North Suburban Medical Center
dba Hca Healthone Mountain Ridge Hospital ·
Thornton, Adams County, CO
· CCN 060065
Licensed to Hca Healthone Llc
Composite
52.9
rank score
Distress
36
FY2023
Fit
87
vs thesis
Estimated ticket
$69.5M–$278M
139 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- 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
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $171M |
| Operating margin | 1.7% |
| Total margin | 2.0% |
| Days cash on hand | 3 |
| Current ratio | 2.73 |
| Occupancy | 62% |
Facility
| Beds | 139 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 139 | $172M | $23.5M | 13.5% | 13.7% | 3 | 1.64 | 69% | 7,425 | 22 |
| 2021 | 140 | $183M | $24.4M | 13.2% | 13.3% | 4 | 2.11 | 69% | 7,047 | 22 |
| 2022 | 115 | $160M | $7.7M | 4.6% | 4.8% | 3 | 2.39 | 68% | 6,392 | 22 |
| 2023 | 139 | $171M | $3.5M | 1.7% | 2.0% | 3 | 2.73 | 62% | 7,421 | 36 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Colorado Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2011-10 | |
| Hca Healthcare Inc | 5% or greater indirect ownership interest | 100 | 2011-08 | |
| Hca Inc | 5% or greater indirect ownership interest | 100 | 2011-08 | chain |
| Jennifer Gilden | corporate officer | 100 | 2026-02 | |
| Jennifer Gilden | w-2 managing employee | 100 | 2026-02 | |
| Ryan Thornton | corporate officer | 100 | 2024-04 | |
| Ryan Thornton | w-2 managing employee | 100 | 2024-04 | |
| Healthone Of Denver, Inc | 5% or greater direct ownership interest | 37 | 2011-10 | |
| Galen Of Aurora Inc | 5% or greater direct ownership interest | 26 | 2011-08 | |
| New Rose Holding Company Inc | 5% or greater direct ownership interest | 26 | 2011-10 | |
| Frisco Holding Ii | 5% or greater indirect ownership interest | 16 | 2026-02 | |
| Hercules Holding Ii | 5% or greater indirect ownership interest | 14 | 2011-08 | |
| Galen Holdco Llc | 5% or greater direct ownership interest | 10 | 2011-08 | |
| Healthtrust Inc - The Hospital Company | 5% or greater direct ownership interest | 0 | 2011-08 | |
| Eric Smith | contracted managing employee | 2021-03 | ||
| Frisco Holding Ii | 5% or greater direct ownership interest | 2011-10 | ||
| Frisco Holding Ii | 5% or greater indirect ownership interest | 2011-10 |
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 |