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HOSP

SPECTRUM HEALTH UNITED MEMORIAL

CCN 230035|LOC GREENVILLE, MI|BEDS 45|NPR $129.4M|MARGIN 9.7%

SeekingChartis Score

INVESTMENT THESIS

Selective: SPECTRUM HEALTH UNITED MEMORIAL

/ 100 (C)

+$9.5M

EBITDA Uplift

+736bps

Margin Δ

0.0%

Op Margin

$129.4M

Revenue

—

Realization

—

Peer Rank

SIGNAL STRENGTH

Margin

0.0%

Safety

55%

CATALYSTS

▲RCM uplift of $9.5M (+736bps)

RISKS

▼Elevated distress risk (45%)

▼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

$129.4M

Net Patient Revenue

9.7%

Operating Margin

$12.5M

Net Income

Licensed Beds

$2,875K

Revenue per Bed

$116.9M

Operating Expenses

Payer Mix

PYR

■ MEDICARE · 25%■ MEDICAID · 3%■ COMMERCIAL · 72%

Score Breakdown

SCComposite · 44/100

Component	Score	Max	%
Market Position	12	35	34%
Financial Health	19	25	76%
Operational Quality	0	20	0%
Competitive Moat	4	20	22%

Comparable Hospitals

CMP

CCN	Hospital	Beds	NPR
230002	TRINITY HEALTH - LIVONIA	239	$0M
230003	SPECTRUM HEALTH ZEELAND	55	$0M
230005	PROMEDICA HICKMAN HOSPITAL	58	$0M
230013	PONTIAC GENERAL HOSPITAL	47	$0M
230015	THREE RIVERS HEALTH	48	$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

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