Bournewood Hospital
dba Bournewood Hospital (And Bournewood Health Systems) ·
Brookline, Norfolk County, MA
· CCN 224022
Licensed to First Psychiatric Planners, Inc
Composite
69.9
rank score
Distress
86
FY2023
Fit
78
vs thesis
Estimated ticket
$19.6M–$78.5M
102 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- 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
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $38.2M |
| Operating margin | -21.8% |
| Total margin | -17.2% |
| Days cash on hand | 0 |
| Current ratio | 0.75 |
| Occupancy | 91% |
Facility
| Beds | 102 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 102 | $36.7M | $3.9M | 11.7% | 10.7% | 18 | 1.06 | 92% | 3,556 | 30 |
| 2021 | 102 | $37.9M | $4.1M | 8.8% | 10.7% | 13 | 1.20 | 88% | 2,836 | 26 |
| 2022 | 102 | $37.0M | $3.2M | 3.2% | 8.2% | 2 | 1.62 | 83% | 2,527 | 22 |
| 2023 | 102 | $38.2M | $-6.8M | -21.8% | -17.2% | 0 | 0.75 | 91% | 3,049 | 86 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alita Care Llc | 5% or greater direct ownership interest | 100 | 2017-03 | |
| Evan Wildstein | corporate officer | 2017-03 | ||
| Evan Wildstein | corporate director | 2017-03 | ||
| Fabiola Bartelle | w-2 managing employee | 2023-08 | ||
| James Dredge | corporate officer | 2017-03 | ||
| James Dredge | corporate director | 2017-03 | ||
| Maria Jackson | corporate officer | 2023-04 | ||
| Maria Jackson | corporate director | 2023-04 | ||
| Shant Mardirossian | corporate officer | 2017-03 | ||
| Shant Mardirossian | corporate director | 2017-03 |
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 MA
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 |
|---|---|---|---|---|
| 2019-02-15 | Wp Acquisition Sub Llc | Hvl Corporation | Haverhill Pavilion | 71 |