Kau Hospital
Pahala, Hawaii County, HI
· CCN 121301
Licensed to Kau Hospital
Composite
54.1
rank score
Distress
82
FY2024
Fit
43
vs thesis
Estimated ticket
$1.2M–$2.5M
21 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $44.8M |
| Operating margin | -37.7% |
| Total margin | -13.4% |
| Days cash on hand | 7 |
| Current ratio | 0.72 |
| Occupancy | 79% |
Facility
| Beds | 21 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 5 | $18.4M | $-7.1M | -63.8% | -30.7% | 7 | 0.38 | — | 26 | 100 |
| 2022 | 21 | $31.6M | $3.9M | -12.2% | 10.0% | 7 | 0.16 | 88% | 14 | 74 |
| 2023 | 21 | $34.0M | $-2.5M | -35.6% | -5.8% | 8 | 0.23 | 84% | 1 | 87 |
| 2024 | 21 | $44.8M | $-7.3M | -37.7% | -13.4% | 7 | 0.72 | 79% | 1 | 82 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chad Farias | corporate director | 2021-03 | ||
| Clarysse Nunokawa | corporate director | 2019-06 | ||
| Daniel Belcher | corporate director | 2020-06 | ||
| Daniel Brinkman | corporate officer | 2014-08 | ||
| Daniel Brinkman | operational/managerial control | 2014-08 | ||
| Denise Mackey | w-2 managing employee | 2004-02 | ||
| Hawaii Health Systems Corporation | operational/managerial control | 1996-07 | ||
| Jay Ignacio | corporate director | 2019-04 | ||
| Jennifer Zelko-Schlueter | corporate director | 2022-07 | ||
| Joni Waltjen | corporate officer | 2018-04 | ||
| Joni Waltjen | operational/managerial control | 2018-04 | ||
| Joseph Skruch | corporate director | 2022-03 | ||
| Juliette Tulang | corporate director | 2024-01 | ||
| Lara Gomez | corporate director | 2022-11 | ||
| Randall Kurohara | corporate director | 2014-01 | ||
| Yvonne Wong | corporate director | 2022-10 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
Who has been buying in HI
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2017-07-01 | Maui Health System A Kaiser... | Lanai Community Hospital | Lanai Community Hospital | 4 |
| 2017-07-01 | Maui Health System A Kaiser... | Kula Hospital | Kula Hospital | 9 |