Vibra Hosp Of Southeastern Mass
dba Vibra Hospital Of Southeastern Massachusetts ·
New Bedford, Bristol County, MA
· CCN 222043
Licensed to 4499 Acushnet Avenue Operating Company, Llc
Composite
62.3
rank score
Distress
78
FY2023
Fit
68
vs thesis
Estimated ticket
$18.9M–$75.6M
90 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- occupancy 45-60%
- margin deteriorating
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $26.0M |
| Operating margin | -6.0% |
| Total margin | -4.7% |
| Days cash on hand | 0 |
| Current ratio | 0.79 |
| Occupancy | 53% |
Facility
| Beds | 90 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 90 | $27.9M | $-501K | -3.3% | -1.8% | 27 | 1.13 | 69% | 554 | 57 |
| 2021 | 90 | $28.2M | $1.2M | -2.8% | 4.1% | 0 | 1.48 | 66% | 622 | 49 |
| 2022 | 90 | $26.1M | $-170K | -12.4% | -0.6% | 0 | 1.00 | 59% | 520 | 77 |
| 2023 | 90 | $26.0M | $-1.2M | -6.0% | -4.7% | 0 | 0.79 | 53% | 480 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Vibra Healthcare, Llc | 5% or greater indirect ownership interest | 100 | 2004-08 | |
| Hollinger Holding Company Llc | 5% or greater indirect ownership interest | 86 | 2009-01 | |
| Brad Hollinger | 5% or greater indirect ownership interest | 71 | 2004-08 | |
| James Diebold | 5% or greater indirect ownership interest | 9 | 2009-01 | |
| Brad Hollinger | corporate officer | 2004-08 | ||
| Clint Fegan | corporate officer | 2004-08 | ||
| Emmanuel Berthil | w-2 managing employee | 2000-07 | ||
| Francis Carr | other | 2009-01 | ||
| Hc-4999 Acushnet Avenue Llc | 5% or greater security interest | 2012-10 | ||
| Michael Thomas | corporate officer | 2015-06 | ||
| Midcap Funding Iv Trust | 5% or greater security interest | 2010-06 | ||
| The Carr Living Trust | 5% or greater indirect ownership interest | 2009-01 | ||
| Vibra Management, Llc | operational/managerial control | 2005-05 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.