Morristown Medical Center
Morristown, Morris County, NJ
· CCN 310015
Licensed to Ahs Hospital Corp
Composite
9.5
rank score
Distress
4
FY2023
Fit
55
vs thesis
Estimated ticket
$356M–$1.4B
712 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.8B |
| Operating margin | 10.2% |
| Total margin | 31.1% |
| Days cash on hand | 115 |
| Current ratio | 5.37 |
| Occupancy | 86% |
Facility
| Beds | 712 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 | 732 | $1.3B | $-315M | -19.7% | -21.9% | 0 | 5.17 | 63% | 38,588 | 67 |
| 2021 | 715 | — | $-1.4B | — | — | — | — | 79% | 41,675 | — |
| 2022 | 705 | $1.7B | $-184M | 10.3% | -10.3% | 169 | 4.58 | 83% | 42,074 | 17 |
| 2023 | 712 | $1.8B | $596M | 10.2% | 31.1% | 115 | 5.37 | 86% | 41,777 | 4 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Joseph Walter | corporate officer | 100 | 2022-09 | |
| Ahs Hospital Corp | operational/managerial control | 2007-11 | ||
| Joseph Walter | w-2 managing employee | 2022-09 | ||
| Laura Ann Kelly | corporate officer | 2025-05 | ||
| Mary O'halloran | corporate officer | 2016-05 | ||
| Saad Ehtisham | corporate officer | 2025-07 |
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 |