Millcreek Community Hospital
Erie, PA
· CCN 390198
Licensed to Millcreek Community Hospital
Composite
55.0
rank score
Distress
56
FY2024
Fit
74
vs thesis
Estimated ticket
$52.7M–$211M
124 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 30-60 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $68.2M |
| Operating margin | -23.9% |
| Total margin | -4.9% |
| Days cash on hand | 43 |
| Current ratio | 1.83 |
| Occupancy | 43% |
Facility
| Beds | 124 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 130 | $46.1M | $-8.7M | -54.0% | -14.0% | 158 | 1.78 | 41% | 3,184 | 50 |
| 2022 | 124 | $51.0M | $-20.1M | -55.0% | -34.2% | 82 | 2.20 | 45% | 3,057 | 57 |
| 2023 | 124 | $62.2M | $-5.7M | -28.1% | -7.7% | 44 | 1.87 | 43% | 2,674 | 62 |
| 2024 | 124 | $68.2M | $-3.9M | -23.9% | -4.9% | 43 | 1.83 | 43% | 2,552 | 56 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dale Sparber | corporate director | 1966-07 | ||
| Danielle Hansen | corporate director | 2021-01 | ||
| David Rubino | corporate director | 2017-08 | ||
| James Lin | corporate director | 2025-01 | ||
| John Ferretti | corporate director | 2017-08 | ||
| Marcus Babiak | w-2 managing employee | 2025-01 | ||
| Mary Eckert | corporate director | 1966-07 | ||
| Nancy Oneill | corporate director | 1966-07 | ||
| Robert George | corporate director | 2020-05 | ||
| Seth Carter | corporate director | 2025-01 | ||
| Silvia Ferretti | corporate director | 1966-07 | ||
| Steven Inman | corporate director | 2018-12 | ||
| William Mccarthy | corporate director | 1966-07 |
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 PA
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 |
|---|---|---|---|---|
| 2025-01-21 | Tenor Health Foundation Sharon, Llc | Steward Sharon Regional Health System, Inc. | Sharon Regional Health System | 141 |
| 2023-09-02 | Chh Community Health | Chestnut Hill Hospital Llc | Chestnut Hill Hospital | 128 |
| 2023-07-01 | Valley Medical Facilities Inc | Valley Medical Facilities Inc | Heritage Valley Sewickley | 220 |
| 2022-05-09 | Lehigh Valley Hospital | Lehigh Valley Hospital -... | Lehigh Valley | 1,216 |
| 2021-07-01 | Dubois Regional Medical Center | Clearfield Hospital | Dubois Regional Medical Center | 261 |
| 2021-06-14 | Avenues Recovery Medical Center At... | Valley Forge Medical Center &... | Valley Forge Medical Center | 70 |
| 2021-01-01 | Robert Packer Hospital | Guthrie Towanda Memorial Hospital | Robert Packer Hospital | 252 |
| 2020-07-01 | St. Luke's Hospital- Easton Campus | Steward Easton Hospital, Inc | St Lukes Hospital - Easton Campus | 29 |
| 2018-05-26 | Lehigh Valley Hospital - Schuylkill | Schuylkill Medical Center - East... | Lehigh Valley Hospital - Schuylkill | 118 |
| 2017-07-01 | Upmc Carlisle | Carlisle Hma Llc | Upmc Carlisle | 66 |