Amend#3 Lip Research Med Ctr
dba Research Medical Center ·
Kansas City, MO
· CCN 260027
Licensed to Midwest Division - Rmc Llc
Composite
65.4
rank score
Distress
71
FY2023
Fit
79
vs thesis
Estimated ticket
$107M–$428M
306 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- liabilities exceed assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $587M |
| Operating margin | -5.1% |
| Total margin | -3.0% |
| Days cash on hand | 1 |
| Current ratio | 3.53 |
| Occupancy | 73% |
Facility
| Beds | 306 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 368 | $450M | $15.5M | -0.2% | 3.3% | 0 | 2.11 | 70% | 15,450 | 49 |
| 2021 | 343 | $489M | $17.6M | 0.6% | 3.5% | 0 | 2.61 | 69% | 14,923 | 40 |
| 2022 | 337 | $487M | $-12.4M | -5.2% | -2.5% | 1 | 3.09 | 68% | 14,238 | 63 |
| 2023 | 306 | $587M | $-18.0M | -5.1% | -3.0% | 1 | 3.53 | 73% | 14,340 | 71 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hca Health Services Of Louisiana, Inc. | 5% or greater direct ownership interest | 100 | 2003-03 | |
| Hca Healthcare Inc | 5% or greater indirect ownership interest | 100 | 2011-10 | |
| Hca Inc | 5% or greater indirect ownership interest | 100 | 2003-03 | chain |
| Healthserv Acquisition Llc | 5% or greater indirect ownership interest | 100 | 2003-03 | |
| Healthtrust Inc - The Hospital Company | 5% or greater indirect ownership interest | 100 | 2003-03 | |
| Frisco Holding Ii | 5% or greater indirect ownership interest | 16 | 2026-02 | |
| Hercules Holding Ii | 5% or greater indirect ownership interest | 14 | 2016-09 | |
| Eric Smith | contracted managing employee | 2021-03 | ||
| Kirk Mccarty | corporate officer | 2024-09 | ||
| Kirk Mccarty | w-2 managing employee | 2024-09 | ||
| Kirk Mccarty | operational/managerial control | 2024-09 | ||
| Samuel Maxfield | corporate officer | 2024-10 | ||
| Samuel Maxfield | w-2 managing employee | 2024-10 | ||
| Samuel Maxfield | operational/managerial control | 2024-10 |
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 MO
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 |
|---|---|---|---|---|
| 2024-07-01 | New Liberty Hospital Corporation | New Liberty Hospital District | Liberty Hospital | 199 |
| 2024-01-01 | Curators Of The University Of Missouri | Capital Region Medical Center | Univ Of Missouri Health Care | 665 |
| 2024-01-01 | Curators Of The University Of Missouri | Capital Region Medical Center | Univ Of Missouri Health Care | 665 |