Kindred Hospital New Jersey
dba Kindred Hospital New Jersey Morris County ·
Dover, Morris County, NJ
· CCN 312020
Licensed to Kindred Hospitals East Llc
Composite
55.4
rank score
Distress
60
FY2024
Fit
71
vs thesis
Estimated ticket
$26.5M–$106M
104 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- debt above 70% of assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $53.1M |
| Operating margin | -2.0% |
| Total margin | -2.0% |
| Days cash on hand | 0 |
| Current ratio | 1.33 |
| Occupancy | 58% |
Facility
| Beds | 104 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 104 | $60.2M | $2.0M | 3.1% | 3.4% | 0 | 0.49 | 67% | 769 | 40 |
| 2022 | 104 | $53.3M | $-2.0M | -4.3% | -3.7% | 0 | 0.95 | 65% | 624 | 63 |
| 2023 | 104 | $54.1M | $-194K | -1.6% | -0.4% | 0 | 1.11 | 59% | 594 | 56 |
| 2024 | 104 | $53.1M | $-1.1M | -2.0% | -2.0% | 0 | 1.33 | 58% | 617 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kentucky Hospital Holdings Jv Lp | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Intermediate Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kindred Healthcare Llc | 5% or greater indirect ownership interest | 100 | 1998-03 | |
| Kindred Healthcare Operating Llc | 5% or greater direct ownership interest | 100 | 1998-05 | |
| Knight Health Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Knight Health Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Andrew Donet | operational/managerial control | 2020-11 | ||
| Dana Rock | corporate officer | 2024-12 | ||
| Deanna Schiavone | corporate officer | 2022-08 | ||
| Johnetta Traylor | corporate officer | 2024-12 | ||
| Michael Bean | corporate officer | 2004-12 | ||
| Michael Moody | corporate officer | 2022-01 | ||
| Richard Algood | corporate officer | 2015-07 | ||
| Richard Algood | other | 2015-07 | ||
| Scott Graeser | corporate officer | 2022-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.