St. Joseph Medical Center
dba St Joseph Medical Center ·
Bellingham, Whatcom County, WA
· CCN 500030
Licensed to Peacehealth
Composite
27.8
rank score
Distress
0
FY2024
Fit
70
vs thesis
Estimated ticket
$20.8M–$41.6M
208 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $850M |
| Operating margin | 8.0% |
| Total margin | 9.0% |
| Days cash on hand | — |
| Current ratio | — |
| Occupancy | 91% |
Facility
| Beds | 208 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 214 | $658M | $38.1M | 4.7% | 5.7% | — | — | 82% | 14,878 | 0 |
| 2022 | 214 | $698M | $3.3M | -0.5% | 0.5% | — | — | 93% | 15,476 | 35 |
| 2023 | 208 | $750M | $23.5M | 1.9% | 3.1% | — | — | 93% | 15,133 | 12 |
| 2024 | 208 | $850M | $77.5M | 8.0% | 9.0% | — | — | 91% | 16,695 | 0 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Peacehealth | 5% or greater direct ownership interest | 100 | 2007-11 | |
| Peacehealth | operational/managerial control | 100 | 2007-11 | |
| Andrea Nenzel | corporate director | 2015-07 | ||
| Arthur Springer Ii | corporate officer | 2025-11 | ||
| Carolyn Aaron | corporate director | 2021-01 | ||
| Charlotte Davenport | corporate director | 2016-07 | ||
| Danny Hollingshead | corporate director | 2017-06 | ||
| Donna King | corporate director | 2019-07 | ||
| Ione Adams | corporate director | 2024-07 | ||
| Kathleen Pruitt | corporate director | 2015-07 | ||
| Kevin Murphy | corporate director | 2016-07 | ||
| Leonard Kearney | corporate director | 2011-01 | ||
| Linda Jackson | corporate director | 2023-07 | ||
| Linda Jackson | w-2 managing employee | 2023-07 | ||
| Lorraine Arvin | corporate director | 2024-07 | ||
| Mary Mcwilliams | corporate director | 2021-09 | ||
| Richard Magnuson | corporate officer | 2025-06 | ||
| Richard Wollenberg | corporate director | 2014-01 | ||
| Sarah Ness | corporate officer | 2026-01 | ||
| Sheila Lemieux | corporate director | 2024-09 | ||
| Thomas Karnes | corporate officer | 2023-01 | ||
| Timothy Ackman | corporate director | 2017-07 |
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 |