Vista Medical Center - East
dba Vista Medical Center East ·
Waukegan, Lake County, IL
· CCN 140084
Licensed to Waukegan Illinois Hospital Company Llc
Composite
72.2
rank score
Distress
97
FY2023
Fit
72
vs thesis
Estimated ticket
$66.5M–$266M
190 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- 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 | $139M |
| Operating margin | -14.3% |
| Total margin | -13.5% |
| Days cash on hand | 0 |
| Current ratio | 0.45 |
| Occupancy | 43% |
Facility
| Beds | 190 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 | 190 | $144M | $11.8M | -4.0% | 7.3% | 0 | 0.42 | 53% | 8,892 | 58 |
| 2021 | 190 | $143M | $-15.9M | -12.1% | -11.0% | 0 | 0.28 | 53% | 8,459 | 93 |
| 2022 | 190 | $139M | $-29.3M | -22.0% | -20.8% | 0 | 0.19 | 50% | 7,755 | 93 |
| 2023 | 190 | $139M | $-19.0M | -14.3% | -13.5% | 0 | 0.45 | 43% | 7,101 | 97 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ahs Vista Llc | 5% or greater indirect ownership interest | 100 | 2023-07 | |
| American Healthcare Systems Corp Inc | 5% or greater indirect ownership interest | 100 | 2023-07 | |
| Mike Sarian | 5% or greater indirect ownership interest | 100 | 2023-07 | |
| Waukegan Hospital Corporation | 5% or greater direct ownership interest | 100 | 2016-04 | |
| Jonathan Burket | corporate officer | 2023-07 | ||
| Jonathan Burket | operational/managerial control | 2023-07 |
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 IL
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 |
|---|---|---|---|---|
| 2025-03-01 | Saint Joseph Medical Center - Joliet Llc | Presence Central And Suburban... | Presence St. Joseph Medical Center | 425 |
| 2025-03-01 | St Marys Hospital - Kankakee Llc | Presence Central And Suburban... | Presence St. Marys Hospital | 169 |
| 2025-03-01 | Mercy Medical Center - Aurora Llc | Presence Central And Suburban... | Presence Mercy Medical Center | 190 |
| 2025-03-01 | Saint Joseph Hospital - Elgin Llc | Presence Central And Suburban... | Presence Saint Joseph Hospital Elgin | 144 |
| 2025-03-01 | Saint Francis Hospital - Evanston Llc | Presence Chicago Hospitals Network | Presence Saint Francis Hospital | 146 |
| 2025-03-01 | Resurrection Medical Center - Chicago Llc | Presence Chicago Hospitals Network | Presence Resurrection Medical Center | 221 |
| 2025-03-01 | Saint Mary Of Nazareth Hospital -... | Presence Chicago Hospitals Network | Presence Saints Mary & Elizabeth Med | 296 |
| 2025-01-01 | Osf Healthcare System | Katherine Shaw Bethea Hospital | Katherine Shaw Bethea Hospital | 80 |
| 2023-03-01 | American Healthcare Systems Illinois Llc | Granite City Illinois Hospital Company Llc | Gateway Regional | 288 |
| 2023-01-14 | Deaconess Illinois Crossroads Inc | National Healthcare Of Mt Vernon Inc | Crossroads Community Hospital | 47 |
| 2023-01-14 | Deaconess Regional Healthcare... | Marion Hospital Corporation | Heartland Regional Medical Center | 94 |
| 2020-12-01 | Advocate Health And Hospitals Corporation | Advocate Health And Hospitals Corporation | Advocate Southland Health Network | 438 |
| 2020-07-01 | Carle Bromenn Medical Center | Advocate Health And Hospitals Corporation | Carle Bromenn Medical Center | 206 |
| 2020-02-01 | Osf Healthcare System | Little Company Of Mary Hospital Inc | Little Company Of Mary | 222 |
| 2019-10-01 | Thorek Memorial Hospital | Bethany Homes And Methodist Hospital | Methodist Hospital Of Chicago | 141 |