Iroquois Memorial Hospital
Watseka, IL
· CCN 141353
Licensed to Iroquois Memorial Hospital And Resident Home
Composite
19.8
rank score
Distress
9
FY2023
Fit
40
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy below 30%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $10.3M |
| Operating margin | 36.3% |
| Total margin | 45.0% |
| Days cash on hand | 209 |
| Current ratio | 2.15 |
| Occupancy | 12% |
Facility
| Beds | 25 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 25 | $10.3M | $5.4M | 36.3% | 45.0% | 209 | 2.15 | 12% | 65 | 9 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Daniel Tincher | corporate director | 2021-12 | ||
| Doug Geiger | corporate director | 2022-07 | ||
| Michael Tilstra | corporate officer | 2022-01 | ||
| Michael Tilstra | w-2 managing employee | 2022-01 | ||
| Michelle Fox | w-2 managing employee | 2018-09 | ||
| Paul Ducat | corporate director | 2022-01 | ||
| Philip Zumwalt | corporate director | 2021-12 | ||
| Rhonda Pence | corporate director | 2022-07 | ||
| Roger Dittrich | corporate director | 2021-12 | ||
| Sara Mikuta | corporate officer | 2021-12 |
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 |