dealflow
envelope $200M

← Targets

Marianjoy Rehab Hospital & Clinic

dba Northwestern Medicine Marianjoy Rehabilitation Hospital · Wheaton, Dupage County, IL · CCN 143027
Licensed to Marianjoy Rehabilitation Hospital & Clinics Inc

Composite
51.6
rank score
Distress
43
FY2024
Fit
80
vs thesis
Estimated ticket
$40.6M–$162M
125 beds · within envelope
Ownership
nonprofit
RH

Why it ranks here

  • operating margin -10% to -5%
  • total margin under 2%
  • under 30 days cash on hand
  • urban — higher occupancy and iteration surface
  • specialty facility — narrower problem scope
  • 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$92.9M
Operating margin -5.3%
Total margin 1.6%
Days cash on hand 25
Current ratio 1.70
Occupancy90%

Facility

Beds125
Facility typeRH
Settingurban
Ownership classnonprofit
Per-bed (low) $325K
Per-bed (high) $1.3M

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2021 125 $84.2M $558K -4.1% 0.6% 27 3.02 94% 2,795 41
2022 125 $81.3M $-378K -9.6% -0.4% 27 1.75 92% 2,788 52
2023 125 $86.3M $-1.2M -10.0% -1.3% 26 1.66 86% 2,823 52
2024 125 $92.9M $1.6M -5.3% 1.6% 25 1.70 90% 2,924 43

Owners

OwnerRole%SinceType
Northwestern Memorial Healthcare
Chicago, IL
5% or greater direct ownership interest 100 2017-09
Anne Hubling corporate director 2022-03
Daniel Bunnell corporate director 2025-06
Kevin Poorten corporate director 2025-06
Larissa Pavone corporate director 2024-05
Michael Mullen w-2 managing employee 2022-07
Silpa Katta corporate director 2023-09

Ownership changes

No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.