NEW LONDON, CT
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Sign In — Free (10 views/day)LAWRENCE MEMORIAL HOSPITAL INC, founded in 1912, is a major nonprofit in the Health Care sector that reported $501.4M in total revenue in fiscal year 2023.
TO IMPROVE THE HEALTH OF THE REGION AND TO PROVIDE HEALTHCARE SERVICES.
LAWRENCE + MEMORIAL HOSPITAL IS A NON-PROFIT, 308-BED GENERAL AND ACUTE CARE HOSPITAL PROVIDING PATIENT CARE TO MEDICAL, SURGICAL, PEDIATRIC, PSYCHIATRIC AND OBSTETRICAL PATIENTS IN SOUTHEASTERN...
LAWRENCE + MEMORIAL HOSPITAL IS A NON-PROFIT, 308-BED GENERAL AND ACUTE CARE HOSPITAL PROVIDING PATIENT CARE TO MEDICAL, SURGICAL, PEDIATRIC, PSYCHIATRIC AND OBSTETRICAL PATIENTS IN SOUTHEASTERN CONNECTICUT AND SOUTHERN RHODE ISLAND. LAWRENCE + MEMORIAL OFFERS CARDIAC ACUTE, STEP-DOWN AND REHABILITATION PROGRAMS AND IS THE ONLY EASTERN CONNECTICUT HOSPITAL THAT PERFORMS EMERGENCY AND ELECTIVE ANGIOPLASTY. RESPIRATORY THERAPISTS AT LAWRENCE + MEMORIAL HOSPITAL COMPLETED TRAINING FOR "NOXBOX" DEVICES THAT SAFELY ADMINISTER NITRIC OXIDE GAS TO PATIENTS. THE NOXBOX DEVICES ARE USED FOR PATIENTS REQUIRING RIGHT-SIDED CATHETERIZATION PROCEDURES. THE GAS IS HELPFUL IN DIAGNOSING PATIENTS WITH PULMONARY ARTERIAL HYPERTENSION. LAWRENCE + MEMORIAL HOSPITAL NURSES RECEIVED TRAINING IN "SAFE MODE" PROGRAMMING, MAKING IT POSSIBLE FOR PATIENTS WITH PACEMAKERS OR DEFIBRILLATORS TO RECEIVE THEIR MAGNETIC RESONANCE IMAGING (MRI) TEST SAFELY AND LOCALLY. IF AN MRI IS NOT PERFORMED IN SAFE MODE, THE SCANNER'S MAGNETS MAY ALTER OR DAMAGE THE FUNCTION OF THE PACEMAKER OR DEFIBRILLATOR AND POTENTIALLY PUT PATIENTS AT RISK. IN SAFE MODE, PACEMAKERS CAN BE PAUSED BY TRAINED PROFESSIONALS BEFORE AN MRI BEGINS. ONCE THE MRI IS COMPLETE, THE PACEMAKER OR DEFIBRILLATOR IS RESET. YALE NEW HAVEN HEALTH OPENED ITS THIRD STATE-OF-THE-ART RETAIL PHARMACY AT LAWRENCE + MEMORIAL HOSPITAL, INTRODUCING INTEGRATED, PERSONALIZED MEDICATION CARE FOR PATIENTS, EMPLOYEES AND THE SURROUNDING COMMUNITY. THE PHARMACY TEAM COLLABORATES WITH PATIENTS' HEALTHCARE PROVIDERS TO ENSURE PRESCRIPTIONS ARE FILLED SAFELY AND ACCURATELY WITH THE HIGHEST QUALITY CARE. AS PART OF THE $81.6 MILLION POWER UPGRADE AND EMERGENCY DEPARTMENT RENOVATION AT LAWRENCE + MEMORIAL HOSPITAL, THE FIRST OF 57 NEW PRIVATE ROOMS OPENED TO PATIENTS. PROJECTED FOR COMPLETION IN 2026, THE 57-ROOM ED WILL HAVE A NET GAIN OF 20 BEDS WITH STATE-OF-THE-ART EQUIPMENT DESIGNED WITH INPUT FROM FRONT-LINE NURSES ON WAYS TO ENHANCE ERGONOMICS AND FUNCTIONALITY. LAWRENCE + MEMORIAL HOSPITAL ALSO RECEIVED A NUMBER OF ACCREDITATIONS AND CERTIFICATIONS FOR HIGH-QUALITY MEDICAL AND CLINICAL PROGRAMS: THE JOINT COMMISSION AWARDED THE HOSPITAL ITS GOLD SEAL OF APPROVAL FOR ADVANCED CERTIFICATION IN SPINE SURGERY; THE COMMISSION ON CANCER, THE AMERICAN COLLEGE OF SURGEONS GRANTED RECERTIFICATION AS AN ADVANCED PRIMARY STROKE CENTER; THE HOSPITAL'S BARIATRIC SURGERY CENTER WAS ACCREDITED AS A LOW ACUITY CENTER BY THE METABOLIC AND BARIATRIC SURGERY ACCREDITATION AND QUALITY IMPROVEMENT PROGRAM; THE AMERICAN HEART ASSOCIATION NAMED THE HOSPITAL TO ITS GET WITH THE GUIDELINES PROGRAM AND ITS STROKE GOLD PLUS WITH TARGET: TYPE 2 DIABETES HONOR ROLL; AND BABY-FRIENDLY USA REDESIGNATION THE HOSPITAL AS A BABY-FRIENDLY FACILITY. THE HOSPITAL'S COMMITMENT TO SAFE, HIGH-QUALITY PATIENT CARE EXTENDS TO THE HEALTH OF THE COMMUNITIES IT SERVES, WITH AN ACTIVE HOME HEALTH PROGRAM THAT PROVIDES MORE THAN 100,000 HOME CARE VISITS ANNUALLY TO PATIENTS IN THE REGION AS WELL AS PARTNERSHIPS WITH COMMUNITY-BASED ORGANIZATIONS THAT HELP ADDRESS THE SOCIO-ECONOMIC NEEDS OF PEOPLE WITHIN THE SERVICE AREA.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $501,444,201 | $471,777,121 | +0.1% |
