Norton Hospitals Inc
Louisville, Jefferson County, KY
· CCN 180088
Licensed to Norton Hospitals, Inc
Composite
15.6
rank score
Distress
38
FY2023
Fit
55
vs thesis
Estimated ticket
$758M–$3.0B
1,515 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $3.0B |
| Operating margin | 2.5% |
| Total margin | 2.7% |
| Days cash on hand | 0 |
| Current ratio | -51.10 |
| Occupancy | 68% |
Facility
| Beds | 1,515 |
| 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 | 1,450 | $2.0B | $102M | 1.7% | 4.8% | 0 | 0.85 | 65% | 75,106 | 38 |
| 2021 | 1,465 | $2.5B | $325M | 11.2% | 12.9% | 0 | 1.33 | 72% | 76,823 | 26 |
| 2022 | 1,479 | $2.6B | $80.1M | 2.0% | 3.1% | 0 | 2.39 | 71% | 73,881 | 29 |
| 2023 | 1,515 | $3.0B | $79.8M | 2.5% | 2.7% | 0 | -51.10 | 68% | 74,196 | 38 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Norton Healthcare Inc | operational/managerial control | 100 | 2007-10 | |
| Adam Kempf | corporate officer | 2018-04 | ||
| Barry Pennybaker | corporate director | 2015-04 | ||
| Craig Grant | corporate director | 2007-10 | ||
| David Craig | corporate director | 2022-01 | ||
| Denise Clayton | corporate director | 2021-04 | ||
| Donald Robinson | corporate director | 2014-04 | ||
| Edith Nixon | corporate director | 2011-04 | ||
| Elizabeth Truax | corporate director | 2025-03 | ||
| Gail Lyttle | corporate director | 2024-04 | ||
| Gary Stewart | corporate director | 2010-04 | ||
| George Rounsavall | corporate director | 2014-04 | ||
| Gregory Mayes | corporate director | 2013-04 | ||
| Kyle White | w-2 managing employee | 2009-10 | ||
| Lee Garlove | corporate director | 2016-04 | ||
| Maria Bouvette | corporate director | 2019-04 | ||
| Maria Hampton | corporate director | 2024-04 | ||
| Martha Heyburn | corporate director | 2024-04 | ||
| Richard Ivy | corporate director | 2012-04 | ||
| Robert Azar | corporate officer | 2007-10 | ||
| Ronald Lehocky | corporate director | 2013-04 | ||
| Russell Cox | corporate officer | 2007-10 | ||
| Russell Cox | corporate director | 2017-01 | ||
| Scott Reed | w-2 managing employee | 2023-02 | ||
| Shelley Gast | corporate officer | 2024-07 |
Showing 25 of 26. Full list via /api/targets/180088.
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 KY
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 |
|---|---|---|---|---|
| 2024-07-01 | Bowling Green-Warren County... | Logan Memorial Hospital Llc | Logan Memorial Hospital | 37 |
| 2021-12-01 | Arh Tug Valley Health Services Inc | Paintsville Hospital Company Llc | Paintsville Arh Hospital | 39 |
| 2021-01-01 | Owensboro Health Twin Lakes... | Grayson County Hospital Foundation Inc | Owensboro Health Twin Lakes Medical | 49 |
| 2020-09-01 | Baptist Healthcare System Inc | Hardin Memorial Hospital | Baptist Health Hardin | 271 |
| 2019-11-01 | Uofl Health-Louisville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Louisville | 789 |
| 2019-11-01 | Uofl Health-Shelbyville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Shelbyville | 32 |
| 2019-09-01 | Baptist Healthcare System Inc | Baptist Health Richmond Inc | Baptist Health Richmond | 53 |
| 2019-08-01 | Arh Tug Valley Health Services Inc | Highlands Hospital Corp | Highlands Regional Medical Center | 63 |
| 2016-02-11 | T J Health Columbia Inc | Adair County Hospital District | Tj Health Columbia | 49 |