🛡️ Public data only — no PHI permitted on this instance.

HOSP

SPECTRUM HEALTH ZEELAND

CCN 230003|LOC ZEELAND, MI|BEDS 55|NPR $100.0M|MARGIN 17.9%

C-

SeekingChartis Score

INVESTMENT THESIS

Selective: SPECTRUM HEALTH ZEELAND

/ 100 (C)

+$7.4M

EBITDA Uplift

+736bps

Margin Δ

0.0%

Op Margin

$100.0M

Revenue

—

Realization

—

Peer Rank

SIGNAL STRENGTH

Margin

0.0%

Safety

51%

CATALYSTS

▲RCM uplift of $7.4M (+736bps)

RISKS

▼Elevated distress risk (49%)

▼Small facility — limited scale economies

Hold / Selective — investigate specific opportunities but be prepared for execution risk.

Peer Analysis EBITDA Bridge Data Room IC Memo ML Detail

$100.0M

Net Patient Revenue

17.9%

Operating Margin

$17.9M

Net Income

Licensed Beds

$1,818K

Revenue per Bed

$82.1M

Operating Expenses

Payer Mix

PYR

■ MEDICARE · 15%■ MEDICAID · 3%■ COMMERCIAL · 82%

Score Breakdown

SCComposite · 54/100

Component	Score	Max	%
Market Position	12	35	33%
Financial Health	25	25	100%
Operational Quality	0	20	0%
Competitive Moat	7	20	34%

Comparable Hospitals

CMP

CCN	Hospital	Beds	NPR
230002	TRINITY HEALTH - LIVONIA	239	$0M
230005	PROMEDICA HICKMAN HOSPITAL	58	$0M
230013	PONTIAC GENERAL HOSPITAL	47	$0M
230015	THREE RIVERS HEALTH	48	$0M
230017	BRONSON METHODIST HOSPITAL	439	$0M

Team Notes

NOTE0 entries

Actions

ACT

WFDiligence Workflow

Competitive Intel EBITDA Bridge Data Room IC Memo Scenarios

AIDeep Analysis

ML Analysis Demand 3-Year History Stats Bayesian

FINFinancial Models

DCF LBO 3-Statement Returns Market Denial

MORE IN MIStart Diligence · creates a deal from HCRIS