Madison Memorial Hospital
Rexburg, Madison County, ID
· CCN 130025
Licensed to Madison Co Memorial Hospital
Composite
29.1
rank score
Distress
23
FY2023
Fit
47
vs thesis
Estimated ticket
$5.3M–$10.6M
53 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin under 2%
- 60-90 days cash on hand
- occupancy 30-45%
- margin slipping
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $98.0M |
| Operating margin | 1.8% |
| Total margin | 6.6% |
| Days cash on hand | 76 |
| Current ratio | 2.80 |
| Occupancy | 40% |
Facility
| Beds | 53 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 65 | $83.8M | $7.2M | -1.5% | 7.8% | 122 | 1.95 | 33% | 2,240 | 26 |
| 2021 | 53 | $90.7M | $5.6M | 2.6% | 5.9% | 99 | 1.99 | 40% | 2,183 | 10 |
| 2022 | 53 | $94.0M | $5.2M | 1.1% | 5.2% | 85 | 2.45 | 43% | 2,136 | 22 |
| 2023 | 53 | $98.0M | $6.8M | 1.8% | 6.6% | 76 | 2.80 | 40% | 1,942 | 23 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dan Kettle | other | 2018-01 | ||
| Holly Forbush | other | 2015-01 | ||
| Jerry Rigby | other | 2011-04 | ||
| Joseph Christensen | corporate officer | 2013-08 | ||
| Ken Burt | other | 1999-06 | ||
| Marshall Merrell | other | 2006-04 | ||
| Maurie Barton | other | 2011-04 | ||
| Neil Erickson | other | 2011-04 | ||
| Rachel Gonzales | corporate officer | 2008-06 | ||
| Scott Dixon | other | 2012-09 | ||
| Taunia Berrett | w-2 managing employee | 2011-01 |
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 ID
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 |
|---|---|---|---|---|
| 2024-01-01 | Kootenai Health Inc | Kootenai Health, Inc. | Kootenai Hospital District | 326 |
| 2017-05-01 | St Joseph Hospital Llc | St Joseph Regional Medical Center | St Joseph Regional Medical Center | 108 |