North Star Hospital
Anchorage, AK
· CCN 024001
Licensed to Frontline Hospital Llc
Composite
59.6
rank score
Distress
64
FY2023
Fit
77
vs thesis
Estimated ticket
$32.7M–$131M
140 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $25.3M |
| Operating margin | -0.6% |
| Total margin | 0.1% |
| Days cash on hand | 3 |
| Current ratio | -0.09 |
| Occupancy | 38% |
Facility
| Beds | 140 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 140 | $29.1M | $3.6M | 10.9% | 12.1% | 0 | -0.05 | 50% | 729 | 38 |
| 2021 | 140 | $31.2M | $3.9M | 11.5% | 12.4% | 1 | -0.06 | 51% | 782 | 38 |
| 2022 | 140 | $27.4M | $-1.3M | -5.7% | -4.7% | 0 | -0.03 | 45% | 732 | 76 |
| 2023 | 140 | $25.3M | $21.0K | -0.6% | 0.1% | 3 | -0.09 | 38% | 816 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2014-01 | |
| Cheryl Ramagano | operational/managerial control | 100 | 2014-01 | |
| Frontline Behavioral Health, Inc. | 5% or greater direct ownership interest | 100 | 2002-09 | |
| George Brunner | corporate officer | 100 | 2014-01 | |
| Matthew Klein | corporate officer | 100 | 2010-10 | |
| Matthew Peterson | corporate officer | 100 | 2019-09 | |
| Matthew Peterson | operational/managerial control | 100 | 2019-09 | |
| Robert Zurad | corporate officer | 100 | 2002-09 | |
| Steve Filton | corporate officer | 100 | 2003-01 | |
| Steve Filton | operational/managerial control | 100 | 2003-01 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | 5% or greater indirect ownership interest | 100 | 2002-09 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2002-09 | |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2002-09 | |
| James Coleman | contracted managing employee | 50 | 2014-01 | |
| Matthew Peterson | corporate director | 33 | 2019-09 | |
| Steve Filton | corporate director | 33 | 2003-01 | |
| Thomas Day | corporate director | 33 | 2021-07 | |
| Alan Miller | 5% or greater direct ownership interest | 2002-09 | ||
| Marie Bingham | contracted managing employee | 2023-05 | ||
| Marie Bingham | corporate officer | 2023-05 | ||
| William Newcombe | contracted managing employee | 2023-03 | ||
| William Newcombe | corporate officer | 2023-03 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.