Silver Lake Hospital Ltach
Newark, Essex County, NJ
· CCN 312024
Licensed to Columbus Hospital Ltach, Llc
Composite
67.7
rank score
Distress
97
FY2024
Fit
60
vs thesis
Estimated ticket
$13.2M–$52.9M
63 beds ·
within envelope
Ownership
for-profit
LTCH
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 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- small ticket — deploys little of the available capital
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $12.1M |
| Operating margin | -221.6% |
| Total margin | -221.6% |
| Days cash on hand | 0 |
| Current ratio | 0.09 |
| Occupancy | 32% |
Facility
| Beds | 63 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 132 | $91.6M | $2.5M | 2.7% | 2.7% | 15 | 0.84 | 57% | 634 | 33 |
| 2022 | 63 | $76.5M | $4.6M | -1.8% | 5.6% | 4 | 0.56 | 72% | 564 | 51 |
| 2023 | 63 | $55.3M | $-13.7M | -24.8% | -24.8% | 6 | 0.22 | 57% | 418 | 90 |
| 2024 | 63 | $12.1M | $-26.8M | -221.6% | -221.6% | 0 | 0.09 | 32% | 258 | 97 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Columbus Hospital Ltach, Llc | operational/managerial control | 2023-10 | ||
| Edward Cienki | corporate director | 2023-10 | ||
| Edward Cienki | w-2 managing employee | 2023-10 | ||
| Linda Laforgia | corporate director | 2014-11 | ||
| Linda Laforgia | w-2 managing employee | 2014-11 | ||
| Richard Lipsky | 5% or greater direct ownership interest | 2011-04 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.