Memorial Hospital
Belleville, St. Clair County, IL
· CCN 140185
Licensed to Protestant Memorial Medical Center, Inc.
Composite
54.4
rank score
Distress
60
FY2023
Fit
68
vs thesis
Estimated ticket
$128M–$510M
300 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin below -8%
- current ratio under 1.5
- 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
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $409M |
| Operating margin | -7.0% |
| Total margin | -14.0% |
| Days cash on hand | — |
| Current ratio | 1.05 |
| Occupancy | 68% |
Facility
| Beds | 300 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 212 | $218M | $-9.8M | -7.1% | -4.0% | 0 | 0.48 | 59% | 9,254 | 77 |
| 2021 | 306 | $351M | $-15.6M | -6.8% | -4.1% | 0 | 0.80 | 65% | 14,292 | 66 |
| 2022 | 298 | $375M | $-151M | -36.9% | -38.9% | 0 | 1.15 | 71% | 15,119 | 70 |
| 2023 | 300 | $409M | $-58.0M | -7.0% | -14.0% | — | 1.05 | 68% | 17,410 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Beatriz Pardo | corporate director | 2017-01 | ||
| Bjc Health System | operational/managerial control | 2018-01 | ||
| Chris Eckert | corporate officer | 2021-01 | ||
| Chris Eckert | corporate director | 2021-01 | ||
| Chris Eckert | operational/managerial control | 2021-01 | ||
| Deborah Graves | corporate officer | 2024-03 | ||
| Deborah Graves | corporate director | 2024-03 | ||
| Deborah Graves | w-2 managing employee | 2024-03 | ||
| Deborah Graves | operational/managerial control | 2024-03 | ||
| Edward Hoering | corporate officer | 2016-01 | ||
| Edward Hoering | corporate director | 2007-10 | ||
| Geri Boyer | corporate officer | 2020-01 | ||
| Geri Boyer | corporate director | 2017-01 | ||
| Geri Boyer | operational/managerial control | 2017-01 | ||
| Hans Moosa | corporate director | 2021-01 | ||
| Hans Moosa | operational/managerial control | 2021-01 | ||
| Jeffrey Dossett | corporate officer | 2020-06 | ||
| Jeffrey Dossett | w-2 managing employee | 2020-06 | ||
| Jeffrey Dossett | operational/managerial control | 2020-06 | ||
| Keith Cook | corporate director | 2021-01 | ||
| Keith Cook | operational/managerial control | 2021-01 | ||
| Kevin Journagan | corporate officer | 2024-09 | ||
| Kevin Journagan | w-2 managing employee | 2024-09 | ||
| Kurtis Schroeder | corporate director | 2021-01 | ||
| Kurtis Schroeder | operational/managerial control | 2021-01 |
Showing 25 of 50. Full list via /api/targets/140185.
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 |