Bayonne Medical Center
dba Bayonne University Hospital ·
Bayonne, NJ
· CCN 310025
Licensed to Ijkg Opco Llc
Composite
78.2
rank score
Distress
94
FY2023
Fit
78
vs thesis
Estimated ticket
$45.9M–$183M
131 beds ·
within envelope
Ownership
for-profit
REIT
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- REIT-encumbered — sale-leaseback, rent obligation attached
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $129M |
| Operating margin | -26.8% |
| Total margin | -20.4% |
| Days cash on hand | 2 |
| Current ratio | 0.58 |
| Occupancy | 48% |
Facility
| Beds | 131 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 131 | $127M | $-13.0M | -21.3% | -9.2% | 9 | 1.76 | 47% | 3,927 | 73 |
| 2021 | 131 | $131M | $-1.5M | -21.7% | -1.0% | 13 | 1.92 | 45% | 4,004 | 68 |
| 2022 | 131 | $141M | $-15.2M | -25.9% | -9.3% | 3 | 1.49 | 44% | 3,800 | 80 |
| 2023 | 131 | $129M | $-27.6M | -26.8% | -20.4% | 2 | 0.58 | 48% | 4,204 | 94 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Christopher Dalton | corporate director | 100 | 2025-02 | |
| Christopher Dalton | operational/managerial control | 100 | 2025-02 | |
| Frank Rodriguez | corporate director | 100 | 2021-01 | |
| Frank Rodriguez | w-2 managing employee | 100 | 2021-01 | |
| Carepoint Health System, Inc | 5% or greater direct ownership interest | 77 | 2022-12 | |
| Bmc Hospital, Llc | 5% or greater direct ownership interest | 10 | 2022-12 | |
| Bmc Fund ,llc | 5% or greater direct ownership interest | 6 | 2022-12 | |
| Paul Huffard | general partnership interest | 3 | 2022-12 | |
| Allison Duman 2015 Legacy Trust | general partnership interest | 1 | 2022-12 | REIT |
| David Newman 2014 Legacy Trust | general partnership interest | 1 | 2022-12 | REIT |
| Sondra Neuschotz 2014 Legacy Trust | general partnership interest | 1 | 2022-12 | REIT |
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 |