Gateway Regional
dba Gateway Regional Medical Center ·
Granite City, Madison County, IL
· CCN 140125
Licensed to American Healthcare Systems Illinois Llc
Already transacted. CMS recorded an ownership change effective
2023-03-01. Confirm the current owner before spending a call on this.
Composite
20.6
rank score
Distress
78
FY2023
Fit
60
vs thesis
Estimated ticket
$101M–$403M
288 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
- occupancy below 30%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
- changed ownership 2023-03-01 — likely already transacted
Latest financials · FY2023
| Net patient revenue | $14.3M |
| Operating margin | -33.3% |
| Total margin | -32.5% |
| Days cash on hand | 0 |
| Current ratio | 1.72 |
| Occupancy | 16% |
Facility
| Beds | 288 |
| 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 | 288 | $90.1M | $9.6M | -13.6% | 8.6% | 0 | 0.49 | 18% | 4,376 | 72 |
| 2021 | 288 | $97.8M | $126K | -5.1% | 0.1% | 0 | 0.37 | 18% | 4,773 | 70 |
| 2022 | 288 | $98.8M | $-7.4M | -12.5% | -7.1% | 0 | 0.34 | 16% | 4,265 | 89 |
| 2023 | 288 | $14.3M | $-4.7M | -33.3% | -32.5% | 0 | 1.72 | 16% | 696 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| American Healthcare Systems Corp Inc | 5% or greater direct ownership interest | 100 | 2023-03 | |
| Mike Sarian | 5% or greater indirect ownership interest | 51 | 2023-03 | |
| Elizabeth Rosenthal | corporate officer | 2022-08 | ||
| Jonathan Burket | corporate officer | 2023-03 | ||
| Jonathan Burket | w-2 managing employee | 2023-03 | ||
| Jonathan Burket | operational/managerial control | 2023-03 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-03-01 | change of ownership | American Healthcare Systems... | Granite City Illinois Hospital... |
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 |