Hackettstown Medical Center
Hackettstown, Warren County, NJ
· CCN 310115
Licensed to Ahs Hospital Corp
Composite
45.3
rank score
Distress
34
FY2023
Fit
75
vs thesis
Estimated ticket
$47.5M–$190M
95 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- 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 | $134M |
| Operating margin | 2.6% |
| Total margin | 3.3% |
| Days cash on hand | 0 |
| Current ratio | -195.49 |
| Occupancy | 55% |
Facility
| Beds | 95 |
| 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 | 61 | $88.2M | $1.4M | -9.5% | 1.4% | 727 | -3.92 | 67% | 3,466 | 43 |
| 2021 | 82 | $109M | $6.0M | 5.4% | 5.5% | 2 | -4.44 | 61% | 3,859 | 40 |
| 2022 | 95 | $120M | $5.0M | 2.8% | 4.1% | 2 | -3.80 | 54% | 3,727 | 42 |
| 2023 | 95 | $134M | $4.5M | 2.6% | 3.3% | 0 | -195.49 | 55% | 3,728 | 34 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Joseph Walter | corporate officer | 100 | 2022-09 | |
| Joseph Walter | w-2 managing employee | 100 | 2022-09 | |
| Laura Ann Kelly | corporate officer | 2025-05 | ||
| Mary O'halloran | corporate officer | 2016-05 | ||
| Saad Ehtisham | corporate officer | 2025-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-07-01 | change of ownership | Ahs Hospital Corp | General Conference Of Seventh... |
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 |