{
  "schemaVersion": 3,
  "entityId": "140048",
  "canonicalName": "ADVOCATE TRINITY HOSPITAL",
  "status": "signal",
  "statusLabel": "Documented investment signal",
  "summary": "ADVOCATE TRINITY HOSPITAL appears in the source tracker as a venture-backed investment signal. This dossier does not classify that signal as completed private-equity ownership.",
  "lastReviewed": "2026-06-22",
  "review": {
    "reviewer": "Automated CMS/PESP reconciliation with editorial publication gate",
    "evidence_grade": "government-corroborated",
    "confidence": "medium",
    "source_count": 6,
    "ownership_source_count": 2,
    "identity_match_method": "CCN exact match",
    "publication_decision": "Meets the Phase 3 publication standard for its displayed status"
  },
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    "npi": "1558479212",
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        "alias_type": "cms_legal_name",
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      {
        "alias": "ADVOCATE SOUTHLAND HEALTH NETWORK",
        "alias_type": "cms_dba",
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      "from_entity_id": "Advocatehealth",
      "to_entity_id": "140048",
      "relationship_type": "venture_backing",
      "effective_date": "",
      "end_date": "",
      "announcement_date": "",
      "status": "signal",
      "confidence": "medium",
      "source_ids": "source-cms-hospital-all-owners|source-pesp-hospital-tracker",
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      "role": "W-2 MANAGING EMPLOYEE",
      "association_date": "10/19/2025",
      "percentage_ownership": "0",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "DESIREE MILLET",
      "role": "W-2 MANAGING EMPLOYEE",
      "association_date": "10/01/2024",
      "percentage_ownership": "",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "NATHANIEL EDMOND",
      "role": "CORPORATE OFFICER",
      "association_date": "01/01/2025",
      "percentage_ownership": "0",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "NATHANIEL EDMOND",
      "role": "CORPORATE DIRECTOR",
      "association_date": "06/01/2013",
      "percentage_ownership": "",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "HAROLD SLINKMAN",
      "role": "CORPORATE OFFICER",
      "association_date": "06/14/2023",
      "percentage_ownership": "0",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "ADVOCATE HEALTH INC",
      "role": "OPERATIONAL/MANAGERIAL CONTROL",
      "association_date": "12/02/2022",
      "percentage_ownership": "",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "MARK HARRIS",
      "role": "CORPORATE DIRECTOR",
      "association_date": "10/12/2005",
      "percentage_ownership": "",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "ADVOCATE AURORA HEALTH, INC.",
      "role": "5% OR GREATER INDIRECT OWNERSHIP INTEREST",
      "association_date": "04/01/2018",
      "percentage_ownership": "100",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": true,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "ADVOCATE AURORA HEALTH, INC.",
      "role": "OPERATIONAL/MANAGERIAL CONTROL",
      "association_date": "04/01/2018",
      "percentage_ownership": "100",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": true,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "SUZANNA FOX",
      "role": "CORPORATE OFFICER",
      "association_date": "11/07/2025",
      "percentage_ownership": "0",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    },
    {
      "organization": "KATHIE BENDER SCHWICH",
      "role": "CORPORATE DIRECTOR",
      "association_date": "06/11/2023",
      "percentage_ownership": "",
      "investment_firm": false,
      "private_equity_company": false,
      "holding_company": false,
      "management_services_company": false,
      "medical_staffing_company": false
    }
  ],
  "directConnections": [
    "Reported parent system or portfolio company: Advocatehealth."
  ],
  "actions": [],
  "contradictions": [],
  "limitations": [
    "The investment signal does not establish completed private-equity ownership or a pending sale."
