Ascension River District Hospital
dba Henry Ford Health River District Hospital ·
East China, St. Clair County, MI
· CCN 230241
Licensed to Henry Ford Health River District Hospital
Composite
58.6
rank score
Distress
86
FY2024
Fit
45
vs thesis
Estimated ticket
$6.3M–$25.2M
18 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- occupancy below 30%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $17.5M |
| Operating margin | -74.8% |
| Total margin | -57.3% |
| Days cash on hand | 0 |
| Current ratio | 0.83 |
| Occupancy | 16% |
Facility
| Beds | 18 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 68 | $33.9M | $-3.4M | -20.8% | -9.1% | 2 | 0.75 | 15% | 1,116 | 89 |
| 2022 | 68 | $29.8M | $-10.5M | -39.2% | -33.9% | 0 | 0.52 | 12% | 873 | 93 |
| 2023 | 68 | $24.3M | $-11.4M | -52.5% | -44.6% | 0 | 0.51 | 6% | 605 | 89 |
| 2024 | 18 | $17.5M | $-11.1M | -74.8% | -57.3% | 0 | 0.83 | 16% | 385 | 86 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Henry Ford Health System | 5% or greater direct 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 | 2025-09 | ||
| Eugene Lovasco | corporate director | 2024-10 | ||
| Farzan Siddiqui | corporate director | 2024-01 | ||
| Frederiek Toney | corporate director | 2021-01 | ||
| Gerardo Norcia | corporate director | 2023-12 | ||
| Gregory Pflum | corporate director | 2025-09 | ||
| Gwendolyn Mackenzie | corporate director | 2025-09 | ||
| Jacalyn Goforth | corporate director | 2022-01 | ||
| Jason Williams | w-2 managing employee | 2024-10 | ||
| Jeffrey Fall | corporate director | 2025-09 | ||
| John Harris | corporate director | 2021-01 | ||
| Joseph Richardson | corporate director | 2016-01 | ||
| Lisa Fitzpatrick | corporate director | 2025-09 | ||
| Marjorie Staten | corporate officer | 2024-10 | ||
| Mary Ann Victor | corporate director | 2025-09 |
Showing 25 of 32. Full list via /api/targets/230241.
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 |