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

HOSP

SPECTRUM HEALTH HOSPITALS

CCN 230038|LOC GRAND RAPIDS, MI|BEDS 1,103|NPR $2,573.8M|MARGIN 0.0%

C+

SeekingChartis Score

INVESTMENT THESIS

Buy: SPECTRUM HEALTH HOSPITALS

/ 100 (B)

+$189.5M

EBITDA Uplift

+736bps

Margin Δ

0.0%

Op Margin

$2.57B

Revenue

—

Realization

—

Peer Rank

SIGNAL STRENGTH

Margin

0.0%

Safety

56%

CATALYSTS

▲RCM uplift of $189.5M (+736bps)

▲Platform-sized facility

RISKS

▼Elevated distress risk (44%)

Buy — solid fundamentals with identifiable value creation levers. Proceed to detailed diligence.

Peer Analysis EBITDA Bridge Data Room IC Memo ML Detail

$2,573.8M

Net Patient Revenue

0.0%

Operating Margin

$1.2M

Net Income

1103

Licensed Beds

$2,333K

Revenue per Bed

$2,572.6M

Operating Expenses

Payer Mix

PYR

■ MEDICARE · 15%■ MEDICAID · 5%■ COMMERCIAL · 79%

Score Breakdown

SCComposite · 60/100

Component	Score	Max	%
Market Position	32	35	92%
Financial Health	8	25	32%
Operational Quality	0	20	0%
Competitive Moat	8	20	40%

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

MORE IN MIStart Diligence · creates a deal from HCRIS