  ],
  "unavailableFields": [
    "Precise acquisition date"
  ],
  "sources": [
    {
      "source_id": "source-hifld-hospitals",
      "title": "Hospitals RAPT",
      "publisher": "Homeland Infrastructure Foundation-Level Data",
      "publication_date": "current public layer",
      "retrieved_at": "2026-06-22",
      "url": "https://hifld-geoplatform.hub.arcgis.com/datasets/geoplatform::hospitals/about",
      "reliability_tier": "government",
      "research_note": "Used for facility location and basic identity context; it does not establish private-equity ownership.",
      "source_type": "public_record"
    },
    {
      "source_id": "source-pesp-hospital-tracker",
      "title": "Private Equity Hospital Tracker",
      "publisher": "Private Equity Stakeholder Project",
      "publication_date": "2026-04-03 snapshot",
      "retrieved_at": "2026-06-22",
      "url": "https://pestakeholder.org/private-equity-hospital-tracker/",
      "reliability_tier": "research",
      "research_note": "Discovery and ownership-chain baseline. A red public status also requires independent corroboration in this dossier.",
      "source_type": "public_record"
    },
    {
      "source_id": "source-cms-hospital-enrollments",
      "title": "Hospital Enrollments",
      "publisher": "Centers for Medicare & Medicaid Services",
      "publication_date": "2026-05-01",
      "retrieved_at": "2026-06-22",
      "url": "https://data.cms.gov/provider-characteristics/hospitals-and-other-facilities/hospital-enrollments",
      "reliability_tier": "government",
      "research_note": "Used to corroborate current enrollment identity, legal name, DBA, CCN, NPI, and location.",
      "source_type": "public_record"
    },
    {
      "source_id": "source-cms-hospital-all-owners",
      "title": "Hospital All Owners",
      "publisher": "Centers for Medicare & Medicaid Services",
      "publication_date": "2026-05-01",
      "retrieved_at": "2026-06-22",
      "url": "https://data.cms.gov/provider-characteristics/hospitals-and-other-facilities/hospital-all-owners",
      "reliability_tier": "government",
      "research_note": "Used to corroborate direct or indirect ownership, control, holding-company, investment-firm, and security-interest records.",
      "source_type": "public_record"
    },
    {
      "source_id": "source-cms-hcris",
      "title": "Hospital Provider Cost Reports",
      "publisher": "Centers for Medicare & Medicaid Services",
      "publication_date": "2015–2024",
      "retrieved_at": "2026-06-22",
      "url": "https://data.cms.gov/provider-compliance/cost-reports/hospital-provider-cost-report",
      "reliability_tier": "government",
      "research_note": "Financial, staffing, and utilization values. These descriptive measures do not establish causation.",
      "source_type": "public_record"
    },
    {
      "source_id": "source-cms-care-compare",
      "title": "Hospital General Information",
      "publisher": "Centers for Medicare & Medicaid Services",
      "publication_date": "2026",
      "retrieved_at": "2026-06-22",
      "url": "https://data.cms.gov/provider-data/dataset/xubh-q36u",
      "reliability_tier": "government",
      "research_note": "Used for current facility identity, hospital type, ownership category, and overall rating when available.",
      "source_type": "public_record"
    }
  ],
  "ownershipChain": {
    "model": "Sponsor, operator, CMS legal-owner/control records, and facility are shown as separate evidence layers.",
    "confidence": "medium",
    "nodes": [
      {
        "id": "facility:140048",
        "label": "ADVOCATE TRINITY HOSPITAL",
        "kind": "hospital",
        "evidence": "public facility record"
      },
      {
        "id": "organization:advocate-aurora-health-inc",
        "label": "ADVOCATE AURORA HEALTH, INC.",
        "kind": "portfolio_company_or_operator",
        "evidence": "research tracker or primary organizational source"
      },
      {
        "id": "cms-owner:dia-nichols:0",
        "label": "DIA NICHOLS",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:dia-nichols:1",
        "label": "DIA NICHOLS",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE DIRECTOR"
      },
      {
        "id": "cms-owner:jon-kluge:2",
        "label": "JON KLUGE",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:advocate-health-care-network:3",
        "label": "ADVOCATE HEALTH CARE NETWORK",
        "kind": "cms_owner_or_controller",
        "evidence": "5% OR GREATER DIRECT OWNERSHIP INTEREST"
      },
