Lancaster Medical Center
Lancaster, PA
· CCN 390339
Licensed to Penn State Health Lancaster Medical Center
Composite
67.3
rank score
Distress
72
FY2024
Fit
82
vs thesis
Estimated ticket
$35.0M–$140M
100 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $161M |
| Operating margin | -27.5% |
| Total margin | -25.7% |
| Days cash on hand | 0 |
| Current ratio | -26.54 |
| Occupancy | 61% |
Facility
| Beds | 100 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 100 | $64.4M | $-40.6M | -64.0% | -62.5% | 0 | -33.09 | 46% | 2,100 | 82 |
| 2024 | 100 | $161M | $-42.0M | -27.5% | -25.7% | 0 | -26.54 | 61% | 5,356 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Penn State Health | 5% or greater direct ownership interest | 100 | 2020-06 | chain |
| The Pennsylvania State University | 5% or greater indirect ownership interest | 80 | 2020-06 | |
| Highmark Health | 5% or greater indirect ownership interest | 20 | 2020-06 | |
| Allison Barrett | corporate director | 2024-07 | ||
| Angela Sonon | operational/managerial control | 2024-10 | ||
| Ann Allwein | corporate officer | 2024-10 | ||
| Ben Lazarus | corporate director | 2023-07 | ||
| Daron Kahn | corporate director | 2024-07 | ||
| Elizabeth Martin | corporate director | 2024-07 | ||
| Joseph Frank | corporate director | 2021-07 | ||
| Judy Hlafcsak | corporate director | 2021-07 | ||
| Kenneth Wood | corporate director | 2023-06 | ||
| Lloyd Clark | corporate director | 2023-07 | ||
| Nicole Lehman | corporate officer | 2021-07 | ||
| Randy Morris | corporate officer | 2024-07 | ||
| Randy Morris | corporate director | 2024-07 | ||
| Ross Darrow | corporate officer | 2021-07 | ||
| Tracy Moyer-Swinko | corporate director | 2024-08 | ||
| Zachary Bullock | corporate director | 2025-02 |
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 |