Riverside Medical Center
Kankakee, IL
· CCN 140186
Licensed to Riverside Medical Center
Composite
30.5
rank score
Distress
14
FY2023
Fit
60
vs thesis
Estimated ticket
$128M–$512M
256 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 60-90 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $434M |
| Operating margin | 2.1% |
| Total margin | 11.7% |
| Days cash on hand | 76 |
| Current ratio | 2.61 |
| Occupancy | 40% |
Facility
| Beds | 256 |
| 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 | 256 | $356M | $18.4M | -4.0% | 4.7% | 155 | 2.34 | 48% | 9,149 | 18 |
| 2021 | 256 | $396M | $47.3M | -0.3% | 10.6% | 131 | 1.97 | 51% | 9,521 | 22 |
| 2022 | 256 | $389M | $-58.1M | -6.4% | -16.3% | 81 | 1.79 | 42% | 8,290 | 54 |
| 2023 | 256 | $434M | $56.5M | 2.1% | 11.7% | 76 | 2.61 | 40% | 8,249 | 14 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bill Douglas | corporate officer | 2009-09 | ||
| Connie Ashline | corporate director | 2009-08 | ||
| Francis Smith | corporate director | 2009-08 | ||
| Harry Simmon | corporate director | 2009-08 | ||
| John Avendano | corporate director | 2012-01 | ||
| Lisa Dugan | corporate director | 2012-01 | ||
| Marc Fisher | corporate director | 2009-08 | ||
| Nadeem Ansari | corporate director | 2009-08 | ||
| Patricia Vilt | w-2 managing employee | 2009-09 | ||
| Phillip Kambic | corporate officer | 2009-08 | ||
| Richard Schiltz | w-2 managing employee | 2009-09 | ||
| Stonewall Mccuiston | corporate director | 2009-08 |
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 |