Corning Hospital
Corning, Steuben County, NY
· CCN 330277
Licensed to Corning Hospital
Composite
35.7
rank score
Distress
29
FY2024
Fit
56
vs thesis
Estimated ticket
$6.5M–$13.0M
65 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $195M |
| Operating margin | 11.8% |
| Total margin | 20.4% |
| Days cash on hand | 0 |
| Current ratio | 1.15 |
| Occupancy | 72% |
Facility
| Beds | 65 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 65 | $137M | $41.1M | 5.8% | 24.2% | 0 | 0.99 | 68% | 4,040 | 31 |
| 2022 | 65 | $152M | $7.1M | 9.6% | 4.9% | 0 | 1.13 | 70% | 3,967 | 26 |
| 2023 | 65 | $169M | $21.2M | 5.0% | 11.6% | 0 | 1.06 | 75% | 4,077 | 26 |
| 2024 | 65 | $195M | $44.0M | 11.8% | 20.4% | 0 | 1.15 | 72% | 4,255 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| The Guthrie Clinic | 5% or greater direct ownership interest | 100 | 2005-08 | |
| Lucia Saggiomo | corporate director | 2017-01 | ||
| Paul Vervalin | corporate director | 2023-09 | ||
| Paul Vervalin | w-2 managing employee | 2023-09 | ||
| Taylor Skerpon | corporate director | 2024-09 | ||
| Wendy Sowle | corporate director | 2017-01 |
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.
| 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 |