Calvert Memorial Hospital
dba Calverthealth Medical Center ·
Prince Frederick, Calvert County, MD
· CCN 210039
Licensed to Calverthealth Medical Center Inc
Composite
54.6
rank score
Distress
52
FY2024
Fit
78
vs thesis
Estimated ticket
$33.1M–$133M
78 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current liabilities exceed current assets
- margin slipping
- 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 | $161M |
| Operating margin | -2.1% |
| Total margin | -0.6% |
| Days cash on hand | 10 |
| Current ratio | 0.92 |
| Occupancy | 76% |
Facility
| Beds | 78 |
| 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 | 70 | $144M | $888K | 0.7% | 0.6% | 41 | 1.25 | 80% | 5,233 | 30 |
| 2022 | 70 | $148M | $5.1M | 1.3% | 3.4% | 52 | 1.50 | 83% | 5,257 | 23 |
| 2023 | 78 | $150M | $-6.6M | -7.2% | -4.3% | 15 | 1.12 | 77% | 5,282 | 60 |
| 2024 | 78 | $161M | $-921K | -2.1% | -0.6% | 10 | 0.92 | 76% | 5,341 | 52 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Anthony Butters | corporate director | 2022-11 | ||
| Barbara Gardner | corporate director | 2022-11 | ||
| Calvert Health Systems Inc | 5% or greater direct ownership interest | 2007-11 | ||
| Carolyn Heithaus | corporate officer | 2017-11 | ||
| Carolyn Heithaus | w-2 managing employee | 2017-11 | ||
| Carolyn Heithaus | operational/managerial control | 2017-11 | ||
| Chang Choi | corporate director | 2022-11 | ||
| Christopher Garcia | corporate director | 2022-11 | ||
| David Showers | corporate director | 2014-11 | ||
| Gail Harkins | corporate director | 2022-11 | ||
| Jeremy Bradford | corporate officer | 2023-03 | ||
| Jeremy Bradford | corporate director | 2023-03 | ||
| Jeremy Bradford | w-2 managing employee | 2023-03 | ||
| Jeremy Bradford | operational/managerial control | 2023-03 | ||
| Karen O'brien | corporate director | 2017-11 | ||
| Kathy Dickinson | corporate director | 2022-11 | ||
| Sally Showalter | corporate director | 2017-01 | ||
| Samuel Foster | corporate director | 2017-01 | ||
| Samuel Nazzaro | corporate director | 2014-11 | ||
| Stephanie Dabulis | corporate director | 2022-11 | ||
| Terri Wolfley | corporate director | 2014-11 | ||
| Wilson Parran | corporate director | 2022-11 |
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 |