Union Hospital Inc.
dba Union Hospital Inc ·
Terre Haute, Vigo County, IN
· CCN 150023
Licensed to Union Hospital Inc
Already transacted. CMS recorded an ownership change effective
2025-12-13. Confirm the current owner before spending a call on this.
Composite
13.2
rank score
Distress
18
FY2023
Fit
74
vs thesis
Estimated ticket
$130M–$520M
260 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 30-60 days cash on hand
- current ratio under 1.5
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
- changed ownership 2025-12-13 — likely already transacted
Latest financials · FY2023
| Net patient revenue | $631M |
| Operating margin | 5.7% |
| Total margin | 15.1% |
| Days cash on hand | 42 |
| Current ratio | 1.32 |
| Occupancy | 74% |
Facility
| Beds | 260 |
| 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 | 242 | $477M | $58.6M | 8.5% | 10.8% | 93 | 1.88 | 70% | 14,593 | 4 |
| 2021 | 244 | $528M | $67.3M | 8.2% | 11.5% | 61 | 1.66 | 77% | 14,508 | 10 |
| 2022 | 258 | $582M | $14.7M | 3.8% | 2.6% | 34 | 1.28 | 70% | 14,382 | 20 |
| 2023 | 260 | $631M | $106M | 5.7% | 15.1% | 42 | 1.32 | 74% | 16,537 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Union Hospital Inc | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Donald Scott | corporate officer | 2018-01 | ||
| Donald Scott | corporate director | 2014-10 | ||
| John Aidoo | corporate director | 2021-01 | ||
| John Etling | corporate director | 2019-01 | ||
| Kathleen Coutinho | corporate director | 2019-01 | ||
| Kenneth Kigorwe | corporate director | 2021-01 | ||
| Luke Terry | corporate officer | 2021-01 | ||
| Luke Terry | corporate director | 2021-01 | ||
| Mary Doti | corporate director | 2018-01 | ||
| Molly Callahan | corporate director | 2005-10 | ||
| Richard Templeton | corporate director | 2024-01 | ||
| Robert Coons | corporate officer | 2018-01 | ||
| Robert Coons | corporate director | 2014-10 | ||
| Sara Smith | corporate officer | 2018-01 | ||
| Sara Smith | corporate director | 2014-10 | ||
| Steven Holman | corporate officer | 2014-04 | ||
| Steven Holman | w-2 managing employee | 2014-04 | ||
| Tim Sullivan | corporate director | 2021-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2025-12-13 | acquisition/merger | Union Hospital Inc | Terre Haute Regional Hospital Lp |
Who has been buying in IN
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 |
|---|---|---|---|---|
| 2025-12-28 | Indiana University Health Inc | Indiana University Health North... | Indiana University Health | 1,274 |
| 2025-12-13 | Union Hospital Inc | Terre Haute Regional Hospital Lp | Union Hospital Inc. | 260 |
| 2025-07-01 | Parkview Logansport Hospital Inc | Memorial Hospital | Memorial Hospital Logansport | 37 |
| 2024-03-01 | Franciscan Health Michigan City | Franciscan Beacon Hospital, Llc | Franciscan Health Michigan City | 133 |
| 2020-11-01 | St Elizabeth Medical Center, Inc | Dearborn County Hospital | St Elizabeth Dearborn | 50 |
| 2019-07-16 | Reid Hospital & Health Care Services Inc | Fayette Memorial Hospital Association Inc | Reid Hospital & Health Care Services | 183 |