Lutheran Medical Center
dba Intermountain Health Lutheran Hospital ·
Wheat Ridge, Jefferson County, CO
· CCN 060009
Licensed to Intermountain Front Range, Inc.
Composite
72.4
rank score
Distress
82
FY2023
Fit
84
vs thesis
Estimated ticket
$84.7M–$339M
242 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $409M |
| Operating margin | -17.6% |
| Total margin | -25.6% |
| Days cash on hand | 0 |
| Current ratio | -7.19 |
| Occupancy | 64% |
Facility
| Beds | 242 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 160 | $377M | $-2.9M | -10.2% | -0.7% | 0 | 4.63 | 77% | 10,986 | 58 |
| 2021 | 223 | $402M | $-1.0M | -0.1% | -0.2% | 0 | 1.16 | 72% | 12,629 | 49 |
| 2022 | 242 | $397M | $-66.1M | -15.0% | -16.0% | 0 | -1.69 | 66% | 12,576 | 80 |
| 2023 | 242 | $409M | $-103M | -17.6% | -25.6% | 0 | -7.19 | 64% | 12,735 | 82 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Integrity Health | 5% or greater direct ownership interest | 100 | 2024-07 | |
| Andrea Burch | corporate officer | 2024-05 | ||
| Andrea Burch | w-2 managing employee | 2024-05 | ||
| Ashley Denton | corporate officer | 2021-09 | ||
| Ashley Denton | operational/managerial control | 2021-09 | ||
| Christine Forkner | corporate director | 2018-01 | ||
| Cynthia Delaria | corporate director | 2025-06 | ||
| David Kinnard | corporate director | 2017-01 | ||
| Donald Childears | corporate director | 2025-06 | ||
| Elisa Young | corporate director | 2025-06 | ||
| Faye Hummel | corporate director | 2015-10 | ||
| Intermountain Health Care, Inc | operational/managerial control | 2022-04 | chain | |
| James Capp | corporate director | 2024-01 | ||
| Jeffrey Bernard | corporate director | 2025-06 | ||
| Katherine Boelter | corporate director | 2020-01 | ||
| Kelly Dunkin | corporate director | 2020-01 | ||
| Melissa Whitmer | corporate director | 2024-01 | ||
| Pradeep Dhar | corporate director | 2025-06 | ||
| Robert Allen | other | 2023-10 | ||
| Scott Peek | corporate director | 2025-01 | ||
| Stephen Frankel | corporate director | 2021-05 | ||
| Steven Brown | corporate director | 2024-01 | ||
| Teresa Kostenbauer | corporate director | 2025-06 |
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 CO
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 |
|---|---|---|---|---|
| 2022-05-01 | Catholic Health Initiatives Colorado | Phc-Fort Morgan Inc | St. Elizabeth Hospital | 33 |