Sinai-Grace Hospital
Detroit, Wayne County, MI
· CCN 230024
Licensed to Vhs Sinai-Grace Hospital Inc
Composite
57.5
rank score
Distress
70
FY2023
Fit
65
vs thesis
Estimated ticket
$16.9M–$33.9M
242 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
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $306M |
| Operating margin | -10.5% |
| Total margin | -8.7% |
| Days cash on hand | 0 |
| Current ratio | 3.65 |
| Occupancy | 85% |
Facility
| Beds | 242 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 317 | $345M | $54.0M | 5.1% | 14.2% | 25 | 1.29 | 69% | 15,245 | 26 |
| 2021 | 278 | $322M | $4.1M | -8.4% | 1.2% | 1 | 1.37 | 80% | 13,838 | 51 |
| 2022 | 281 | $316M | $-24.9M | -9.2% | -7.8% | 1 | 2.98 | 82% | 12,887 | 57 |
| 2023 | 242 | $306M | $-27.1M | -10.5% | -8.7% | 0 | 3.65 | 85% | 12,564 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Tenet Healthcare Corporation | 5% or greater indirect ownership interest | 100 | 2013-10 | |
| Vanguard Health Financial Company Llc | 5% or greater indirect ownership interest | 100 | 2011-01 | |
| Vanguard Health Holding Company I Llc | 5% or greater indirect ownership interest | 100 | 2011-01 | |
| Vanguard Health Holding Company Ii Llc | 5% or greater indirect ownership interest | 100 | 2011-01 | |
| Vanguard Health Management Inc | 5% or greater indirect ownership interest | 100 | 2011-01 | |
| Vanguard Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2011-01 | |
| Vhs Of Michigan Inc | 5% or greater direct ownership interest | 100 | 2011-01 | |
| Morgan Stanley Dean Witter Capital | 5% or greater indirect ownership interest | 8 | 2011-01 | |
| Angelo Pagano | corporate officer | 2024-07 | ||
| Giridhar Purushotham | corporate officer | 2022-07 | ||
| Giridhar Purushotham | w-2 managing employee | 2022-07 | ||
| Joshua Burkett | corporate officer | 2024-10 | ||
| Kristina Mack | corporate officer | 2014-07 | ||
| Morgan Stanley Dean Witter Capital | 5% or greater direct ownership interest | 2011-01 | ||
| Saumya Sutaria | other | 2019-09 | ||
| Sharilee Smith | corporate director | 2024-03 |
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 |