Garden City Hospital Osteopathic
dba Garden City Hospital ·
Garden City, Wayne County, MI
· CCN 230244
Licensed to Prime Healthcare Services - Garden City Llc
Composite
51.0
rank score
Distress
44
FY2023
Fit
78
vs thesis
Estimated ticket
$64.5M–$258M
129 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $151M |
| Operating margin | 11.4% |
| Total margin | 15.3% |
| Days cash on hand | 4 |
| Current ratio | -0.19 |
| Occupancy | 56% |
Facility
| Beds | 129 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 146 | $152M | $41.6M | 22.5% | 26.1% | 39 | 2.19 | 61% | 8,137 | 17 |
| 2021 | 146 | $124M | $17.7M | 4.6% | 13.0% | 41 | 3.00 | 56% | 6,539 | 19 |
| 2022 | 151 | $148M | $27.5M | 11.5% | 17.4% | 8 | 6.37 | 61% | 7,191 | 22 |
| 2023 | 129 | $151M | $24.2M | 11.4% | 15.3% | 4 | -0.19 | 56% | 6,777 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Prime Healthcare Holdings Inc | 5% or greater indirect ownership interest | 100 | 2014-07 | |
| Prime Healthcare Services, Inc | 5% or greater direct ownership interest | 100 | 2014-07 | |
| Alicia Vazquez | corporate officer | 2001-10 | ||
| Alicia Vazquez | w-2 managing employee | 2001-10 | ||
| Christopher Doan | corporate officer | 2015-03 | ||
| Christopher Fulks | corporate officer | 2021-02 | ||
| Steven Aleman | corporate officer | 2020-06 |
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 MI
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 |
|---|---|---|---|---|
| 2018-07-01 | St Joseph Mercy Chelsea Inc | Trinity Health-Michigan | Chelsea Hospital | 79 |