Ascension Providence Hospital
dba Henry Ford Health Providence Southfield Hospital ·
Southfield, Oakland County, MI
· CCN 230019
Licensed to Henry Ford Health Providence Hospital
Composite
52.9
rank score
Distress
60
FY2024
Fit
60
vs thesis
Estimated ticket
$48.3M–$96.6M
568 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very large — likely out of range
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $865M |
| Operating margin | -5.3% |
| Total margin | -2.1% |
| Days cash on hand | 0 |
| Current ratio | 1.04 |
| Occupancy | 72% |
Facility
| Beds | 568 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 535 | $848M | $37.3M | 4.1% | 4.4% | 0 | 0.55 | 69% | 30,236 | 40 |
| 2022 | 558 | $839M | $-17.8M | -5.4% | -2.0% | 0 | 0.78 | 73% | 30,471 | 66 |
| 2023 | 527 | $849M | $-27.9M | -6.5% | -3.2% | 0 | 0.88 | 78% | 31,802 | 66 |
| 2024 | 568 | $865M | $-18.4M | -5.3% | -2.1% | 0 | 1.04 | 72% | 34,146 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ascension Michigan | 5% or greater direct ownership interest | 100 | 2020-05 | chain |
| Henry Ford Health System | 5% or greater indirect ownership interest | 100 | 1987-12 | chain |
| Henry Ford Health Parent | 5% or greater indirect ownership interest | 80 | 2024-10 | |
| Ascension Health | 5% or greater indirect ownership interest | 20 | 2024-10 | |
| Anthony Tersigni | corporate director | 2024-10 | ||
| Barry Porter | corporate director | 2020-01 | ||
| Calvin Ford | corporate director | 2025-01 | ||
| Charles Mcclure | corporate director | 2014-07 | ||
| Daniel Phelan | corporate director | 2022-01 | ||
| David Breen | corporate director | 2015-01 | ||
| Edgar Vann | corporate director | 2015-01 | ||
| Edward Callaghan | corporate director | 2025-01 | ||
| Eugene Lovasco | corporate director | 2024-10 | ||
| Farzan Siddiqui | corporate director | 2024-01 | ||
| Gerardo Norcia | corporate director | 2023-12 | ||
| Gregory Pflum | corporate director | 2025-09 | ||
| Gwendolyn Mackenzie | corporate director | 2025-01 | ||
| Jacalyn Goforth | corporate director | 2022-01 | ||
| Jason Williams | w-2 managing employee | 2024-10 | ||
| Jeffrey Fall | corporate director | 2025-01 | ||
| John Harris | corporate director | 2021-01 | ||
| Joseph Richardson | corporate director | 2016-01 | ||
| Lisa Fitzpatrick | corporate director | 2025-01 | ||
| Marjorie Staten | corporate officer | 2024-10 | ||
| Mary Ann Victor | corporate director | 2025-09 |
Showing 25 of 32. Full list via /api/targets/230019.
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 MI
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 |
|---|---|---|---|---|
| 2018-07-01 | St Joseph Mercy Chelsea Inc | Trinity Health-Michigan | Chelsea Hospital | 79 |