Pinnacle Hospital
Crown Point, Lake County, IN
· CCN 150166
Licensed to Pinnacle Healthcare Llc
Composite
57.0
rank score
Distress
76
FY2023
Fit
57
vs thesis
Estimated ticket
$6.3M–$25.2M
18 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin negative
- total margin -8% to -3%
- 30-60 days cash on hand
- current liabilities exceed current assets
- liabilities exceed assets
- occupancy below 30%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $51.3M |
| Operating margin | -4.8% |
| Total margin | -5.6% |
| Days cash on hand | 39 |
| Current ratio | 0.87 |
| Occupancy | 28% |
Facility
| Beds | 18 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 18 | $49.2M | $2.1M | 4.4% | 4.3% | 53 | 1.36 | 31% | 606 | 30 |
| 2021 | 18 | $54.7M | $7.4M | 3.9% | 12.2% | 53 | 1.62 | 29% | 630 | 33 |
| 2022 | 18 | $57.3M | $1.4M | 1.9% | 2.3% | 29 | 1.18 | 27% | 658 | 52 |
| 2023 | 18 | $51.3M | $-2.9M | -4.8% | -5.6% | 39 | 0.87 | 28% | 658 | 76 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Arshad Malik | corporate officer | 2015-02 | ||
| Brent Jacobus | 5% or greater direct ownership interest | 2007-04 | ||
| Brent Jacobus | other | 2015-02 | ||
| Brett Brechner | corporate officer | 2015-02 | ||
| David Bleza | corporate officer | 2015-01 | ||
| Eric Leestma | 5% or greater direct ownership interest | 2007-04 | ||
| Eric Leestma | general partnership interest | 2017-01 | ||
| Eric Leestma | corporate director | 2015-02 | ||
| Haroon Ansari | corporate officer | 2010-05 | ||
| Haroon Ansari | w-2 managing employee | 2015-03 | ||
| Lonnie Ailes | 5% or greater direct ownership interest | 2007-04 | ||
| Lonnie Ailes | general partnership interest | 2017-01 | ||
| Lonnie Ailes | corporate officer | 2015-02 | ||
| Pinnacle Healthcare Llc | 5% or greater direct ownership interest | 2007-04 | ||
| Ramesh Kanuru | 5% or greater direct ownership interest | 2007-04 | ||
| Ramesh Kanuru | corporate officer | 2015-02 | ||
| Ramesh Unni | general partnership interest | 2017-01 | ||
| William Pierce | 5% or greater direct ownership interest | 2017-01 | ||
| William Pierce | general partnership interest | 2017-01 | ||
| William Pierce | corporate officer | 2015-02 |
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 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 |