Holy Cross Hospital - Davis
Layton, Davis County, UT
· CCN 460041
Licensed to Catholic Health Initiatives Colorado
Already transacted. CMS recorded an ownership change effective
2023-05-01. Confirm the current owner before spending a call on this.
Composite
17.7
rank score
Distress
42
FY2024
Fit
79
vs thesis
Estimated ticket
$55.0M–$220M
110 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- debt above 85% of assets
- occupancy 30-45%
- margin deteriorating sharply
- 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
- changed ownership 2023-05-01 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $222M |
| Operating margin | 10.9% |
| Total margin | 11.0% |
| Days cash on hand | 0 |
| Current ratio | 1.60 |
| Occupancy | 42% |
Facility
| Beds | 110 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 175 | $202M | $93.0M | 43.1% | 44.8% | 7 | 9.42 | 30% | 5,212 | 28 |
| 2022 | 175 | $224M | $99.5M | 42.5% | 43.6% | 0 | 1.59 | 32% | 5,475 | 28 |
| 2023 | 175 | $235M | $68.9M | 29.1% | 29.3% | 0 | 2.03 | 28% | 4,546 | 31 |
| 2024 | 110 | $222M | $24.6M | 10.9% | 11.0% | 0 | 1.60 | 42% | 4,246 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Commonspirit Health | 5% or greater direct ownership interest | 100 | 2023-05 | |
| Andrew Gaasch | corporate officer | 2024-05 | ||
| Andrew Gaasch | corporate director | 2025-07 | ||
| Barbara Riddle | corporate director | 2025-10 | ||
| Brad Mortensen | corporate director | 2025-10 | ||
| Christine Anderegg | corporate director | 2025-10 | ||
| Christopher Hutchison | corporate director | 2025-10 | ||
| Commonspirit Mountain Region | operational/managerial control | 2023-05 | ||
| Jason Hoagland | corporate director | 2025-10 | ||
| Jeremy Bradshaw | corporate director | 2025-10 | ||
| Katherine Brooks | corporate officer | 2025-07 | ||
| Kay Christofferson | corporate director | 2025-10 | ||
| Kirk Cullimore | corporate director | 2025-10 | ||
| Kyle Brostrom | w-2 managing employee | 2024-07 | ||
| Matthew Hinderaker | corporate director | 2025-10 | ||
| Megan Engelen | corporate director | 2025-10 | ||
| Mitch Melfi | corporate director | 2025-07 | ||
| Sheri Shapiro | corporate director | 2025-07 | ||
| Steven Meek | corporate director | 2025-10 | ||
| Tadd Richert | corporate officer | 2025-07 | ||
| Tadd Richert | operational/managerial control | 2024-05 | ||
| Tom Tosti | corporate director | 2025-10 | ||
| Tricia Rakusir | corporate director | 2025-10 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-05-01 | change of ownership | Catholic Health Initiatives Colorado | Davis Hospital & Medical Center Lp |
Who has been buying in UT
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 |
|---|---|---|---|---|
| 2023-05-01 | Catholic Health Initiatives Colorado | Salt Lake Regional Medical Center Lp | Holy Cross Hospital - Salt Lake | 92 |
| 2023-05-01 | Catholic Health Initiatives Colorado | Jordan Valley Medical Center Lp | Holy Cross Hospital - Jordan Valley | 159 |
| 2023-05-01 | Catholic Health Initiatives Colorado | Davis Hospital & Medical Center Lp | Holy Cross Hospital - Davis | 110 |