Trios Health
Kennewick, Benton County, WA
· CCN 500053
Licensed to Rcch Trios Health Llc
Composite
74.7
rank score
Distress
90
FY2023
Fit
86
vs thesis
Estimated ticket
$38.9M–$155M
111 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $150M |
| Operating margin | -13.3% |
| Total margin | -11.1% |
| Days cash on hand | 0 |
| Current ratio | 0.68 |
| Occupancy | 51% |
Facility
| Beds | 111 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 111 | $149M | $-10.1M | -14.8% | -6.3% | — | 1.17 | 53% | 4,905 | 73 |
| 2021 | 111 | $167M | $-2.9M | -6.5% | -1.6% | 0 | 0.69 | 55% | 4,613 | 72 |
| 2022 | 111 | $155M | $-12.8M | -10.4% | -8.1% | 0 | 0.70 | 55% | 4,289 | 90 |
| 2023 | 111 | $150M | $-17.0M | -13.3% | -11.1% | 0 | 0.68 | 51% | 4,953 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Rcch ¿ Uw Medicine Healthcare Holdings Llc | 5% or greater direct ownership interest | 100 | 2018-08 | |
| Capella Health Holdings Llc | 5% or greater indirect ownership interest | 96 | 2018-08 | |
| Capella Healthcare Llc | 5% or greater indirect ownership interest | 96 | 2018-08 | |
| Capella Holdings Llc | 5% or greater indirect ownership interest | 96 | 2018-08 | |
| Dsb Acquisition Llc | 5% or greater indirect ownership interest | 96 | 2018-08 | |
| Lifepoint Health Inc | 5% or greater indirect ownership interest | 96 | 2018-11 | |
| Lima Holdco Llc | 5% or greater indirect ownership interest | 96 | 2021-12 | |
| Rcch Northwest Llc | 5% or greater indirect ownership interest | 96 | 2018-08 | |
| Charlotte Lawrence | corporate officer | 2022-01 | ||
| Christopher Monte | corporate officer | 2018-11 | ||
| David Elgarico | operational/managerial control | 2023-05 | ||
| Elliott Brown | corporate officer | 2026-04 | ||
| Marcus Poppell | corporate officer | 2018-11 | ||
| Samuel Barrett | corporate officer | 2024-06 | ||
| William Ziesmer | corporate officer | 2024-06 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-08-04 | change of ownership | Rcch Trios Health Llc | Kennewick Public Hospital District |
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 |