Brightwell Behavioral Health
East Lansing, Henry County, MI
· CCN 234044
Licensed to Lansing Senior Partners Llc
Composite
62.5
rank score
Distress
82
FY2023
Fit
64
vs thesis
Estimated ticket
$4.4M–$17.7M
23 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- very small facility
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $5.5M |
| Operating margin | -28.3% |
| Total margin | -24.6% |
| Days cash on hand | 0 |
| Current ratio | 0.56 |
| Occupancy | 76% |
Facility
| Beds | 23 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 23 | $940K | $-1.7M | -183.7% | -169.3% | 50 | 2.21 | 32% | 68 | 78 |
| 2021 | 23 | $4.9M | $-284K | -12.3% | -5.4% | 0 | 1.45 | 56% | 300 | 79 |
| 2022 | 23 | $6.5M | $-299K | -9.1% | -4.4% | 9 | 1.22 | 73% | 310 | 71 |
| 2023 | 23 | $5.5M | $-1.4M | -28.3% | -24.6% | 0 | 0.56 | 76% | 438 | 82 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brightwell Group, Llc | 5% or greater direct ownership interest | 100 | 2025-01 | |
| Jafar Nazeer | operational/managerial control | 100 | 2025-01 | |
| Lansing Psych Senior Real Estate Partners Llc | 5% or greater mortgage interest | 100 | 2019-01 | |
| Lansing Senior Partners Llc | operational/managerial control | 100 | 2019-01 | |
| Jafar Nazeer | 5% or greater indirect ownership interest | 33 | 2025-01 | |
| Kesava Kunapareddy | 5% or greater indirect ownership interest | 33 | 2025-01 | |
| Saikumar Shankaiahgari | 5% or greater indirect ownership interest | 33 | 2025-01 | |
| Trillium Health Care Management, Llc | 5% or greater indirect ownership interest | 33 | 2025-01 |
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 |
|---|---|---|---|---|
| 2025-02-23 | Hfhs-Acadia Joint Venture Llc | Henry Ford Health System | Kingswood Hospital | 221 |