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HOSP

ADVENTHEALTH WATERMAN

CCN 100057|LOC TAVARES, FL|BEDS 288|NPR $338.7M|MARGIN -5.4%

SeekingChartis Score

INVESTMENT THESIS

Buy: ADVENTHEALTH WATERMAN

/ 100 (B)

+$24.9M

EBITDA Uplift

+736bps

Margin Δ

0.0%

Op Margin

$338.7M

Revenue

—

Realization

—

Peer Rank

SIGNAL STRENGTH

Margin

0.0%

Safety

56%

CATALYSTS

▲RCM uplift of $24.9M (+736bps)

▲Platform-sized facility

RISKS

▼Elevated distress risk (44%)

Buy — solid fundamentals with identifiable value creation levers. Proceed to detailed diligence.

Peer Analysis EBITDA Bridge Data Room IC Memo ML Detail

$338.7M

Net Patient Revenue

-5.4%

Operating Margin

$-18.3M

Net Income

288

Licensed Beds

$1,176K

Revenue per Bed

$357.0M

Operating Expenses

Payer Mix

PYR

■ MEDICARE · 34%■ MEDICAID · 1%■ COMMERCIAL · 65%

Score Breakdown

SCComposite · 40/100

Component	Score	Max	%
Market Position	21	35	61%
Financial Health	7	25	26%
Operational Quality	0	20	0%
Competitive Moat	4	20	19%

Comparable Hospitals

CMP

CCN	Hospital	Beds	NPR
100001	SHANDS JACKSONVILLE MEDICAL CENTER	481	$0M
100002	BETHESDA HOSPITAL	406	$0M
100006	ORLANDO HEALTH	1,507	$0M
100007	ADVENTHEALTH ORLANDO	2,738	$0M
100008	BAPTIST HOSPITAL	948	$0M

Team Notes

NOTE0 entries

Actions

ACT

WFDiligence Workflow

Competitive Intel EBITDA Bridge Data Room IC Memo Scenarios

AIDeep Analysis

ML Analysis Demand 3-Year History Stats Bayesian

FINFinancial Models

DCF LBO 3-Statement Returns Market Denial

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