| Expenses | $493,280,785 | $464,752,849 | +0.1% |
| Net Income | $8,163,416 | $7,024,272 | +0.2% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| WILLIAM J ASELTYNE | SECR/TRUSTEE (CURRENT YR) | 1.00 |
Officer
Director
|
$0 | $193,425 | $1,450,910 |
| WILLIAM J ASELTYNE | SECR/TRUSTEE (VESTED DEFERRED) | 1.00 |
Officer
Director
|
$0 | $0 | $235,138 |
| GAIL KOSYLA | TREASURER | 1.00 |
Officer
|
$0 | $407,968 | $1,543,615 |
| PATRICK L GREEN | FORMER OFFICER (CURRENT YR) | 0.00 |
|
$0 | $219,082 | $835,885 |
| PATRICK L GREEN | FORMER OFFICER (VESTED DEFERRED) | 0.00 |
|
$0 | $0 | $157,810 |
| RICHARD LISITANO | PRESIDENT/TRUSTEE | 35.00 |
Officer
Director
|
$554,857 | $284,504 | $978,076 |
| OLIVER MAYORGA | VP/CMO | 35.00 |
Key Emp
|
$667,025 | $122,210 | $955,991 |
| CRAIG MITTLEMAN | ED MEDICAL DIRECTOR | 40.00 |
Highest
|
$623,421 | $49,029 | $672,450 |
| BENJAMIN ARMSTRONG | ED PHYSICIAN | 40.00 |
Highest
|
$542,427 | $39,314 | $581,741 |
| KERIN DACRUZ | VP/CNO TERM 2/2024 | 40.00 |
Key Emp
|
$521,644 | $37,743 | $559,387 |
| DENISE FIORE | FORMER OFFICER | 0.00 |
|
$0 | $0 | $547,749 |
| MICHAEL JOSEPH | ED PHYSICIAN | 40.00 |
Highest
|
$504,738 | $39,314 | $544,052 |
| PETER WILLIS | ED PHYSICIAN | 40.00 |
Highest
|
$423,267 | $38,949 | $462,216 |
| NADER BAHADORY | ED PHYSICIAN | 40.00 |
Highest
|
$404,436 | $35,905 | $440,341 |
| SHANNON CHRISTIAN | SVP/CNO EFFECTIVE 4/2024 | 40.00 |
Key Emp
|
$250,905 | $28,294 | $279,199 |
| STEPHEN ALLEGRETTO | FORMER OFFICER | 0.00 |
|
$0 | $0 | $211,813 |
| MAUREEN ANDERSON | FORMER OFFICER | 0.00 |
|
$0 | $0 | $118,596 |
| DANIEL GACCIONE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $5,250 |
| F GREGORY AHERN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| TODD BLUE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DANIEL BRANNEGAN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| NICHOLAS FORTSON | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JOHN HOLSTEIN | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| KATHLEEN HOLT | VICE CHAIR/TRUSTEE | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JAMES MAYNARD | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| MARIE PEAKMAN | TRUSTEE | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| SHANNA REELS | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| VICTORIA REYES | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| ROCCO TIMPANO | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| REV CATHERINE ZALL | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $501,444,201 | $493,280,785 | $426,995,625 | $8,163,416 |
| 2023 | $471,777,121 | $464,752,849 | $425,702,458 | $7,024,272 |
| 2022 | $461,794,793 | $442,738,204 | $456,988,884 | $19,056,589 |
| 2022 | $461,794,793 | $442,738,204 | $456,988,884 | $19,056,589 |
| 2021 | $440,849,922 | $419,884,133 | $500,211,474 | $20,965,789 |
| 2020 | $383,580,295 | $394,935,731 | $460,648,797 | $-11,355,436 |
| 2019 | $379,401,803 | $357,106,009 | $411,338,982 | $22,295,794 |
| 2018 | $347,355,422 | $325,708,955 | $410,610,409 | $21,646,467 |
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