Glens Falls Hospital
Glens Falls, Warren County, NY
· CCN 330191
Licensed to Glens Falls Hospital Inc
Composite
53.2
rank score
Distress
69
FY2023
Fit
56
vs thesis
Estimated ticket
$166M–$665M
391 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 30-60 days cash on hand
- current ratio under 1.5
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $364M |
| Operating margin | -15.1% |
| Total margin | -3.7% |
| Days cash on hand | 41 |
| Current ratio | 1.24 |
| Occupancy | 39% |
Facility
| Beds | 391 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 361 | $300M | $41.5M | -15.5% | 10.8% | 68 | 1.21 | 31% | 9,049 | 47 |
| 2021 | 391 | $339M | $4.7M | -6.8% | 1.3% | 31 | 0.89 | 38% | 10,522 | 57 |
| 2022 | 391 | $336M | $-18.5M | -15.9% | -4.8% | 11 | 0.94 | 41% | 9,922 | 77 |
| 2023 | 391 | $364M | $-14.8M | -15.1% | -3.7% | 41 | 1.24 | 39% | 10,963 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Albany Med Health System | 5% or greater indirect ownership interest | 2020-07 | ||
| Carl Cedron | corporate director | 2020-07 | ||
| Christopher Mason | corporate director | 2021-07 | ||
| Cindy Sherwood | w-2 managing employee | 2019-01 | ||
| Courtney Haskins | corporate director | 2020-07 | ||
| Craig Letourneau | w-2 managing employee | 2020-01 | ||
| David Westfall | corporate director | 2015-01 | ||
| F Agnew | w-2 managing employee | 2020-02 | ||
| Gary Hicks | corporate director | 2015-01 | ||
| Geoffrey Serfilippi | corporate director | 2020-07 | ||
| George Ferone | corporate director | 2015-01 | ||
| Gregory Champion | corporate director | 2020-07 | ||
| James Marco | w-2 managing employee | 2021-01 | ||
| Kate Herlihy Schwenker | corporate director | 2020-07 | ||
| Kathie Duncan | corporate director | 2015-01 | ||
| Laura Pasco | w-2 managing employee | 2014-05 | ||
| Lauren Naylor | w-2 managing employee | 2014-09 | ||
| Margaret Gillis | corporate director | 2020-07 | ||
| Mark Behan | corporate director | 2015-01 | ||
| Mary Shannon | w-2 managing employee | 2022-01 | ||
| Mitchell Amado | corporate officer | 2014-01 | ||
| Mitchell Amado | w-2 managing employee | 2014-01 | ||
| Paul Scimeca | w-2 managing employee | 2015-06 | ||
| Sean Bain | corporate director | 2020-07 | ||
| Sean Kennedy | w-2 managing employee | 2022-01 |
Showing 25 of 30. Full list via /api/targets/330191.
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 NY
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 |
|---|---|---|---|---|
| 2025-03-01 | Nyu Langone Hospitals | Brookhaven Memorial Hospital... | Long Island Community Hospital | 157 |
| 2022-10-01 | The New York And Presbyterian Hospital | Newyork-Presbyterian... | New York Presbyterian Hospital | 2,850 |
| 2021-02-27 | New York City Health And Hospitals... | New York City Health And Hospitals... | Jacobi Medical Center | 440 |
| 2021-01-01 | The Brookdale Hospital Medical Center | Kingsbrook Jewish Medical Center | Brookdale Hospital Medical Center | 450 |
| 2020-10-01 | Samaritan Hospital Of Troy, New York | Burdett Care Center, Inc. | Samaritan Hospital | 252 |
| 2020-09-23 | Healthalliance Hospital Marys Avenue Campus | Healthalliance Hospital Broadway Campus | Healthalliance Hospital Marys Ave Ca | 111 |
| 2020-01-01 | Samaritan Hospital Of Troy, New York | Memorial Hospital, Albany N.y. | Samaritan Hospital | 252 |
| 2019-07-01 | University Hospital At Stony Brook | Eastern Long Island Hospital Assoc Inc | Stony Brook University Hospital | 725 |
| 2019-01-01 | Samaritan Hospital Of Troy, New York | Seton Health System, Inc | Samaritan Hospital | 252 |
| 2016-01-14 | Long Island Jewish Medical Center | Forest Hills Hospital | Long Island Jewish Medical Center | 1,153 |