Highline Medical Center
dba St Anne Hospital ·
Seattle, King County, WA
· CCN 500011
Licensed to Highline Medical Center
Composite
58.5
rank score
Distress
54
FY2024
Fit
86
vs thesis
Estimated ticket
$56.1M–$224M
132 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating
- 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 | $201M |
| Operating margin | -15.2% |
| Total margin | 6.5% |
| Days cash on hand | 0 |
| Current ratio | 1.12 |
| Occupancy | 62% |
Facility
| Beds | 132 |
| 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 | 115 | $199M | $20.5M | -4.7% | 9.0% | 46 | 1.17 | 75% | 5,948 | 36 |
| 2022 | 110 | $178M | $-38.8M | -25.7% | -21.1% | 16 | 1.02 | 83% | 6,829 | 70 |
| 2023 | 132 | $169M | $-36.6M | -28.6% | -20.3% | 0 | 0.52 | 61% | 6,584 | 84 |
| 2024 | 132 | $201M | $16.0M | -15.2% | 6.5% | 0 | 1.12 | 62% | 7,425 | 54 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Commonspirit Health | 5% or greater indirect ownership interest | 100 | 2013-04 | |
| Commonspirit Washington | 5% or greater direct ownership interest | 100 | 2013-04 | |
| Uli Chi | corporate director | 6 | 1988-02 | |
| Carolyn Corvi | corporate director | 2021-01 | ||
| Charles Arnold | corporate director | 2023-09 | ||
| David Butcherite | w-2 managing employee | 2024-03 | ||
| David Nosacka | corporate officer | 2021-07 | ||
| David Nosacka | w-2 managing employee | 2021-07 | ||
| Dennis Hunthausen | corporate director | 2013-04 | ||
| Diann Puls | corporate director | 2013-04 | ||
| Gregg Meyer | corporate director | 2021-01 | ||
| John Oppenheimer | corporate director | 2021-01 | ||
| Karen Lee | corporate director | 2021-01 | ||
| Ketul Patel | corporate officer | 2015-02 | ||
| Ketul Patel | w-2 managing employee | 2015-02 | ||
| Ketul Patel | other | 2015-02 | ||
| Robert Carlile | corporate director | 2022-01 | ||
| Robert Lemon | corporate director | 2021-01 | ||
| Ruth Goodwin | corporate director | 2020-07 | ||
| Tod Hamachek | corporate director | 2021-01 |
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 |