Lincoln Surgical Hospital
Lincoln, Lancaster County, NE
· CCN 280127
Licensed to Lincoln Surgery Center Llc
Composite
33.4
rank score
Distress
28
FY2023
Fit
52
vs thesis
Estimated ticket
$10.0M–$40.0M
20 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- occupancy below 30%
- urban — higher occupancy and iteration surface
- very small facility
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $80.6M |
| Operating margin | 17.1% |
| Total margin | 17.4% |
| Days cash on hand | 29 |
| Current ratio | 3.60 |
| Occupancy | 4% |
Facility
| Beds | 20 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 20 | $70.7M | $12.2M | 15.8% | 17.0% | 132 | 1.75 | 11% | 523 | 13 |
| 2021 | 20 | $79.6M | $19.3M | 19.6% | 23.2% | 82 | 2.24 | 9% | 215 | 19 |
| 2022 | 20 | $80.9M | $16.7M | 18.8% | 20.3% | 41 | 3.56 | 5% | 195 | 26 |
| 2023 | 20 | $80.6M | $14.1M | 17.1% | 17.4% | 29 | 3.60 | 4% | 152 | 28 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Physicians Surgical Services Llc | 5% or greater direct ownership interest | 100 | 2017-08 | |
| Noc Ancillary Holdings Llc | 5% or greater indirect ownership interest | 57 | 2026-04 | |
| 70th Street Properties Inc | 5% or greater indirect ownership interest | 29 | 2026-04 | |
| Lincoln Orthopaedic Center Holdco Inc | 5% or greater indirect ownership interest | 15 | 2026-04 | |
| Gregory Sutton | 5% or greater indirect ownership interest | 9 | 2026-04 | |
| Margaret Sutton | 5% or greater indirect ownership interest | 9 | 2026-04 | |
| Vincent Sutton | 5% or greater indirect ownership interest | 8 | 2026-04 | |
| Chios Trust | 5% or greater indirect ownership interest | 6 | 2025-01 | |
| Parkston Trust | 5% or greater indirect ownership interest | 6 | 2025-01 | |
| 70th Street Properties Inc | operational/managerial control | 2003-04 | ||
| Charon Shared Services Llc | operational/managerial control | 2017-01 | ||
| Gregory Sutton | corporate director | 2003-04 | ||
| James Fosnaugh | contracted managing employee | 2024-10 | ||
| Jane Haire | contracted managing employee | 2021-11 | ||
| Jane Haire | operational/managerial control | 2021-11 | ||
| Larry Wood | corporate director | 2003-04 | ||
| Lori Applegate | contracted managing employee | 2003-04 | ||
| Lori Applegate | operational/managerial control | 2003-04 | ||
| Margaret Sutton | corporate director | 2003-04 | ||
| Max Linder | corporate director | 2003-04 | ||
| Michele Spadt | contracted managing employee | 2008-11 | ||
| Michele Spadt | operational/managerial control | 2008-11 | ||
| Michelle Monhollon | contracted managing employee | 2004-05 | ||
| Michelle Monhollon | corporate officer | 2022-01 | ||
| Michelle Monhollon | operational/managerial control | 2004-05 |
Showing 25 of 32. Full list via /api/targets/280127.
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 NE
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 |
|---|---|---|---|---|
| 2022-01-01 | Bryan Hospital Kearney | Kearney Regional Medical Center Llc | Kearney Regional Medical Center | 93 |
| 2018-10-01 | Methodist Fremont Health | Fremont Health | Methodist Fremont Health | 50 |