Robert Wood Johnson Hospital @ Rahw
Rahway, Union County, NJ
· CCN 310024
Licensed to Robert Wood Johnson University Hospital At Rahway
Composite
54.8
rank score
Distress
55
FY2023
Fit
75
vs thesis
Estimated ticket
$59.1M–$236M
139 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- occupancy 45-60%
- margin deteriorating
- 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 | $130M |
| Operating margin | -6.1% |
| Total margin | -1.5% |
| Days cash on hand | 0 |
| Current ratio | 2.59 |
| Occupancy | 51% |
Facility
| Beds | 139 |
| 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 | 139 | $94.8M | $691K | -28.5% | 0.6% | 0 | 3.27 | 51% | 4,418 | 56 |
| 2021 | 139 | $119M | $-409K | -15.7% | -0.3% | 0 | 2.64 | 54% | 5,149 | 60 |
| 2022 | 139 | $121M | $-19.9M | -22.0% | -15.5% | 0 | 2.55 | 50% | 5,097 | 69 |
| 2023 | 139 | $130M | $-2.0M | -6.1% | -1.5% | 0 | 2.59 | 51% | 5,036 | 55 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mark Manigan | corporate officer | 2023-01 | ||
| Richard Henwood | w-2 managing employee | 2017-01 | ||
| Richard Henwood | operational/managerial control | 2016-04 | ||
| Rodney Dunn | corporate officer | 2025-03 | ||
| Rwj Barnabas Health Inc | operational/managerial control | 2016-04 |
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 |