Ascentist Hospital
dba Ascentist Hospital, Llc ·
Leawood, Johnson County, KS
· CCN 170194
Licensed to Doctors Hospital Llc
Composite
54.3
rank score
Distress
78
FY2023
Fit
48
vs thesis
Estimated ticket
$3.1M–$12.6M
9 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- 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 | $27.3M |
| Operating margin | -18.8% |
| Total margin | -13.4% |
| Days cash on hand | 11 |
| Current ratio | 6.55 |
| Occupancy | 16% |
Facility
| Beds | 9 |
| 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 | 9 | $31.7M | $7.7M | 20.4% | 23.4% | 64 | 1.56 | 24% | 240 | 19 |
| 2021 | 9 | $30.3M | $6.6M | 17.4% | 20.9% | 24 | 2.40 | 35% | 296 | 28 |
| 2022 | 9 | $14.7M | $-2.6M | -19.2% | -17.5% | 12 | 2.07 | 20% | 240 | 76 |
| 2023 | 9 | $27.3M | $-3.7M | -18.8% | -13.4% | 11 | 6.55 | 16% | 210 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ascentist Physicians Group Llc | 5% or greater indirect ownership interest | 100 | 2022-03 | |
| Douglas Cowan | 5% or greater indirect ownership interest | 100 | 2022-03 | |
| Douglas Cowan | operational/managerial control | 100 | 2022-03 | |
| Patientfirst Healthcare Alliance Pa | 5% or greater direct ownership interest | 100 | 2007-01 | |
| Douglas Cowan | corporate officer | 2022-03 | ||
| Linsey Gregory | corporate officer | 2024-05 | ||
| Linsey Gregory | w-2 managing employee | 2024-05 |
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 KS
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 |
|---|---|---|---|---|
| 2024-09-01 | Mercy Hospital Pittsburg Inc | Ascension Via Christi Hospital... | Via Christi Hospital Pittsburg Inc. | 64 |
| 2023-08-26 | South Central Kansas Regional... | South Central Kansas Regional... | South Central Ks Regional Medical Ct | — |
| 2023-01-01 | Stormont Vail Health Flint Hills Llc | Geary County Hospital | Stormont Vail - Flint Hills | 43 |
| 2022-05-01 | Commonspirit Kansas Inc | Dodge City Healthcare Group Llc | St. Catherine Hospital - Dodge City | 99 |
| 2020-01-26 | Mercy Specialty Hospital Southeast Kansas | City Of Galena-Kansas | Mercy Specialty Hospital - Southeast | 26 |
| 2019-05-01 | Adventhealth Ransom Memorial Inc | Ransom Memorial Hospital | Adventhealth Ottawa | 36 |
| 2018-08-01 | Ukhs Great Bend Llc | Great Bend Regional Hospital Llc | Ukhs Great Bend Campus | 29 |