Adventhealth Porter Hospital
dba Adventhealth Porter ·
Denver, Denver County, CO
· CCN 060064
Licensed to Portercare Adventist Health System
Composite
55.8
rank score
Distress
62
FY2023
Fit
65
vs thesis
Estimated ticket
$15.3M–$30.6M
180 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- current ratio under 1.5
- debt above 85% of assets
- occupancy 45-60%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $305M |
| Operating margin | -22.8% |
| Total margin | -19.7% |
| Days cash on hand | 563 |
| Current ratio | 1.04 |
| Occupancy | 45% |
Facility
| Beds | 180 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 180 | $259M | $-17.1M | -16.9% | -6.0% | 0 | 0.29 | 45% | 5,757 | 86 |
| 2021 | 180 | $331M | $5.7M | -1.9% | 1.7% | 0 | 1.54 | 54% | 6,284 | 48 |
| 2022 | 180 | $320M | $-22.7M | -10.5% | -6.9% | 0 | 2.74 | 51% | 6,345 | 64 |
| 2023 | 180 | $305M | $-61.6M | -22.8% | -19.7% | 563 | 1.04 | 45% | 6,095 | 62 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2001-10 | chain |
| Alexandra Smart | corporate director | 2023-07 | ||
| Andrew Jahn | corporate officer | 2024-04 | ||
| Andrew Jahn | corporate director | 2024-04 | ||
| Andrew Whitlock | contracted managing employee | 2023-08 | ||
| Andrew Whitlock | corporate director | 2023-08 | ||
| Andrew Whitlock | operational/managerial control | 2023-08 | ||
| Beverly Morgan | corporate officer | 2025-08 | ||
| Brett Spenst | corporate officer | 2023-08 | ||
| Brett Spenst | corporate director | 2023-08 | ||
| David Huffman | corporate officer | 2024-08 | ||
| David Vandevere | corporate director | 2025-08 | ||
| David Weis | corporate officer | 2026-01 | ||
| David Weis | corporate director | 2026-04 | ||
| Diane Godfrey | corporate officer | 2025-12 | ||
| Douglas Pytlinski | corporate officer | 2026-04 | ||
| Gary Thurber | corporate director | 2023-08 | ||
| Gayle Pottle | corporate director | 2023-07 | ||
| Haney Vincent | corporate officer | 2021-12 | ||
| Ingrid Johnson | corporate director | 2023-07 | ||
| Jeffrey Graff | corporate officer | 2014-09 | ||
| Jeremy Pittman | corporate officer | 2024-04 | ||
| Karsten Randolph | corporate director | 2023-08 | ||
| Lars Houmann | corporate director | 2023-08 | ||
| Lynn Addiscott | corporate officer | 2005-11 |
Showing 25 of 37. Full list via /api/targets/060064.
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 |