Surgical Institute Of Reading
dba Reading Surgery Center Of The Surgical Institute Of Reading Llc ·
Wyomissing, Berks County, PA
· CCN 390316
Licensed to Surgical Institute Of Reading Llc
Composite
35.7
rank score
Distress
29
FY2023
Fit
56
vs thesis
Estimated ticket
$7.5M–$30.0M
15 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 30-60 days cash on hand
- occupancy below 30%
- margin deteriorating
- 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 | $60.1M |
| Operating margin | 27.8% |
| Total margin | 28.0% |
| Days cash on hand | 48 |
| Current ratio | 2.00 |
| Occupancy | 13% |
Facility
| Beds | 15 |
| 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 | 15 | $48.5M | $16.4M | 31.5% | 32.7% | 98 | 2.53 | 17% | 609 | 13 |
| 2021 | 15 | $55.5M | $19.0M | 32.3% | 33.3% | 67 | 1.59 | 14% | 470 | 19 |
| 2022 | 15 | $58.5M | $16.9M | 28.1% | 28.7% | 45 | 2.10 | 12% | 330 | 26 |
| 2023 | 15 | $60.1M | $16.9M | 27.8% | 28.0% | 48 | 2.00 | 13% | 364 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Berkshire Surgical Specialists, Llc | 5% or greater direct ownership interest | 16 | 2024-07 | |
| Carol Wolfenbarger | w-2 managing employee | 2025-03 | ||
| Hcn Surgery Center Holdings Inc | 5% or greater indirect ownership interest | 2015-06 | ||
| Jonathan Bailey | corporate officer | 2023-01 | ||
| Jonathan Bailey | corporate director | 2023-01 | ||
| Lorri Wildi | corporate officer | 2020-01 | ||
| Lorri Wildi | corporate director | 2020-01 | ||
| Lorri Wildi | w-2 managing employee | 2020-01 | ||
| Lorri Wildi | operational/managerial control | 2020-01 | ||
| Michelle Burris | corporate officer | 2023-07 | ||
| Michelle Burris | corporate director | 2023-07 | ||
| Michelle Burris | w-2 managing employee | 2023-07 | ||
| Michelle Burris | operational/managerial control | 2023-07 | ||
| Tenet Healthcare Corporation | 5% or greater indirect ownership interest | 2015-06 | ||
| United Surgical Partners Holdings Inc | 5% or greater indirect ownership interest | 2015-05 | ||
| United Surgical Partners International Inc | 5% or greater indirect ownership interest | 2015-05 | ||
| Usp Domestic Holdings Inc | 5% or greater indirect ownership interest | 2015-05 | ||
| Usp Reading Inc | 5% or greater direct ownership interest | 2015-05 | ||
| Usp Reading Inc | operational/managerial control | 2015-05 | ||
| Uspi Group Holdings Inc | 5% or greater indirect ownership interest | 2015-05 | ||
| Uspi Holding Company Inc | 5% or greater indirect ownership interest | 2015-06 | ||
| Uspi Holdings Inc | 5% or greater indirect ownership interest | 2015-05 |
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 |