Princeton Healthcare System
dba Penn Medicine Princeton Medical Center ·
Plainsboro, Middlesex County, NJ
· CCN 310010
Licensed to Princeton Healthcare System, A New Jersey Nonprofit Corporation
Composite
56.4
rank score
Distress
56
FY2024
Fit
78
vs thesis
Estimated ticket
$87.5M–$350M
206 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin under 2%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $592M |
| Operating margin | -5.5% |
| Total margin | 0.2% |
| Days cash on hand | 0 |
| Current ratio | 1.28 |
| Occupancy | 81% |
Facility
| Beds | 206 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 206 | $506M | $137M | 5.8% | 22.3% | 94 | 1.88 | 74% | 14,269 | 4 |
| 2022 | 206 | $557M | $61.1M | 6.8% | 10.5% | 54 | 1.84 | 80% | 14,725 | 17 |
| 2023 | 206 | $588M | $-11.1M | -5.7% | -1.8% | 16 | 1.81 | 83% | 15,477 | 52 |
| 2024 | 206 | $592M | $1.3M | -5.5% | 0.2% | 0 | 1.28 | 81% | 15,273 | 56 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Princeton Healthcare System Holding Inc | 5% or greater direct ownership interest | 100 | 1997-01 | |
| Princeton Healthcare System Holding Inc | operational/managerial control | 100 | 1997-01 | |
| Trustees Of The University Of Pennsylvania | 5% or greater indirect ownership interest | 100 | 2018-01 | |
| Aline Holmes | corporate director | 2024-06 | ||
| Anish Sheth | corporate director | 2025-03 | ||
| Anna Battat | corporate director | 2026-03 | ||
| Calvin Butts | corporate director | 2021-03 | ||
| Donald Hofmann | corporate director | 2012-01 | ||
| Elliot Krauss | corporate director | 2024-06 | ||
| Guilherme Valladares | corporate officer | 2014-05 | ||
| Guilherme Valladares | corporate director | 2014-05 | ||
| Guilherme Valladares | w-2 managing employee | 2013-10 | ||
| James Demetriades | corporate officer | 2021-03 | ||
| James Demetriades | corporate director | 2021-03 | ||
| Julia Puchtler | operational/managerial control | 2020-07 | ||
| Kevin Mahoney | corporate director | 2019-06 | ||
| Kim Pimley | corporate director | 2010-02 | ||
| Lori Katz | corporate director | 2021-03 | ||
| Michael Mardy | corporate director | 2020-03 | ||
| Michael Rossi | w-2 managing employee | 2018-01 | ||
| Myron Gellman | corporate director | 2021-03 | ||
| Philip Carchman | corporate director | 2020-03 | ||
| Robert Vonderheide | corporate director | 2021-07 | ||
| Rosemarie Costagliola | corporate director | 2013-04 | ||
| Tara Oakman | corporate director | 2024-06 |
Showing 25 of 27. Full list via /api/targets/310010.
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 NJ
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 |
|---|---|---|---|---|
| 2022-12-21 | Capital Health System, Inc. | St. Francis Medical Center | Capital Health Regional Medical Ctr | 179 |
| 2022-01-01 | Eoh Acquisition Group, Llc | Prospect Eogh Inc | East Orange General Hospital | 159 |
| 2021-07-01 | Hmh Hospitals Corporation | Community Hospital Group Inc | Jfk University Medical Center | 353 |
| 2018-07-01 | Ahs Hospital Corp | General Conference Of Seventh Day... | Hackettstown Medical Center | 95 |
| 2018-01-01 | Njmhmc, Llc | Mha Llc | Hudson Regional Hospital | 102 |
| 2018-01-01 | Hmh Hospitals Corporation | Meridian Hospitals Corporation | Riverview Medical Center | 267 |
| 2018-01-01 | Hmh Hospitals Corporation | Meridian Hospitals Corporation | Bayshore Medical Center | 175 |
| 2018-01-01 | Hmh Hospitals Corporation | Meridian Hospitals Corporation | Hmh -Ocean University Medical Center | 313 |
| 2018-01-01 | Hmh Hospitals Corporation | Meridian Hospitals Corporation | Jersey Shore University Med Ctr | 580 |
| 2018-01-01 | Hmh Hospitals Corporation | Meridian Hospitals Corporation | Southern Ocean Medical Center | 156 |
| 2018-01-01 | Hmh Hospitals Corporation | Palisades Medical Center | Palisades Medical Center | 186 |
| 2018-01-01 | Hmh Hospitals Corporation | Raritan Bay Medical Center | Raritan Bay Medical Center | 270 |