Catholic Medical Center
Manchester, Hillsborough County, NH
· CCN 300034
Licensed to Manchester Health Services Llc
Composite
56.9
rank score
Distress
60
FY2023
Fit
70
vs thesis
Estimated ticket
$111M–$445M
262 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- debt above 70% of assets
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $481M |
| Operating margin | -7.5% |
| Total margin | -0.4% |
| Days cash on hand | 12 |
| Current ratio | 1.23 |
| Occupancy | 67% |
Facility
| Beds | 262 |
| 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 | 250 | $376M | $6.9M | -12.7% | 1.6% | 133 | 2.31 | 64% | 10,750 | 43 |
| 2021 | 262 | $440M | $68.1M | 0.3% | 13.4% | 92 | 1.81 | 64% | 11,704 | 16 |
| 2022 | 262 | $470M | $6.5M | -4.2% | 1.3% | 35 | 1.95 | 70% | 11,544 | 40 |
| 2023 | 262 | $481M | $-2.3M | -7.5% | -0.4% | 12 | 1.23 | 67% | 12,407 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hca Holdings Inc | 5% or greater indirect ownership interest | 100 | 2025-02 | |
| Hca Inc | 5% or greater indirect ownership interest | 100 | 2025-02 | chain |
| Hca Squared Llc | 5% or greater indirect ownership interest | 100 | 2025-02 | |
| Healthtrust Inc - The Hospital Company | 5% or greater indirect ownership interest | 100 | 2025-02 | |
| Hospital Corp Llc | 5% or greater direct ownership interest | 100 | 2025-02 | |
| Hercules Holding Ii | 5% or greater indirect ownership interest | 27 | 2025-02 | |
| Frisco Holding Ii | 5% or greater indirect ownership interest | 16 | 2026-02 | |
| Eric Smith | contracted managing employee | 2025-02 | ||
| John Skevington | corporate officer | 2025-02 | ||
| John Skevington | w-2 managing employee | 2025-02 | ||
| Pamela Martel | w-2 managing employee | 2025-02 |
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 NH
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 |
|---|---|---|---|---|
| 2021-05-01 | Concord Hospital-Laconia | Lrghealthcare | Concord Hospital - Laconia | 86 |
| 2020-03-01 | Fmh Health Services, Llc | Frisbie Memorial Hospital | Frisbie Memorial Hospital | 39 |