Kindred Hospital First Hill
dba Kindred Hospital Seattle-First Hill ·
Seattle, King County, WA
· CCN 502002
Licensed to Thc-Seattle Llc
Composite
60.5
rank score
Distress
62
FY2024
Fit
82
vs thesis
Estimated ticket
$20.4M–$81.6M
80 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin -8% to -3%
- under 30 days cash on hand
- debt above 85% of assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $41.2M |
| Operating margin | -3.3% |
| Total margin | -3.1% |
| Days cash on hand | 0 |
| Current ratio | 2.39 |
| Occupancy | 70% |
Facility
| Beds | 80 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 80 | $43.4M | $2.7M | 6.1% | 6.3% | 0 | 2.45 | 66% | 359 | 22 |
| 2022 | 80 | $39.4M | $-4.9M | -12.6% | -12.4% | 2 | 2.03 | 62% | 306 | 74 |
| 2023 | 80 | $41.7M | $-1.6M | -4.0% | -3.9% | 0 | 3.37 | 67% | 306 | 58 |
| 2024 | 80 | $41.2M | $-1.3M | -3.3% | -3.1% | 0 | 2.39 | 70% | 323 | 62 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kentucky Hospital Holdings Jv Lp | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Intermediate Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kindred Healthcare Llc | 5% or greater indirect ownership interest | 100 | 1998-03 | |
| Kindred Healthcare Operating Llc | 5% or greater direct ownership interest | 100 | 1998-02 | |
| Knight Health Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Knight Health Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Knight Intermediate Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Dana Rock | corporate officer | 2024-12 | ||
| Darla Beranek | corporate officer | 2026-02 | ||
| Deanna Schiavone | corporate officer | 2022-08 | ||
| Dwight Nall | operational/managerial control | 2026-02 | ||
| Johnetta Traylor | corporate officer | 2024-12 | ||
| Linn Billingsley | corporate officer | 2026-02 | ||
| Michael Bean | corporate officer | 2004-12 | ||
| Scott Graeser | corporate officer | 2022-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.