Friends Behavioral Health System
dba Friends Hospital ·
Philadelphia, Philadelphia County, PA
· CCN 394008
Licensed to Friends Behavioral Health System, Lp
Composite
52.1
rank score
Distress
32
FY2023
Fit
90
vs thesis
Estimated ticket
$52.8M–$211M
192 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- 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 uses the capital envelope well
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $53.7M |
| Operating margin | 10.0% |
| Total margin | 11.3% |
| Days cash on hand | 0 |
| Current ratio | -0.12 |
| Occupancy | 95% |
Facility
| Beds | 192 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 192 | $41.9M | $3.8M | 3.0% | 8.6% | 0 | 0.07 | 92% | 4,537 | 36 |
| 2021 | 192 | $43.0M | $2.3M | 2.7% | 5.2% | 0 | 0.01 | 89% | 4,287 | 36 |
| 2022 | 192 | $48.0M | $188K | -0.8% | 0.4% | 0 | -0.09 | 89% | 4,508 | 54 |
| 2023 | 192 | $53.7M | $6.2M | 10.0% | 11.3% | 0 | -0.12 | 95% | 4,758 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2010-11 | |
| George Brunner | corporate officer | 100 | 2010-11 | |
| Horizon Health Corporation | 5% or greater indirect ownership interest | 100 | 2007-12 | |
| Horizon Health Hospital Services Llc | 5% or greater indirect ownership interest | 100 | 2007-12 | |
| Katharine Lyver | corporate officer | 100 | 2024-01 | |
| Matthew Klein | corporate officer | 100 | 2010-11 | |
| Matthew Peterson | corporate officer | 100 | 2019-09 | |
| Matthew Peterson | operational/managerial control | 100 | 2019-09 | |
| Psychiatric Solutions, Inc. | 5% or greater indirect ownership interest | 100 | 2005-03 | |
| Steve Filton | corporate officer | 100 | 2010-11 | |
| Steve Filton | operational/managerial control | 100 | 2010-11 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2010-11 | chain |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2010-11 | |
| Hhc Pennsylvania , Inc | 5% or greater direct ownership interest | 80 | 2007-12 | |
| James Coleman | contracted managing employee | 50 | 2010-11 | |
| Matthew Peterson | corporate director | 33 | 2019-09 | |
| Steve Filton | corporate director | 33 | 2010-11 | |
| Uhs Of Fairmount Inc | 5% or greater direct ownership interest | 20 | 2025-04 | |
| Friends Gp Llc | 5% or greater direct ownership interest | 0 | 2005-03 | |
| Friends Gp Llc | general partnership interest | 0 | 2005-03 | |
| Alan Miller | 5% or greater indirect ownership interest | 2024-03 | ||
| Angela Cantwell | contracted managing employee | 2023-12 | ||
| Angela Cantwell | corporate officer | 2023-12 | ||
| Catherine Saltz | contracted managing employee | 2020-01 |
Showing 25 of 26. Full list via /api/targets/394008.
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.