Kennedy Krieger
dba Kennedy Krieger Institute ·
Baltimore, Baltimore County, MD
· CCN 213301
Licensed to Kennedy Krieger Childrens Hospital Inc
Composite
57.9
rank score
Distress
61
FY2024
Fit
76
vs thesis
Estimated ticket
$25.5M–$102M
50 beds ·
within envelope
Ownership
nonprofit
CH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $226M |
| Operating margin | -68.6% |
| Total margin | 1.6% |
| Days cash on hand | 13 |
| Current ratio | 1.42 |
| Occupancy | 62% |
Facility
| Beds | 50 |
| Facility type | CH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $510K |
| 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 | 50 | $189M | $21.7M | -43.8% | 7.4% | 52 | 1.31 | 65% | 280 | 48 |
| 2022 | 50 | $177M | $-15.9M | -70.9% | -5.3% | 29 | 1.26 | 55% | 305 | 68 |
| 2023 | 50 | $203M | $2.9M | -65.8% | 0.9% | 19 | 1.33 | 59% | 292 | 59 |
| 2024 | 50 | $226M | $6.4M | -68.6% | 1.6% | 13 | 1.42 | 62% | 283 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bradley Schlaggar | corporate officer | 100 | 2018-08 | |
| Kennedy Krieger Institute | 5% or greater direct ownership interest | 100 | 1986-12 | |
| Bank Of America, N.a. | 5% or greater mortgage interest | 15 | 2011-06 | |
| Truist | 5% or greater mortgage interest | 10 | 2010-12 | |
| Joann Kubica | w-2 managing employee | 1 | 2020-02 | |
| James Anders | corporate officer | 1986-11 | ||
| Lisa Badie | 5% or greater indirect ownership interest | 2024-11 | ||
| Lisa Badie | w-2 managing employee | 2024-11 | ||
| Michael Neuman | corporate officer | 1990-02 | ||
| Michael Neuman | operational/managerial control | 1990-02 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.