Herrin Hospital
Herrin, IL
· CCN 140011
Licensed to Southern Illinois Hospital Services
Composite
31.6
rank score
Distress
20
FY2024
Fit
56
vs thesis
Estimated ticket
$8.5M–$17.0M
85 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $191M |
| Operating margin | 24.5% |
| Total margin | 3.8% |
| Days cash on hand | 2 |
| Current ratio | 1.59 |
| Occupancy | 72% |
Facility
| Beds | 85 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 85 | $174M | $-32.9M | 21.0% | -17.2% | 15 | 0.59 | 77% | 5,604 | 60 |
| 2022 | 85 | $198M | $5.2M | 17.3% | 2.6% | 9 | 0.71 | 84% | 5,433 | 43 |
| 2023 | 85 | $198M | $15.0M | 20.2% | 7.3% | 0 | 1.04 | 83% | 4,943 | 30 |
| 2024 | 85 | $191M | $7.5M | 24.5% | 3.8% | 2 | 1.59 | 72% | 4,390 | 20 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Southern Illinois Healthcare Enterprises Inc | 5% or greater direct ownership interest | 100 | 1983-07 | |
| Southern Illinois Hospital Services | operational/managerial control | 100 | 2007-11 | |
| Austin Lane | corporate director | 2021-05 | ||
| Daniel Booth | corporate director | 2020-03 | ||
| Debra Braunling-Mcmorrow | corporate director | 2011-09 | ||
| Edna Simpson | corporate director | 2004-11 | ||
| George O'neill | corporate director | 2002-03 | ||
| John Antes | corporate director | 2022-12 | ||
| John Antes | w-2 managing employee | 2022-12 | ||
| Kathleen Fralish | corporate director | 1996-03 | ||
| Michael Tison | corporate director | 2021-07 | ||
| Morton Levine | corporate director | 1990-06 | ||
| Robert Mees | corporate director | 2012-09 | ||
| Shannon Hartke | w-2 managing employee | 2008-03 | ||
| Steven Sabens | corporate director | 2002-03 | ||
| W E Basanta | corporate director | 1995-01 | ||
| Warren Ladner | corporate director | 2022-02 | ||
| Warren Ladner | w-2 managing employee | 2022-02 |
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 IL
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 |
|---|---|---|---|---|
| 2025-03-01 | Saint Joseph Medical Center - Joliet Llc | Presence Central And Suburban... | Presence St. Joseph Medical Center | 425 |
| 2025-03-01 | St Marys Hospital - Kankakee Llc | Presence Central And Suburban... | Presence St. Marys Hospital | 169 |
| 2025-03-01 | Mercy Medical Center - Aurora Llc | Presence Central And Suburban... | Presence Mercy Medical Center | 190 |
| 2025-03-01 | Saint Joseph Hospital - Elgin Llc | Presence Central And Suburban... | Presence Saint Joseph Hospital Elgin | 144 |
| 2025-03-01 | Saint Francis Hospital - Evanston Llc | Presence Chicago Hospitals Network | Presence Saint Francis Hospital | 146 |
| 2025-03-01 | Resurrection Medical Center - Chicago Llc | Presence Chicago Hospitals Network | Presence Resurrection Medical Center | 221 |
| 2025-03-01 | Saint Mary Of Nazareth Hospital -... | Presence Chicago Hospitals Network | Presence Saints Mary & Elizabeth Med | 296 |
| 2025-01-01 | Osf Healthcare System | Katherine Shaw Bethea Hospital | Katherine Shaw Bethea Hospital | 80 |
| 2023-03-01 | American Healthcare Systems Illinois Llc | Granite City Illinois Hospital Company Llc | Gateway Regional | 288 |
| 2023-01-14 | Deaconess Illinois Crossroads Inc | National Healthcare Of Mt Vernon Inc | Crossroads Community Hospital | 47 |
| 2023-01-14 | Deaconess Regional Healthcare... | Marion Hospital Corporation | Heartland Regional Medical Center | 94 |
| 2020-12-01 | Advocate Health And Hospitals Corporation | Advocate Health And Hospitals Corporation | Advocate Southland Health Network | 438 |
| 2020-07-01 | Carle Bromenn Medical Center | Advocate Health And Hospitals Corporation | Carle Bromenn Medical Center | 206 |
| 2020-02-01 | Osf Healthcare System | Little Company Of Mary Hospital Inc | Little Company Of Mary | 222 |
| 2019-10-01 | Thorek Memorial Hospital | Bethany Homes And Methodist Hospital | Methodist Hospital Of Chicago | 141 |