Morris Hospital
dba Morris Hospital & Healthcare Centers ·
Morris, Grundy County, IL
· CCN 140101
Licensed to Morris Hospital
Composite
37.8
rank score
Distress
23
FY2023
Fit
68
vs thesis
Estimated ticket
$44.5M–$178M
89 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $222M |
| Operating margin | -3.5% |
| Total margin | 7.8% |
| Days cash on hand | 119 |
| Current ratio | 2.31 |
| Occupancy | 44% |
Facility
| Beds | 89 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 | 89 | $165M | $6.5M | -7.4% | 3.5% | 95 | 1.74 | 44% | 3,482 | 32 |
| 2021 | 89 | $198M | $13.7M | -3.3% | 6.3% | 97 | 1.43 | 44% | 3,041 | 29 |
| 2022 | 89 | $211M | $7.0M | 1.7% | 3.2% | 107 | 2.17 | 45% | 3,627 | 17 |
| 2023 | 89 | $222M | $19.4M | -3.5% | 7.8% | 119 | 2.31 | 44% | 2,635 | 23 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alex Blumenshine | w-2 managing employee | 2018-04 | ||
| Amanda Donovan | w-2 managing employee | 2023-04 | ||
| Brian Angwin | corporate director | 2014-03 | ||
| David Bzdill | corporate director | 2017-02 | ||
| Gina Hulbert | corporate director | 2023-05 | ||
| Janis Hedenschoug | corporate director | 2019-02 | ||
| Kevin Olson | corporate director | 2016-03 | ||
| Mary Fitzgibbon | corporate director | 2025-04 | ||
| Maxime Gilles | corporate director | 2023-05 | ||
| Michael Jachec | corporate director | 2023-05 | ||
| Michael Lawrence | corporate officer | 2020-03 | ||
| Michael Lawrence | w-2 managing employee | 2020-03 | ||
| Michelle Pruim | corporate director | 2023-03 | ||
| Noreen Dollinger | corporate director | 2016-05 | ||
| Patrick Halloran | corporate director | 2022-03 | ||
| Steven Banghart | corporate director | 2020-04 | ||
| Thomas Dohm | corporate officer | 2022-07 | ||
| Thomas Dohm | w-2 managing employee | 2022-07 |
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 |