dealflow
envelope $200M

← Targets

Flushing Hospital Medical Center

dba Flushing Hopsital Medical Center · Flushing, Queens County, NY · CCN 330193
Licensed to Flushing Hospital & Medical Center

Composite
34.1
rank score
Distress
22
FY2023
Fit
60
vs thesis
Estimated ticket
$24.7M–$49.4M
247 beds · within envelope
Ownership
nonprofit
STH

Why it ranks here

  • 60-90 days cash on hand
  • current ratio under 1.5
  • liabilities exceed assets
  • rural — cheaper but limited density
  • bed count in the target band
  • small ticket — deploys little of the available capital
  • strong occupancy — good iteration surface
  • nonprofit — expect AG conversion review

Latest financials · FY2023

Net patient revenue$386M
Operating margin 4.8%
Total margin 9.2%
Days cash on hand 64
Current ratio 1.01
Occupancy62%

Facility

Beds247
Facility typeSTH
Settingrural
Ownership classnonprofit
Per-bed (low) $100K
Per-bed (high) $200K

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2020 247 $232M $25.1M -29.3% 7.7% 101 1.30 65% 11,243 47
2021 247 $228M $53.1M -41.2% 14.1% 35 0.89 61% 10,049 64
2022 247 $306M $8.2M -9.4% 2.4% 43 0.83 58% 11,095 61
2023 247 $386M $37.2M 4.8% 9.2% 64 1.01 62% 11,275 22

Owners

OwnerRole%SinceType
A.j. Jin corporate director 2012-09
Antonietta Morisco corporate director 2006-03
Bruce Flanz corporate officer 2011-03
Chris Hwang corporate director 2010-11
Darren Meyers corporate director 2013-10
Douglas Singer corporate director 2008-02
Geoffrey Doughlin corporate director 2000-03
Joseph Ferrara corporate director 2023-09
Joseph Liana corporate director 2013-01
Michelle Stoddart corporate director 2023-09
Mounir Doss corporate director 2006-07
Mounir Doss operational/managerial control 2006-07
Neil Phillips corporate director 1976-11
Patrick Sun corporate director 2011-11
Philippa Karteron corporate director 2014-04
Robert Koop corporate director 1999-05
Robert Reichenbach corporate director 1994-01
Sang Han corporate director 2008-09
Thomas Santucci corporate director 2023-09
Timothy Dufficy corporate director 2006-01

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.

DateBuyerSellerHospitalBeds
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