Karmanos Cancer Hospital
dba Karmanos Cancer Center ·
Detroit, Wayne County, MI
· CCN 230297
Licensed to Barbara Ann Karmanos Cancer Hospital
Composite
62.9
rank score
Distress
69
FY2023
Fit
75
vs thesis
Estimated ticket
$43.4M–$173M
102 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $336M |
| Operating margin | -24.9% |
| Total margin | 8.7% |
| Days cash on hand | 14 |
| Current ratio | -0.01 |
| Occupancy | 56% |
Facility
| Beds | 102 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 123 | $222M | $20.5M | -30.6% | 6.6% | 66 | 3.01 | 51% | 2,660 | 40 |
| 2021 | 123 | $272M | $20.4M | -23.9% | 5.7% | 5 | 2.73 | 53% | 2,694 | 52 |
| 2022 | 106 | $285M | $24.3M | -27.8% | 6.3% | 8 | 4.18 | 54% | 2,183 | 52 |
| 2023 | 102 | $336M | $39.7M | -24.9% | 8.7% | 14 | -0.01 | 56% | 2,176 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Barbara Ann Karmanos Cancer Institute | 5% or greater direct ownership interest | 100 | 2004-09 | |
| Boris Pasche | corporate director | 2023-12 | ||
| Brian Gamble | corporate officer | 2015-03 | ||
| Brian Gamble | w-2 managing employee | 2015-03 | ||
| Brian Gamble | operational/managerial control | 2015-03 | ||
| Daniel Ret | corporate director | 2015-01 | ||
| David Duprey | corporate director | 2023-12 | ||
| Deborah Savoie | corporate officer | 2026-05 | ||
| Debra Partrich | corporate director | 2025-07 | ||
| Geaneen Arends | corporate director | 2023-02 | ||
| George Yoo | corporate director | 2008-10 | ||
| Hussein Aoun | corporate director | 2025-03 | ||
| Kelley Lafontaine | corporate officer | 2026-05 | ||
| Mclaren Health Care Corporation | operational/managerial control | 2014-01 | chain | |
| Michael Duhaime | corporate director | 2023-02 | ||
| Philip Incarnati | corporate director | 2014-01 | ||
| Regina Doxtader | corporate officer | 2023-02 | ||
| Regina Doxtader | corporate director | 2023-02 | ||
| Regina Doxtader | operational/managerial control | 2023-02 | ||
| Scott Hunter | corporate director | 2009-03 | ||
| Shari Ferber-Kaufman | corporate director | 2024-08 | ||
| Sylvester Hester | corporate director | 2024-08 | ||
| Thomas Kalas | corporate director | 2024-08 | ||
| Timothy Monahan | corporate director | 2005-01 | ||
| Wael Sakr | corporate director | 2024-05 |
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 |