Forbes Regional Hospital
Monroeville, Allegheny County, PA
· CCN 390267
Licensed to West Penn Allegheny Health System, Inc.
Composite
59.9
rank score
Distress
66
FY2024
Fit
76
vs thesis
Estimated ticket
$99.0M–$396M
233 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- margin slipping
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $350M |
| Operating margin | -3.3% |
| Total margin | -0.5% |
| Days cash on hand | 0 |
| Current ratio | 0.15 |
| Occupancy | 73% |
Facility
| Beds | 233 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 234 | $282M | $2.7M | -1.3% | 0.9% | 0 | 0.22 | 67% | 11,720 | 62 |
| 2022 | 233 | $300M | $-14.5M | -7.2% | -4.7% | 0 | 0.22 | 71% | 11,338 | 81 |
| 2023 | 233 | $327M | $5.6M | -3.8% | 1.6% | 0 | 0.18 | 72% | 11,209 | 66 |
| 2024 | 233 | $350M | $-1.7M | -3.3% | -0.5% | 0 | 0.15 | 73% | 12,200 | 66 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Allegheny Health Network | other | 2013-04 | ||
| Brian Devine | corporate officer | 2023-12 | ||
| Brian Ice | corporate director | 2023-09 | ||
| Bruce Meyer | corporate director | 2023-01 | ||
| Doris Williams | corporate director | 2013-04 | ||
| Highmark Health | other | 2013-04 | ||
| Jacqueline Bauer | corporate officer | 2013-04 | ||
| Jacqueline Bauer | corporate director | 2013-04 | ||
| Joseph Macerelli | corporate officer | 2013-07 | ||
| Joseph Macerelli | corporate director | 2013-04 | ||
| Kelly Waldman | corporate director | 2025-01 | ||
| Richard Fries | corporate director | 2017-02 | ||
| Richard Fries | w-2 managing employee | 2015-04 | ||
| Richard Nagy | corporate director | 2026-03 | ||
| Robert Pompeani | corporate director | 2020-01 | ||
| Russell Livingston | corporate director | 2019-01 | ||
| Tony Farah | corporate director | 2013-04 | ||
| Tony Farah | w-2 managing employee | 2008-01 | ||
| Wendy O'brien | corporate director | 2023-01 | ||
| West Penn Allegheny Health System, Inc. | other | 2013-04 |
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 PA
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 |
|---|---|---|---|---|
| 2025-01-21 | Tenor Health Foundation Sharon, Llc | Steward Sharon Regional Health System, Inc. | Sharon Regional Health System | 141 |
| 2023-09-02 | Chh Community Health | Chestnut Hill Hospital Llc | Chestnut Hill Hospital | 128 |
| 2023-07-01 | Valley Medical Facilities Inc | Valley Medical Facilities Inc | Heritage Valley Sewickley | 220 |
| 2022-05-09 | Lehigh Valley Hospital | Lehigh Valley Hospital -... | Lehigh Valley | 1,216 |
| 2021-07-01 | Dubois Regional Medical Center | Clearfield Hospital | Dubois Regional Medical Center | 261 |
| 2021-06-14 | Avenues Recovery Medical Center At... | Valley Forge Medical Center &... | Valley Forge Medical Center | 70 |
| 2021-01-01 | Robert Packer Hospital | Guthrie Towanda Memorial Hospital | Robert Packer Hospital | 252 |
| 2020-07-01 | St. Luke's Hospital- Easton Campus | Steward Easton Hospital, Inc | St Lukes Hospital - Easton Campus | 29 |
| 2018-05-26 | Lehigh Valley Hospital - Schuylkill | Schuylkill Medical Center - East... | Lehigh Valley Hospital - Schuylkill | 118 |
| 2017-07-01 | Upmc Carlisle | Carlisle Hma Llc | Upmc Carlisle | 66 |