Midwest Surgical Hospital
dba Midwest Surgical Hospital Llc ·
Omaha, Douglas County, NE
· CCN 280131
Licensed to Midwest Surgical Hospital Llc
Composite
30.8
rank score
Distress
18
FY2023
Fit
52
vs thesis
Estimated ticket
$9.5M–$38.0M
19 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy below 30%
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- 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 | $71.7M |
| Operating margin | 33.3% |
| Total margin | 34.0% |
| Days cash on hand | 95 |
| Current ratio | 4.63 |
| Occupancy | 10% |
Facility
| Beds | 19 |
| 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 | 19 | $54.7M | $21.6M | 37.8% | 38.5% | 123 | 1.43 | 29% | 1,191 | 17 |
| 2021 | 19 | $66.9M | $29.2M | 37.2% | 40.6% | 23 | 1.71 | 22% | 838 | 31 |
| 2022 | 19 | $70.1M | $24.8M | 36.2% | 35.3% | 82 | 5.93 | 16% | 787 | 19 |
| 2023 | 19 | $71.7M | $24.7M | 33.3% | 34.0% | 95 | 4.63 | 10% | 295 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Sp Holdco I Inc | 5% or greater indirect ownership interest | 51 | 2021-12 | |
| Surgery Center Holdings Inc | 5% or greater direct ownership interest | 51 | 2021-12 | chain |
| Surgery Center Holdings Llc | 5% or greater indirect ownership interest | 51 | 2021-12 | |
| Surgery Partners Inc | 5% or greater indirect ownership interest | 51 | 2021-12 | |
| Surgery Center Holdings Inc | other | 50 | 2022-01 | chain |
| Gikk Investments Llc | 5% or greater direct ownership interest | 18 | 2006-10 | |
| Mwns Surgical Llc | 5% or greater direct ownership interest | 17 | 2006-10 | |
| Bcpe Seminole Holdings Ii Intermediate Lp | 5% or greater indirect ownership interest | 12 | 2023-03 | |
| Nebraska Methodist Hospital | 5% or greater direct ownership interest | 6 | 2006-10 | |
| Physicians Treasury Llc | 5% or greater direct ownership interest | 4 | 2024-01 | |
| Harrison Bane | other | 2024-09 | ||
| Jennifer Baldock | corporate officer | 2021-12 | ||
| Sp Management Services Inc | operational/managerial control | 2021-12 | ||
| Stephen Doran | w-2 managing employee | 2023-12 |
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 |