Phd#1 Dba Skagit Valley Hospital
dba Skagit Valley Hospital ·
Mount Vernon, Skagit County, WA
· CCN 500003
Licensed to Public Hospital Dist No 1 Skagit
Composite
61.8
rank score
Distress
64
FY2023
Fit
82
vs thesis
Estimated ticket
$58.2M–$233M
137 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 30-60 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $467M |
| Operating margin | -12.4% |
| Total margin | -7.1% |
| Days cash on hand | 30 |
| Current ratio | 1.32 |
| Occupancy | 85% |
Facility
| Beds | 137 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 137 | $339M | $-906K | -15.4% | -0.2% | 90 | 1.28 | 73% | 7,057 | 49 |
| 2021 | 137 | $395M | $14.8M | -11.6% | 3.5% | 53 | 2.45 | 77% | 7,007 | 44 |
| 2022 | 137 | $413M | $-40.2M | -18.0% | -9.0% | 37 | 1.70 | 85% | 6,946 | 61 |
| 2023 | 137 | $467M | $-35.5M | -12.4% | -7.1% | 30 | 1.32 | 85% | 7,625 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brian Ivie | w-2 managing employee | 2017-11 | ||
| Bruce Lisser | corporate director | 2012-03 | ||
| Jolanda Barnett | w-2 managing employee | 1986-07 | ||
| Peter Browning | corporate officer | 2017-01 | ||
| Public Hospital Dist No 1 Skagit | 5% or greater direct ownership interest | 2004-01 | ||
| Tamara Cesena | w-2 managing employee | 2023-01 |
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 WA
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 |
|---|---|---|---|---|
| 2023-07-01 | Central Washington Health Services... | Wenatchee Valley Hospital | Confluence Health | 187 |
| 2021-12-05 | Multicare Health System | Columbia Capital Medical Center Lp | Capital Medical Center | 107 |
| 2020-01-01 | University Of Washington | Uw Medicine Northwest | University Of Washington Med Ctr | 617 |
| 2018-08-04 | Rcch Trios Health Llc | Kennewick Public Hospital District | Trios Health | 111 |
| 2016-06-01 | Public Hospital Dist No 1 Skagit | Public Hospital District 3 Snohomish County | Cascade Valley Hospital | 48 |