      {
        "id": "cms-owner:gail-hasbrouck:4",
        "label": "GAIL HASBROUCK",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE DIRECTOR"
      },
      {
        "id": "cms-owner:clarence-nixon:5",
        "label": "CLARENCE NIXON",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:clarence-nixon:6",
        "label": "CLARENCE NIXON",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE DIRECTOR"
      },
      {
        "id": "cms-owner:tori-munnik:7",
        "label": "TORI MUNNIK",
        "kind": "cms_owner_or_controller",
        "evidence": "W-2 MANAGING EMPLOYEE"
      },
      {
        "id": "cms-owner:rachelle-hart:8",
        "label": "RACHELLE HART",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:kara-richardson:9",
        "label": "KARA RICHARDSON",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:david-anderson:10",
        "label": "DAVID ANDERSON",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE DIRECTOR"
      },
      {
        "id": "cms-owner:michelle-blakely:11",
        "label": "MICHELLE BLAKELY",
        "kind": "cms_owner_or_controller",
        "evidence": "W-2 MANAGING EMPLOYEE"
      },
      {
        "id": "cms-owner:lindsay-durgin:12",
        "label": "LINDSAY DURGIN",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:rachel-halverson:13",
        "label": "RACHEL HALVERSON",
        "kind": "cms_owner_or_controller",
        "evidence": "CORPORATE OFFICER"
      },
      {
        "id": "cms-owner:jequeatta-smith:14",
        "label": "JEQUEATTA SMITH",
        "kind": "cms_owner_or_controller",
        "evidence": "W-2 MANAGING EMPLOYEE"
      },
      {
        "id": "cms-owner:desiree-millet:15",
        "label": "DESIREE MILLET",
        "kind": "cms_owner_or_controller",
        "evidence": "W-2 MANAGING EMPLOYEE"
      }
    ],
    "edges": [
      {
        "id": "organization:advocate-aurora-health-inc->facility:140048",
        "from": "organization:advocate-aurora-health-inc",
        "to": "facility:140048",
        "relationship": "reported ownership or operating chain",
        "confidence": "medium",
        "sourceIds": [
          "source-cms-hospital-all-owners",
          "source-pesp-hospital-tracker"
        ],
        "note": "The platform attribution comes from the research tracker and is displayed separately from CMS legal-owner rows."
      },
      {
        "id": "cms-owner:dia-nichols:0->facility:140048",
        "from": "cms-owner:dia-nichols:0",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · associated 10/01/2024"
      },
      {
        "id": "cms-owner:dia-nichols:1->facility:140048",
        "from": "cms-owner:dia-nichols:1",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE DIRECTOR · associated 10/01/2024"
      },
      {
        "id": "cms-owner:jon-kluge:2->facility:140048",
        "from": "cms-owner:jon-kluge:2",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · 0% reported ownership · associated 11/07/2025"
      },
      {
        "id": "cms-owner:advocate-health-care-network:3->facility:140048",
        "from": "cms-owner:advocate-health-care-network:3",
        "to": "facility:140048",
        "relationship": "owns an interest in",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "5% OR GREATER DIRECT OWNERSHIP INTEREST · 100% reported ownership · associated 01/01/1997"
      },
      {
        "id": "cms-owner:gail-hasbrouck:4->facility:140048",
        "from": "cms-owner:gail-hasbrouck:4",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE DIRECTOR · 0% reported ownership · associated 09/14/2014"
      },
      {
        "id": "cms-owner:clarence-nixon:5->facility:140048",
        "from": "cms-owner:clarence-nixon:5",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · associated 01/01/2025"
      },
      {
        "id": "cms-owner:clarence-nixon:6->facility:140048",
        "from": "cms-owner:clarence-nixon:6",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE DIRECTOR · associated 10/12/2005"
      },
      {
        "id": "cms-owner:tori-munnik:7->facility:140048",
        "from": "cms-owner:tori-munnik:7",
        "to": "facility:140048",
        "relationship": "is associated with",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "W-2 MANAGING EMPLOYEE · associated 10/01/2024"
      },
      {
        "id": "cms-owner:rachelle-hart:8->facility:140048",
        "from": "cms-owner:rachelle-hart:8",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · 0% reported ownership · associated 06/14/2023"
      },
      {
