Iu Health Blackford Hospital
Hartford City, Blackford County, IN · CCN 151302
Composite
57.7
rank score
Distress
90
FY2023
Fit
43
vs thesis
Estimated ticket
$892K–$1.8M
15 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 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 · FY2023
| Net patient revenue | $15.0M |
| Operating margin | -28.4% |
| Total margin | -24.8% |
| Days cash on hand | 2 |
| Current ratio | 0.55 |
| Occupancy | 21% |
Facility
| Beds | 15 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 15 | $17.9M | $-1.4M | -9.8% | -7.7% | 167 | 1.18 | 41% | 344 | 43 |
| 2021 | 15 | $23.1M | $3.4M | -4.4% | 12.5% | 97 | 1.93 | 44% | 501 | 26 |
| 2022 | 15 | $23.9M | $-3.2M | -15.9% | -13.1% | 10 | 1.41 | 31% | 305 | 76 |
| 2023 | 15 | $15.0M | $-3.8M | -28.4% | -24.8% | 2 | 0.55 | 21% | 131 | 90 |
Owners
No ownership records — CMS has no owner filings mapped to this CCN.
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 |
|---|---|---|---|---|
| 2018-03-01 | Indiana University Health Jay Inc | Jay County Hospital | Iu Health Jay Hospital | 21 |