Hancock Regional Hospital
Greenfield, Hancock County, IN
· CCN 150037
Licensed to Hancock Regional Hospital
Composite
52.7
rank score
Distress
53
FY2023
Fit
72
vs thesis
Estimated ticket
$48.0M–$192M
113 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- occupancy below 30%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $160M |
| Operating margin | -22.7% |
| Total margin | 4.5% |
| Days cash on hand | 17 |
| Current ratio | 7.01 |
| Occupancy | 27% |
Facility
| Beds | 113 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 83 | $127M | $5.8M | -20.0% | 3.7% | 33 | 4.78 | 29% | 2,330 | 53 |
| 2021 | 95 | $141M | $13.5M | -14.0% | 7.7% | 27 | 8.20 | 31% | 3,027 | 56 |
| 2022 | 105 | $149M | $-38.0M | -26.1% | -25.3% | 21 | 6.77 | 28% | 2,988 | 76 |
| 2023 | 113 | $160M | $9.4M | -22.7% | 4.5% | 17 | 7.01 | 27% | 2,817 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Jennifer Stanley | corporate officer | 2025-06 | ||
| Jennifer Stanley | w-2 managing employee | 2025-06 | ||
| Steven Long | corporate officer | 2014-07 | ||
| Steven Long | w-2 managing employee | 2014-07 | ||
| Tamara Strunk | corporate officer | 2025-06 | ||
| Tamara Strunk | w-2 managing employee | 2025-06 |
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 |