Harvard Memorial Hospital
dba Mercy Harvard Hospital ·
Harvard, Mc Henry County, IL
· CCN 141335
Licensed to Mercy Harvard Hospital Inc
Composite
30.6
rank score
Distress
39
FY2024
Fit
32
vs thesis
Estimated ticket
$1.1M–$2.2M
13 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 60-90 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $27.6M |
| Operating margin | 6.6% |
| Total margin | 7.1% |
| Days cash on hand | 78 |
| Current ratio | -0.38 |
| Occupancy | 9% |
Facility
| Beds | 13 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 13 | $32.7M | $7.2M | 16.9% | 21.0% | 238 | 3.10 | 23% | 371 | 9 |
| 2022 | 13 | $32.4M | $4.9M | 13.5% | 14.8% | 351 | 2.90 | 22% | 313 | 9 |
| 2023 | 13 | $30.4M | $3.9M | 12.5% | 12.9% | 71 | -0.44 | 13% | 212 | 32 |
| 2024 | 13 | $27.6M | $2.0M | 6.6% | 7.1% | 78 | -0.38 | 9% | 179 | 39 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mercy Health Corporation | 5% or greater direct ownership interest | 100 | 2016-01 | |
| Mercy Health Corporation | operational/managerial control | 100 | 2016-01 | |
| Ali Olia | corporate officer | 2021-11 | ||
| Ali Olia | w-2 managing employee | 2021-11 | ||
| Amy Whitaker | corporate officer | 2022-08 | ||
| Amy Whitaker | w-2 managing employee | 2022-08 | ||
| Bradley Olson | corporate officer | 2023-09 | ||
| Bradley Olson | w-2 managing employee | 2023-09 | ||
| Carlos Arevalo | corporate director | 2024-10 | ||
| Dave Syverson | corporate director | 2016-01 | ||
| Edward Cranley | corporate officer | 2014-11 | ||
| Edward Cranley | w-2 managing employee | 2014-11 | ||
| Hannah Engelkes | w-2 managing employee | 2025-11 | ||
| Javon Bea | corporate officer | 1989-07 | ||
| Javon Bea | corporate director | 2016-01 | ||
| Jennifer Hallatt | corporate officer | 2012-01 | ||
| Jennifer Hallatt | w-2 managing employee | 2012-01 | ||
| Joanna Benning | corporate officer | 2015-03 | ||
| Joanna Benning | w-2 managing employee | 2015-03 | ||
| John Dorsey | corporate officer | 2012-08 | ||
| John Dorsey | w-2 managing employee | 2012-08 | ||
| Joseph Malas | corporate officer | 2025-06 | ||
| Joseph Malas | w-2 managing employee | 2025-06 | ||
| Kara Sankey | corporate officer | 2021-04 | ||
| Kara Sankey | w-2 managing employee | 2021-04 |
Showing 25 of 40. Full list via /api/targets/141335.
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 |
|---|---|---|---|---|
| 2023-01-14 | Deaconess Illinois Union County... | Anna Hospital Corporation | Union County Hospital District | 25 |
| 2023-01-14 | Deaconess Illinois Red Bud... | Red Bud Illinois Hospital Company Llc | Red Bud Regional Hospital | 25 |
| 2022-07-01 | Sarah Bush Lincoln Health Center | Fayette County Hospital District | Fayette County Hospital | 25 |
| 2021-07-01 | Osf Healthcare System | Julia Rackley Perry Memorial Hospital | Osf Saint Clare Medical Center | 25 |
| 2020-07-01 | Carle Eureka Hospital | Advocate Health And Hospitals Corporation | Carle Eureka Hospital | 25 |