Summit Oaks Hospital
dba Summits Oaks Hospital ·
Summit, Union County, NJ
· CCN 314001
Licensed to Summit Oaks Hospital Inc
Composite
65.8
rank score
Distress
70
FY2024
Fit
81
vs thesis
Estimated ticket
$23.9M–$95.5M
124 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $30.4M |
| Operating margin | -14.8% |
| Total margin | -14.4% |
| Days cash on hand | 0 |
| Current ratio | 2.98 |
| Occupancy | 74% |
Facility
| Beds | 124 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 122 | $30.4M | $2.2M | 4.7% | 7.2% | 0 | 0.23 | 80% | 3,065 | 36 |
| 2022 | 124 | $29.2M | $-387K | -1.6% | -1.3% | 0 | 2.27 | 77% | 3,136 | 46 |
| 2023 | 124 | $31.4M | $-194K | -0.7% | -0.6% | 0 | 3.22 | 78% | 3,181 | 46 |
| 2024 | 124 | $30.4M | $-4.4M | -14.8% | -14.4% | 0 | 2.98 | 74% | 3,177 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2010-11 | |
| George Brunner | corporate officer | 100 | 2010-11 | |
| Katharine Lyver | corporate officer | 100 | 2024-01 | |
| Matthew Klein | corporate officer | 100 | 2010-11 | |
| Psychiatric Solutions Hospitals Llc | 5% or greater direct ownership interest | 100 | 2004-03 | |
| Steve Filton | corporate officer | 100 | 2019-09 | |
| Steve Filton | corporate director | 100 | 2019-09 | |
| Steve Filton | operational/managerial control | 100 | 2019-09 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2014-10 | chain |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2012-10 | |
| Alan Miller | 5% or greater indirect ownership interest | 86 | 2022-03 | |
| James Coleman | contracted managing employee | 50 | 2012-10 | |
| Thomas Day | corporate director | 33 | 2021-07 | |
| John Laporta | contracted managing employee | 2025-06 | ||
| John Laporta | corporate officer | 2025-06 | ||
| Patricia Toole | contracted managing employee | 2025-10 | ||
| Patricia Toole | corporate officer | 2025-10 | ||
| Psychiatric Solutions, Inc. | 5% or greater indirect ownership interest | 2004-03 |
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 |
|---|---|---|---|---|
| 2024-10-15 | Runnells Bh Operating Llc | County Of Union | Cornerstone Behavioral Health Hospit | 44 |