Kindred Hospital Chicago
dba Kindred Hospital - Chicago ·
Northlake, Cook County, IL
· CCN 142008
Licensed to Kindred Chicago Northlake, Llc
Composite
68.5
rank score
Distress
87
FY2024
Fit
74
vs thesis
Estimated ticket
$38.9M–$155M
185 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- debt above 85% of assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $57.1M |
| Operating margin | -50.6% |
| Total margin | -12.5% |
| Days cash on hand | 0 |
| Current ratio | 0.83 |
| Occupancy | 49% |
Facility
| Beds | 185 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 185 | $26.9M | $1.7M | 5.8% | 6.1% | 0 | 0.40 | 57% | 527 | 46 |
| 2021 | 185 | $68.2M | $3.6M | 4.2% | 5.2% | 0 | 0.57 | 61% | 1,309 | 43 |
| 2022 | 185 | $73.0M | $3.0M | -19.1% | 3.3% | 0 | 1.08 | 56% | 1,754 | 60 |
| 2023 | 185 | $71.0M | $210K | -23.5% | 0.2% | 0 | 0.93 | 55% | 1,608 | 69 |
| 2024 | 185 | $57.1M | $-9.6M | -50.6% | -12.5% | 0 | 0.83 | 49% | 1,444 | 87 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kentucky Hospital Holdings Jv Lp | 5% or greater indirect ownership interest | 100 | 2020-12 | |
| Kentucky Hospital Holdings Llc | 5% or greater indirect ownership interest | 100 | 2020-12 | |
| Kentucky Hospital Intermediate Llc | 5% or greater indirect ownership interest | 100 | 2020-12 | |
| Kindred Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2020-12 | |
| Kindred Healthcare Operating Llc | 5% or greater direct ownership interest | 100 | 2020-12 | |
| Knight Health Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Knight Health Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Dana Rock | corporate officer | 2024-12 | ||
| Darla Beranek | corporate officer | 2026-01 | ||
| Deanna Schiavone | corporate officer | 2022-08 | ||
| Johnetta Traylor | corporate officer | 2024-12 | ||
| Linn Billingsley | corporate officer | 2026-01 | ||
| Michael Bean | corporate officer | 2020-12 | ||
| Nancie Trueman | operational/managerial control | 2025-12 | ||
| Scott Graeser | corporate officer | 2022-08 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2020-12-16 | change of ownership | Kindred Chicago Northlake, Llc | Kindred Thc Chicago, Llc |
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 | Holy Family Medical Center - Des... | Presence Chicago Hospitals Network | Holy Family Medical Center | 128 |
| 2020-12-16 | Kindred Chicago Northlake, Llc | Kindred Thc Chicago, Llc | Kindred Hospital Chicago | 185 |