Whittier Hospital-Bradford
dba Whittier Rehabilitation Hospital ·
Bradford, Essex County, MA
· CCN 222047
Licensed to Brn Corporation
Composite
52.7
rank score
Distress
62
FY2023
Fit
62
vs thesis
Estimated ticket
$8.9M–$35.7M
35 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 30-60 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $26.6M |
| Operating margin | -11.3% |
| Total margin | -3.4% |
| Days cash on hand | 59 |
| Current ratio | 1.19 |
| Occupancy | 57% |
Facility
| Beds | 35 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 35 | $27.6M | $-131K | -8.6% | -0.4% | 24 | 1.20 | 77% | 381 | 56 |
| 2021 | 35 | $29.1M | $456K | -4.6% | 1.5% | 48 | 1.38 | 72% | 417 | 39 |
| 2022 | 35 | $27.6M | $150K | -5.1% | 0.5% | 12 | 1.81 | 63% | 421 | 48 |
| 2023 | 35 | $26.6M | $-975K | -11.3% | -3.4% | 59 | 1.19 | 57% | 428 | 62 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Greenleaf Vi Ii Inc | operational/managerial control | 100 | 2012-12 | |
| Whittier Healthcare Holdings Ii Inc | 5% or greater direct ownership interest | 100 | 2012-12 | |
| Whittier Healthcare Trust | 5% or greater indirect ownership interest | 67 | 2012-12 | |
| Alfred Arcidi | 5% or greater indirect ownership interest | 33 | 2007-10 | |
| Michael Arcidi | 5% or greater indirect ownership interest | 33 | 2007-10 | |
| Philip Arcidi | 5% or greater indirect ownership interest | 33 | 2007-10 | |
| Alfred Arcidi | corporate director | 2019-02 | ||
| Alfred Arcidi | corporate officer | 2019-02 | ||
| Alfred Arcidi | corporate director | 2003-10 | ||
| Deborah D'apolito | w-2 managing employee | 2017-06 | ||
| Michael Arcidi | corporate officer | 2003-10 | ||
| Michael Arcidi | corporate director | 2003-10 | ||
| Philip Arcidi | corporate officer | 2019-02 | ||
| Philip Arcidi | corporate director | 2003-10 | ||
| Robert Iannaco | w-2 managing employee | 2003-10 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.