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Reviewed 2026-06-22

COVENANT MEDICAL CENTER

Ownership, control, relationships, and source records for COVENANT MEDICAL CENTER.
Ownership receipt

What we can say clearly

COVENANT MEDICAL CENTER is marked red because reviewed ownership records connect the facility to private-equity ownership or control. The detailed chain and source links are below.

Finding
CMS-corroborated PE ownership record
Last reviewed
2026-06-22
Evidence
6 cited sources
Documented warningOwned or controlled by private equity

COVENANT MEDICAL CENTER is listed in the April 3, 2026 PE hospital tracker and matches current CMS enrollment and owner records for COVENANT MEDICAL CENTER, INC.. The dossier distinguishes the enrolled legal owner from the broader sponsor and portfolio-company chain.

CMS-corroborated PE ownership record
Last verified Jun 2026
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Key sources

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Control Map

This leads to this

sponsors
Graham Healthcare CapitalCOVENANT MEDICAL CENTER, INC.
reported ownership or operating chain
COVENANT MEDICAL CENTER, INC.COVENANT MEDICAL CENTER
governs
JOHN JOHNSONCOVENANT MEDICAL CENTER

Evidence limits

Red color requiredCCN exact match2 ownership sources checked6 total sources below

Review Note

Why this page is published

government-corroborated

Meets the Phase 3 publication standard for its displayed status

Ownership & Control

Detailed records, kept below the answer

Sponsor, operator, CMS legal-owner/control records, and facility are shown as separate evidence layers.

See the full ownership chain
sponsorsGraham Healthcare Capital → COVENANT MEDICAL CENTER, INC.

The tracker supplies the sponsor-to-platform attribution; CMS does not independently reproduce every sponsor name.

reported ownership or operating chainCOVENANT MEDICAL CENTER, INC. → COVENANT MEDICAL CENTER

The platform attribution comes from the research tracker and is displayed separately from CMS legal-owner rows.

governsJOHN JOHNSON → COVENANT MEDICAL CENTER

CORPORATE DIRECTOR · associated 05/01/2007

governsJOHN SHELTON → COVENANT MEDICAL CENTER

CORPORATE DIRECTOR · associated 05/01/2007

governsKEVIN ALBOSTA → COVENANT MEDICAL CENTER

CORPORATE DIRECTOR · associated 05/01/2007

is associated withKEVIN ALBOSTA → COVENANT MEDICAL CENTER

W-2 MANAGING EMPLOYEE · 1% reported ownership · associated 05/01/2007

governsDAVID MEYER → COVENANT MEDICAL CENTER

CORPORATE DIRECTOR · associated 05/01/2007

  • CMS owner rows establish enrolled legal ownership or control roles; they do not always name the ultimate financial sponsor.
  • Sponsor and portfolio-company labels come from the cited tracker or primary portfolio evidence.

Timeline

Ownership history and events

  1. owns

    The tracker identifies Mary Free Bed Rehabilitation Hospital in the PE ownership chain, and CMS supplies current enrolled-owner records for the facility.

Metrics

Financial and utilization series

MetricPeriodValueMethod note
net patient revenue07/01/2023 to 06/30/2024$740,426,592Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
net patient revenue07/01/2022 to 06/30/2023$680,859,168Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
net patient revenue07/01/2021 to 06/30/2022$685,295,627Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
operating expense07/01/2023 to 06/30/2024$783,617,476Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
operating expense07/01/2022 to 06/30/2023$752,473,247Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
operating expense07/01/2021 to 06/30/2022$766,085,208Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
net income07/01/2023 to 06/30/2024$51,934,486Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
net income07/01/2022 to 06/30/2023$5,526,960Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
net income07/01/2021 to 06/30/2022-$101,600,011Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total assets07/01/2023 to 06/30/2024$868,455,248Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total assets07/01/2022 to 06/30/2023$811,272,322Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total assets07/01/2021 to 06/30/2022$806,735,554Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total liabilities07/01/2023 to 06/30/2024$314,055,778Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total liabilities07/01/2022 to 06/30/2023$308,718,750Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
total liabilities07/01/2021 to 06/30/2022$323,672,608Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
contract labor direct patient care07/01/2023 to 06/30/2024$24,620,972Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
contract labor direct patient care07/01/2022 to 06/30/2023$27,101,232Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
contract labor direct patient care07/01/2021 to 06/30/2022$21,923,690Hospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
fte employees07/01/2023 to 06/30/20243,665.7 FTEHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
fte employees07/01/2022 to 06/30/20233,666.01 FTEHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
fte employees07/01/2021 to 06/30/20223,818.31 FTEHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
beds07/01/2023 to 06/30/2024464 bedsHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
beds07/01/2022 to 06/30/2023464 bedsHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
beds07/01/2021 to 06/30/2022464 bedsHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
patient days07/01/2023 to 06/30/2024121,305 daysHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
patient days07/01/2022 to 06/30/2023123,236 daysHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
patient days07/01/2021 to 06/30/2022130,739 daysHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
discharges07/01/2023 to 06/30/202422,980 dischargesHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
discharges07/01/2022 to 06/30/202321,721 dischargesHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.
discharges07/01/2021 to 06/30/202221,316 dischargesHospital Provider Cost Report value. Compare only like fields and compatible fiscal periods; no causal inference is implied.

Evidence Notes

Contradictions, limitations, and unavailable fields

Open evidence notes
Limitation

CMS corroborates an enrolled ownership chain, but its owner names do not independently reproduce every sponsor or portfolio-company name from the tracker.

Unavailable

Precise acquisition date

Direct connection

Reported parent system or portfolio company: Mary Free Bed Rehabilitation Hospital.

Direct connection

Reported investment sponsor: Graham Healthcare Capital.

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Take the evidence with you

CSVEvidence CSV — every source with dates and URLsSpreadsheet-friendly source audit for this hospitalJSONFull evidence file JSONComplete structured evidence file exactly as published

Sources

Evidence and source documents

governmentHospitals RAPTHomeland Infrastructure Foundation-Level DataresearchPrivate Equity Hospital TrackerPrivate Equity Stakeholder ProjectgovernmentHospital EnrollmentsCenters for Medicare & Medicaid ServicesgovernmentHospital All OwnersCenters for Medicare & Medicaid ServicesgovernmentHospital Provider Cost ReportsCenters for Medicare & Medicaid ServicesgovernmentHospital General InformationCenters for Medicare & Medicaid Services