| Deana Stout | w-2 managing employee | 2022-04 | ||
| James Fields | corporate director | 2015-10 | ||
| Jill Donaldson | w-2 managing employee | 2020-03 | ||
| Kathryn Perry | w-2 managing employee | 2020-10 | ||
| Keith Shiner | corporate officer | 2017-09 | ||
| Kenneth Samet | corporate director | 2012-10 | ||
| Kerunne Ketlogetswe | corporate director | 2020-11 | ||
| Maria Brisueno-Burnett | other | 1998-11 | ||
| Meredith Chaiken | corporate director | 2022-08 | ||
| Mohsen Gharib | corporate director | 2020-11 | ||
| Swata Gandhi | corporate director | 2018-05 | ||
| Thomas Geddes | corporate director | 2016-03 | ||
| Vincent Connelly | corporate director | 2016-10 |
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 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 |