Thorek Memorial Hospital
Chicago, Cook County, IL
· CCN 140115
Licensed to Thorek Memorial Hospital
Composite
53.5
rank score
Distress
58
FY2024
Fit
68
vs thesis
Estimated ticket
$66.3M–$265M
156 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- 30-60 days cash on hand
- current ratio under 1.5
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $57.9M |
| Operating margin | -34.6% |
| Total margin | 46.3% |
| Days cash on hand | 41 |
| Current ratio | 1.24 |
| Occupancy | 31% |
Facility
| Beds | 156 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 156 | $48.6M | $105M | -31.6% | 61.8% | 77 | 2.52 | 36% | 4,137 | 43 |
| 2022 | 156 | $51.3M | $-47.2M | -35.0% | -213.0% | 102 | 33.12 | 33% | 3,375 | 54 |
| 2023 | 156 | $53.0M | $57.1M | -35.8% | 44.0% | 126 | 1.93 | 32% | 3,472 | 38 |
| 2024 | 156 | $57.9M | $67.1M | -34.6% | 46.3% | 41 | 1.24 | 31% | 3,472 | 58 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Edward Budd | corporate officer | 100 | 2012-02 | |
| Edward Budd | operational/managerial control | 100 | 2012-02 | |
| Peter Kamberos | corporate director | 12 | 1982-03 | |
| Cynthia Barrera | corporate officer | 1999-03 | ||
| James Nugent | corporate officer | 1991-01 | ||
| James Nugent | corporate director | 1991-01 | ||
| Marc Adajar | corporate director | 2015-01 | ||
| Peter Kamberos | corporate officer | 1998-07 | ||
| Phillip Gorelick | corporate director | 2010-06 | ||
| Robert Baudino | corporate director | 2004-10 | ||
| Timothy Heinrich | w-2 managing employee | 2014-09 |
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 |