Raritan Bay Medical Center
Perth Amboy, Middlesex County, NJ
· CCN 310039
Licensed to Hmh Hospitals Corporation
Composite
37.4
rank score
Distress
28
FY2023
Fit
62
vs thesis
Estimated ticket
$135M–$540M
270 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- occupancy 45-60%
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $313M |
| Operating margin | 0.8% |
| Total margin | 7.9% |
| Days cash on hand | 0 |
| Current ratio | 3.81 |
| Occupancy | 58% |
Facility
| Beds | 270 |
| 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 | 302 | $211M | $-31.0M | -26.8% | -13.1% | 0 | 0.28 | 52% | 11,656 | 93 |
| 2021 | 303 | $243M | $3.0M | -14.1% | 1.1% | 0 | 1.10 | 53% | 11,552 | 59 |
| 2022 | 261 | $280M | $49.6M | 1.6% | 15.3% | 0 | 5.38 | 56% | 11,605 | 31 |
| 2023 | 270 | $313M | $26.6M | 0.8% | 7.9% | 0 | 3.81 | 58% | 12,325 | 28 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hackensack Meridian Health Inc | 5% or greater direct ownership interest | 100 | 2018-01 | |
| Aida Capo | corporate director | 2018-01 | ||
| Andria Schneiderman | corporate director | 2018-01 | ||
| Christopher Rotio | corporate director | 2021-10 | ||
| Edward Piccinich | corporate director | 2018-01 | ||
| Frank Vuono | corporate director | 2018-01 | ||
| Gloria Martini | corporate director | 2018-01 | ||
| Gregorio Guillen | corporate director | 2018-01 | ||
| James Derosa | corporate officer | 2023-12 | ||
| John Wilcha | corporate director | 2018-01 | ||
| Kathryn Gibbons | corporate officer | 2022-09 | ||
| Keith Banks | corporate director | 2024-01 | ||
| Kevin Field | corporate officer | 2021-01 | ||
| Luke Kealy | corporate director | 2018-01 | ||
| Mark Stauder | corporate director | 2021-10 | ||
| Mark Stauder | w-2 managing employee | 2021-01 | ||
| Marvin Goldstein | corporate director | 2018-01 | ||
| Praful Raja | corporate director | 2021-10 | ||
| Pranaychandra Vaidya | corporate director | 2018-01 | ||
| Richard Hand | corporate officer | 2023-12 | ||
| Richard Henning | corporate director | 2018-01 | ||
| Robert Garrett | corporate director | 2018-01 | ||
| Rosemarie Sorce | corporate director | 2018-01 | ||
| Shawn Reynolds | corporate director | 2018-01 | ||
| Steve Lisser | corporate director | 2018-01 |
Showing 25 of 29. Full list via /api/targets/310039.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-01-01 | change of ownership | Hmh Hospitals Corporation | Raritan Bay Medical Center |
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 |