Cooperman Barnabas Medical Center
Livingston, Essex County, NJ
· CCN 310076
Licensed to Cooperman Barnabas Medical Center Inc.
Composite
14.6
rank score
Distress
32
FY2023
Fit
55
vs thesis
Estimated ticket
$298M–$1.2B
597 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- margin deteriorating
- 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 | $1.2B |
| Operating margin | 1.5% |
| Total margin | 3.6% |
| Days cash on hand | 0 |
| Current ratio | 7.08 |
| Occupancy | 83% |
Facility
| Beds | 597 |
| 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 | 557 | $859M | $55.9M | -4.6% | 5.9% | 0 | 8.37 | 78% | 25,666 | 38 |
| 2021 | 544 | $1.0B | $28.3M | -1.4% | 2.7% | 0 | 6.50 | 83% | 32,919 | 38 |
| 2022 | 554 | $1.1B | $-23.8M | -4.3% | -2.2% | 0 | 8.07 | 87% | 33,289 | 46 |
| 2023 | 597 | $1.2B | $43.8M | 1.5% | 3.6% | 0 | 7.08 | 83% | 34,734 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Gregory Alban | corporate officer | 2025-07 | ||
| Gregory Alban | w-2 managing employee | 2025-07 | ||
| Mark Manigan | corporate officer | 2023-01 | ||
| Richard Davis | corporate officer | 2014-10 | ||
| Richard Henwood | w-2 managing employee | 2014-10 | ||
| Rwj Barnabas Health Inc | operational/managerial control | 2016-04 | ||
| Rwjbh Corporate Services Inc | operational/managerial control | 2014-10 |
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 |