Harper- Hutzel Hospital
dba Harper University Hospital ·
Detroit, Wayne County, MI
· CCN 230104
Licensed to Vhs Harper-Hutzel Hospital Inc
Composite
53.9
rank score
Distress
62
FY2023
Fit
65
vs thesis
Estimated ticket
$19.0M–$38.1M
224 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- margin deteriorating
- 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 | $382M |
| Operating margin | -11.3% |
| Total margin | -4.0% |
| Days cash on hand | 0 |
| Current ratio | 4.13 |
| Occupancy | 76% |
Facility
| Beds | 224 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 370 | $385M | $3.8M | -18.2% | 0.8% | 0 | 1.11 | 68% | 16,219 | 57 |
| 2021 | 328 | $422M | $5.0M | -4.9% | 1.1% | 0 | 1.70 | 63% | 14,014 | 41 |
| 2022 | 237 | $376M | $-23.5M | -13.6% | -5.8% | 0 | 3.37 | 76% | 11,438 | 62 |
| 2023 | 224 | $382M | $-16.4M | -11.3% | -4.0% | 0 | 4.13 | 76% | 11,160 | 62 |
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 | |
| Angelo Pagano | corporate officer | 2024-07 | ||
| Joshua Burkett | corporate officer | 2024-10 | ||
| Joshua Hester | corporate officer | 2024-04 | ||
| Joshua Hester | w-2 managing employee | 2024-04 | ||
| Kristina Mack | corporate officer | 2014-07 | ||
| 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 |