Northwestern Lake Forest Hospital
dba Northwestern Medicine Lake Forest Hospital ·
Lake Forest, Lake County, IL
· CCN 140130
Licensed to Northwestern Lake Forest Hospital
Composite
54.5
rank score
Distress
53
FY2024
Fit
76
vs thesis
Estimated ticket
$53.5M–$214M
126 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $565M |
| Operating margin | -3.3% |
| Total margin | -0.3% |
| Days cash on hand | 2 |
| Current ratio | 0.06 |
| Occupancy | 106% |
Facility
| Beds | 126 |
| 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 | 122 | $418M | $-21.0M | -15.2% | -4.6% | 54 | 1.49 | 92% | 11,233 | 60 |
| 2022 | 114 | $453M | $-16.6M | -14.8% | -3.3% | 52 | 1.33 | 113% | 10,684 | 60 |
| 2023 | 122 | $494M | $-20.1M | -13.8% | -3.7% | 1 | 0.65 | 109% | 13,263 | 76 |
| 2024 | 126 | $565M | $-1.8M | -3.3% | -0.3% | 2 | 0.06 | 106% | 13,281 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Northwestern Memorial Healthcare | 5% or greater direct ownership interest | 100 | 2010-02 | |
| Aaron Epstein | corporate director | 2024-09 | ||
| Anthony Kesman | corporate director | 2018-09 | ||
| Bahram Ghaderi | corporate director | 2025-09 | ||
| Beatrice Correa Rivera | corporate director | 2025-06 | ||
| Carol Bernick | corporate director | 2022-09 | ||
| Charles Ruth | corporate director | 2015-10 | ||
| Dean Harrison | corporate director | 2010-02 | ||
| Deborah Saran | corporate director | 2018-09 | ||
| Forrest Whittaker | corporate director | 2018-09 | ||
| Howard Chrisman | corporate director | 2023-01 | ||
| Ikechukwu Chineme | corporate director | 2025-09 | ||
| James Thorpe | corporate director | 2018-01 | ||
| James Zallie | corporate director | 2018-09 | ||
| John Guido | corporate director | 2024-01 | ||
| Jose Carlos Gonzalez-Mendez | corporate director | 2022-09 | ||
| Joseph Crane | corporate director | 2022-09 | ||
| Kermit Crawford | corporate director | 2018-09 | ||
| Kevin Poorten | corporate director | 2022-09 | ||
| Michael Leonard | corporate director | 2022-09 | ||
| Michael Mullen | corporate director | 2021-09 | ||
| Michele Montpetit | corporate director | 2024-09 | ||
| Scott Gwilliam | corporate director | 2022-09 | ||
| Scott Serota | corporate director | 2022-09 | ||
| Seamus Collins | corporate officer | 2024-04 |
Showing 25 of 30. Full list via /api/targets/140130.
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 |