        "id": "cms-owner:kara-richardson:9->facility:140048",
        "from": "cms-owner:kara-richardson:9",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · associated 10/01/2024"
      },
      {
        "id": "cms-owner:david-anderson:10->facility:140048",
        "from": "cms-owner:david-anderson:10",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE DIRECTOR · associated 10/12/2005"
      },
      {
        "id": "cms-owner:michelle-blakely:11->facility:140048",
        "from": "cms-owner:michelle-blakely:11",
        "to": "facility:140048",
        "relationship": "is associated with",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "W-2 MANAGING EMPLOYEE · associated 10/01/2024"
      },
      {
        "id": "cms-owner:lindsay-durgin:12->facility:140048",
        "from": "cms-owner:lindsay-durgin:12",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · associated 07/01/2025"
      },
      {
        "id": "cms-owner:rachel-halverson:13->facility:140048",
        "from": "cms-owner:rachel-halverson:13",
        "to": "facility:140048",
        "relationship": "governs",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "CORPORATE OFFICER · 0% reported ownership · associated 06/14/2023"
      },
      {
        "id": "cms-owner:jequeatta-smith:14->facility:140048",
        "from": "cms-owner:jequeatta-smith:14",
        "to": "facility:140048",
        "relationship": "is associated with",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "W-2 MANAGING EMPLOYEE · 0% reported ownership · associated 10/19/2025"
      },
      {
        "id": "cms-owner:desiree-millet:15->facility:140048",
        "from": "cms-owner:desiree-millet:15",
        "to": "facility:140048",
        "relationship": "is associated with",
        "confidence": "high",
        "sourceIds": [
          "source-cms-hospital-all-owners"
        ],
        "note": "W-2 MANAGING EMPLOYEE · associated 10/01/2024"
      }
    ],
    "caveats": [
      "CMS owner rows establish enrolled legal ownership or control roles; they do not always name the ultimate financial sponsor."
    ]
  },
  "descriptiveTrends": [
    {
      "metric": "net_patient_revenue",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 395943978,
      "latestValue": 381698394,
      "absoluteChange": -14245584,
      "percentChange": -3.5978786877773907,
      "unit": "USD"
    },
    {
      "metric": "operating_expense",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 425464212,
      "latestValue": 476568987,
      "absoluteChange": 51104775,
      "percentChange": 12.011533181549943,
      "unit": "USD"
    },
    {
      "metric": "net_income",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": -23169327,
      "latestValue": -23811346,
      "absoluteChange": -642019,
      "percentChange": -2.770986830994271,
      "unit": "USD"
    },
    {
      "metric": "total_assets",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 23138561000,
      "latestValue": 22997820000,
      "absoluteChange": -140741000,
      "percentChange": -0.6082530369974175,
      "unit": "USD"
    },
    {
      "metric": "total_liabilities",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 8807582000,
      "latestValue": 8738766000,
      "absoluteChange": -68816000,
      "percentChange": -0.7813268159183758,
      "unit": "USD"
    },
    {
      "metric": "contract_labor_direct_patient_care",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 12652373,
      "latestValue": 30263562,
      "absoluteChange": 17611189,
      "percentChange": 139.19277435149914,
      "unit": "USD"
    },
    {
      "metric": "fte_employees",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 1446,
      "latestValue": 1360.77,
      "absoluteChange": -85.23000000000002,
      "percentChange": -5.894190871369296,
      "unit": "FTE"
    },
    {
      "metric": "beds",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 438,
      "latestValue": 438,
      "absoluteChange": 0,
      "percentChange": 0,
      "unit": "beds"
    },
    {
      "metric": "patient_days",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 80171,
      "latestValue": 64368,
      "absoluteChange": -15803,
      "percentChange": -19.71161641990246,
      "unit": "days"
    },
    {
      "metric": "discharges",
      "earliestPeriod": "12/31/2021",
      "latestPeriod": "12/31/2023",
      "earliestValue": 16582,
      "latestValue": 13941,
      "absoluteChange": -2641,
      "percentChange": -15.926908696176579,
      "unit": "discharges"
    }
  ]
}
