Confluence Health
dba Confluence Health Hospital ·
Wenatchee, Chelan County, WA
· CCN 500016
Licensed to Central Washington Health Services Association
Already transacted. CMS recorded an ownership change effective
2023-07-01. Confirm the current owner before spending a call on this.
Composite
18.5
rank score
Distress
48
FY2023
Fit
78
vs thesis
Estimated ticket
$93.5M–$374M
187 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- margin slipping
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
- changed ownership 2023-07-01 — likely already transacted
Latest financials · FY2023
| Net patient revenue | $693M |
| Operating margin | -14.7% |
| Total margin | 5.0% |
| Days cash on hand | 18 |
| Current ratio | 1.84 |
| Occupancy | 66% |
Facility
| Beds | 187 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 176 | $471M | $32.9M | -4.0% | 6.3% | 125 | 2.29 | 69% | 9,642 | 20 |
| 2021 | 176 | $535M | $66.9M | 6.0% | 11.7% | 102 | 2.68 | 75% | 9,697 | 4 |
| 2022 | 176 | $551M | $-6.1M | -2.0% | -1.1% | 6 | 3.14 | 77% | 9,291 | 46 |
| 2023 | 187 | $693M | $40.7M | -14.7% | 5.0% | 18 | 1.84 | 66% | 9,277 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Confluence Health | 5% or greater direct ownership interest | 100 | 2013-07 | |
| Confluence Health | operational/managerial control | 100 | 2013-07 | |
| Abraham Sorom | corporate director | 2019-02 | ||
| Andrew Jones | corporate officer | 2022-08 | ||
| Andrew Jones | corporate director | 2023-07 | ||
| Andrew Jones | w-2 managing employee | 2022-08 | ||
| Brianna Keith | corporate director | 2024-03 | ||
| Brianna Keith | w-2 managing employee | 2024-03 | ||
| Christina Cox | corporate director | 2023-07 | ||
| Christina Cox | w-2 managing employee | 2023-07 | ||
| Corinne Bautista | corporate director | 2020-08 | ||
| Daniel Kerr | corporate director | 2023-08 | ||
| David Balcom | corporate director | 2023-07 | ||
| Douglas Shae | corporate director | 2017-05 | ||
| Ensi Voshtina | corporate director | 2025-02 | ||
| Eric Caldwell | corporate officer | 2024-12 | ||
| Eric Caldwell | corporate director | 2024-12 | ||
| Garn Christensen | corporate director | 2018-05 | ||
| Gus Heinicke | corporate director | 2017-05 | ||
| Jeffrey Neher | corporate officer | 2024-09 | ||
| Jennifer Jorgensen | corporate director | 2021-04 | ||
| Lauren Weber | corporate director | 2023-12 | ||
| Luther Thompson | corporate officer | 2024-04 | ||
| Robert Hamilton | corporate director | 2021-08 | ||
| Vanessa Gutierrez | corporate director | 2023-07 |
Showing 25 of 26. Full list via /api/targets/500016.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-07-01 | acquisition/merger | Central Washington Health... | Wenatchee Valley Hospital |
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 |