Bluffton Regional Medical Center
Bluffton, Wells County, IN
· CCN 150075
Licensed to Bluffton Health System Llc
Composite
59.2
rank score
Distress
71
FY2023
Fit
68
vs thesis
Estimated ticket
$15.8M–$63.0M
45 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy below 30%
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $39.9M |
| Operating margin | -4.4% |
| Total margin | -2.4% |
| Days cash on hand | 0 |
| Current ratio | 0.23 |
| Occupancy | 25% |
Facility
| Beds | 45 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 34 | $30.6M | $-4.9M | -24.1% | -14.9% | 0 | 0.13 | 26% | 962 | 100 |
| 2021 | 34 | $37.5M | $-1.9M | -11.3% | -4.7% | 0 | 0.19 | 35% | 1,112 | 92 |
| 2022 | 54 | $40.2M | $284K | -2.9% | 0.7% | 0 | 0.21 | 26% | 1,059 | 74 |
| 2023 | 45 | $39.9M | $-976K | -4.4% | -2.4% | 0 | 0.23 | 25% | 938 | 71 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chs Community Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2007-07 | |
| Community Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2007-07 | |
| Hma-Tri Holdings Llc | 5% or greater indirect ownership interest | 100 | 2015-12 | |
| Tennyson Holdings Llc | 5% or greater indirect ownership interest | 100 | 2007-01 | |
| Triad Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2007-07 | |
| Qhg Of Bluffton Compnay Llc | 5% or greater direct ownership interest | 99 | 2007-01 | |
| Christopher Cobb | corporate officer | 2013-04 | ||
| Edna Buffington-Price | corporate director | 2022-03 | ||
| Jason Johnson | corporate officer | 2026-01 | ||
| Jason Johnson | corporate director | 2026-01 | ||
| Julie Thompson | w-2 managing employee | 2020-01 | ||
| Justin Pitt | corporate officer | 2026-01 | ||
| Justin Pitt | corporate director | 2026-01 | ||
| Nathaniel Summar | corporate director | 2017-07 | ||
| Paula Lalor | corporate director | 2017-04 | ||
| Phillip Posey | corporate officer | 2026-01 | ||
| Roman Ottinger | corporate officer | 2020-01 | ||
| William Cash | corporate officer | 2018-06 | ||
| William Cash | corporate director | 2026-01 |
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 |