Doctor Center Hospital Manati Inc.
Manati, PR
· CCN 400118
Licensed to Doctors Center Hospital Inc
Composite
33.5
rank score
Distress
14
FY2023
Fit
68
vs thesis
Estimated ticket
$128M–$514M
257 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 90-150 days cash on hand
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $111M |
| Operating margin | 4.5% |
| Total margin | 7.2% |
| Days cash on hand | 133 |
| Current ratio | 6.35 |
| Occupancy | 92% |
Facility
| Beds | 257 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 258 | $83.9M | $16.7M | -4.8% | 16.0% | 123 | 3.17 | 71% | 11,825 | 20 |
| 2021 | 258 | $93.1M | $7.2M | -3.9% | 6.9% | 130 | 5.96 | 79% | 12,523 | 20 |
| 2022 | 258 | $103M | $4.4M | 1.6% | 4.2% | 115 | 5.63 | 91% | 14,230 | 11 |
| 2023 | 257 | $111M | $8.3M | 4.5% | 7.2% | 133 | 6.35 | 92% | 14,683 | 14 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dch Holding Llc | 5% or greater direct ownership interest | 100 | 2023-06 | |
| Carlos Blanco Ramos | 5% or greater indirect ownership interest | 75 | 2023-06 | |
| Carlos Blanco Ramos | general partnership interest | 75 | 2023-06 | |
| Carlos Blanco Ramos | operational/managerial control | 75 | 2023-06 | |
| Alejandro Santiago | corporate director | 5 | 2010-02 | |
| Alejandro Santiago | w-2 managing employee | 5 | 2010-02 | |
| Belinda Lee Toro | corporate officer | 5 | 2005-10 | |
| Belinda Lee Toro | corporate director | 5 | 2005-10 |
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 PR
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 |
|---|---|---|---|---|
| 2024-06-07 | The San Jorge Hospital Inc | San Jorge Children's Hospital, Inc. | San Jorge Childrens & Women Hospital | — |
| 2023-12-20 | Metro Caguas Incorporated | Centro Medico Del Turabo Inc | Hospital Hima San Pablo Caguas | 421 |
| 2023-12-15 | Am Acquisition I, Llc | Centro Medico Del Turabo Inc | Hospital Hima San Pablo Bayamon | 424 |
| 2020-02-29 | Hospital Menonita Humacao, Inc. | Hospital Oriente Inc | Hospital Menonita Humacao | 73 |
| 2017-09-13 | Hospital Menonita Guayama Inc | Hospital Episcopal San Lucas Guayama, Inc. | Hospital Menonita Guayama | 140 |