Advocate North Side Health Network
dba Advocate Illinois Masonic Medical Center ·
Chicago, Cook County, IL
· CCN 140182
Licensed to Advocate North Side Health Network
Composite
30.7
rank score
Distress
5
FY2023
Fit
66
vs thesis
Estimated ticket
$118M–$474M
237 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- current ratio under 1.5
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $786M |
| Operating margin | 17.8% |
| Total margin | 23.3% |
| Days cash on hand | 607 |
| Current ratio | 1.11 |
| Occupancy | 56% |
Facility
| Beds | 237 |
| 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 | 243 | $582M | $89.7M | 10.2% | 14.7% | 791 | 1.02 | 59% | 11,677 | 6 |
| 2021 | 237 | $624M | $113M | 15.5% | 17.6% | 611 | 0.92 | 62% | 11,234 | 9 |
| 2022 | 233 | $713M | $148M | 18.5% | 20.3% | 345 | 1.03 | 61% | 10,730 | 3 |
| 2023 | 237 | $786M | $196M | 17.8% | 23.3% | 607 | 1.11 | 56% | 10,752 | 5 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Advocate Aurora Health, Inc. | 5% or greater indirect ownership interest | 100 | 2018-04 | |
| Advocate Aurora Health, Inc. | operational/managerial control | 100 | 2018-04 | |
| Advocate Health And Hospitals Corporation | 5% or greater direct ownership interest | 100 | 2011-03 | chain |
| Advocate Health Care Network | 5% or greater indirect ownership interest | 100 | 1997-01 | |
| Advocate Health Inc | operational/managerial control | 2022-12 | ||
| Clarence Nixon | corporate officer | 2025-01 | ||
| Clarence Nixon | corporate director | 2005-10 | ||
| David Anderson | corporate director | 2008-10 | ||
| Desiree Millet | corporate officer | 2026-06 | ||
| Dia Nichols | corporate officer | 2024-10 | ||
| Dia Nichols | corporate director | 2024-10 | ||
| Gail Hasbrouck | corporate director | 2004-01 | ||
| Harold Slinkman | corporate officer | 2023-06 | ||
| Kara Richardson | corporate officer | 2024-10 | ||
| Kathie Bender Schwich | corporate director | 2023-06 | ||
| Lindsay Durgin | corporate officer | 2025-07 | ||
| Mark Harris | corporate director | 2005-10 | ||
| Matthew Primack | w-2 managing employee | 2025-05 | ||
| Nathaniel Edmond | corporate officer | 2025-01 | ||
| Nathaniel Edmond | corporate director | 2013-06 | ||
| Rachel Halverson | corporate officer | 2023-06 | ||
| Rachelle Hart | corporate officer | 2023-06 | ||
| Tori Munnik | corporate officer | 2026-06 |
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 |