Kindred Hospital Indianapolis North
Indianapolis, Marion County, IN
· CCN 152013
Licensed to Knd Development 67 Llc
Composite
68.6
rank score
Distress
91
FY2024
Fit
69
vs thesis
Estimated ticket
$9.4M–$37.8M
45 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- current liabilities exceed current assets
- liabilities exceed assets
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $13.9M |
| Operating margin | -24.5% |
| Total margin | -23.4% |
| Days cash on hand | — |
| Current ratio | 0.92 |
| Occupancy | 43% |
Facility
| Beds | 45 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 45 | $18.3M | $622K | 2.7% | 3.4% | 0 | 0.37 | 58% | 406 | 49 |
| 2022 | 45 | $17.2M | $-1.4M | -8.6% | -8.0% | 0 | 0.41 | 47% | 352 | 88 |
| 2023 | 45 | $16.0M | $-1.8M | -11.7% | -11.1% | 0 | 0.62 | 43% | 306 | 97 |
| 2024 | 45 | $13.9M | $-3.3M | -24.5% | -23.4% | — | 0.92 | 43% | 242 | 91 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kentucky Hospital Holdings Jv Lp | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Intermediate Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kindred Healthcare Llc | 5% or greater indirect ownership interest | 100 | 1998-03 | |
| Kindred Healthcare Operating Llc | 5% or greater indirect ownership interest | 100 | 2019-03 | |
| Knd Hospital Real Estate Holdings Llc | 5% or greater direct ownership interest | 100 | 2008-03 | |
| Knd Real Estate Holdings Llc | 5% or greater indirect ownership interest | 100 | 2007-08 | |
| 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 | ||
| Deanna Schiavone | corporate officer | 2022-08 | ||
| Johnetta Traylor | corporate officer | 2024-12 | ||
| Michael Bean | corporate officer | 2004-12 | ||
| Michael Moody | corporate officer | 2022-01 | ||
| Nakia Tremble | operational/managerial control | 2018-08 | ||
| Richard Algood | corporate officer | 2015-02 | ||
| Richard Algood | other | 2015-02 | ||
| Scott Graeser | corporate officer | 2022-08 |
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 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 |
|---|---|---|---|---|
| 2024-01-01 | Nw Indiana-Amg Specialty Hospital Inc | Vibra Hospital Of Northwestern Indiana, Llc | Vibra Hospital Of Northwest Indiana | 40 |