Franciscan Health Crawfordsville
Crawfordsville, IN
· CCN 150022
Licensed to Franciscan Health Crawfordsville
Composite
33.1
rank score
Distress
21
FY2023
Fit
59
vs thesis
Estimated ticket
$2.9M–$5.8M
29 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $55.3M |
| Operating margin | 1.2% |
| Total margin | 2.8% |
| Days cash on hand | 168 |
| Current ratio | 7.83 |
| Occupancy | 30% |
Facility
| Beds | 29 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 29 | $62.0M | $9.7M | 5.6% | 14.3% | 56 | 1.59 | 31% | 912 | 22 |
| 2021 | 29 | $74.0M | $14.1M | 17.2% | 18.8% | 147 | 2.91 | 41% | 982 | 10 |
| 2022 | 29 | $51.3M | $-776K | -2.9% | -1.5% | 166 | 7.76 | 36% | 946 | 29 |
| 2023 | 29 | $55.3M | $1.6M | 1.2% | 2.8% | 168 | 7.83 | 30% | 1,040 | 21 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Franciscan Alliance Inc | 5% or greater direct ownership interest | 100 | 2007-01 | |
| Alan Gillespie | corporate director | 2021-12 | ||
| Ann Magiera | corporate director | 2007-01 | ||
| Anna Hoefer | corporate director | 2023-08 | ||
| Catherine Nielsen | corporate director | 2014-10 | ||
| Ernest Iannotta | corporate director | 2012-01 | ||
| Hilton Hudson | corporate director | 2021-12 | ||
| Jason Geddes | w-2 managing employee | 2013-06 | ||
| Kathleen Goeppinger | corporate director | 2007-01 | ||
| Kenneth Herlin | corporate director | 2014-01 | ||
| Kevin Leahy | corporate director | 2007-01 | ||
| Lethia Leveille | corporate director | 2013-01 | ||
| Madonna Rougeau | corporate director | 2007-01 | ||
| Margaret Mitchel | corporate director | 2023-08 | ||
| Marie Morgan | corporate director | 2023-08 | ||
| Marilyn Oliver | corporate director | 2007-01 | ||
| Marlene Shapley | corporate director | 2007-01 | ||
| Pamela Shultz | corporate officer | 2023-08 | ||
| Terrance Wilson | corporate officer | 2013-07 | ||
| Terrence Klein | w-2 managing employee | 2013-10 |
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 IN
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 |
|---|---|---|---|---|
| 2025-12-28 | Indiana University Health Inc | Indiana University Health North... | Indiana University Health | 1,274 |
| 2025-12-13 | Union Hospital Inc | Terre Haute Regional Hospital Lp | Union Hospital Inc. | 260 |
| 2025-07-01 | Parkview Logansport Hospital Inc | Memorial Hospital | Memorial Hospital Logansport | 37 |
| 2024-03-01 | Franciscan Health Michigan City | Franciscan Beacon Hospital, Llc | Franciscan Health Michigan City | 133 |
| 2020-11-01 | St Elizabeth Medical Center, Inc | Dearborn County Hospital | St Elizabeth Dearborn | 50 |
| 2019-07-16 | Reid Hospital & Health Care Services Inc | Fayette Memorial Hospital Association Inc | Reid Hospital & Health Care Services | 183 |