Iu Health Frankfort Hospital
dba Iu Health Frankfort ·
Frankfort, Clinton County, IN
· CCN 151316
Licensed to Indiana University Health Frankfort Inc
Composite
57.7
rank score
Distress
90
FY2023
Fit
43
vs thesis
Estimated ticket
$714K–$1.4M
12 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
- liabilities exceed assets
- occupancy below 30%
- 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 | $25.2M |
| Operating margin | -13.5% |
| Total margin | -16.9% |
| Days cash on hand | 0 |
| Current ratio | -2.51 |
| Occupancy | 25% |
Facility
| Beds | 12 |
| 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 | 24 | $21.9M | $-4.2M | -19.2% | -18.9% | 0 | 0.20 | 17% | 347 | 100 |
| 2021 | 12 | $28.3M | $7.5M | 11.1% | 23.0% | 0 | -0.48 | 42% | 496 | 52 |
| 2022 | 12 | $29.3M | $842K | 3.0% | 2.9% | 0 | -1.47 | 35% | 416 | 52 |
| 2023 | 12 | $25.2M | $-4.1M | -13.5% | -16.9% | 0 | -2.51 | 25% | 240 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Arthur Vasquez | corporate officer | 2021-06 | ||
| Benjamin Harpenau | corporate director | 2023-08 | ||
| Erika Ugianskis | corporate director | 2021-08 | ||
| Gary Henriott | corporate director | 2017-10 | ||
| Indiana University Health Inc | operational/managerial control | 2017-06 | ||
| Jennifer Alvey | other | 2018-04 | ||
| Johnny Park | corporate director | 2023-08 | ||
| Liesel Delamater | corporate officer | 2025-08 | ||
| Liesel Delamater | w-2 managing employee | 2025-08 | ||
| Liesel Delamater | operational/managerial control | 2025-08 | ||
| Mark Buono | corporate director | 2021-12 | ||
| Michael Craig | corporate officer | 2024-07 | ||
| Philip List | corporate director | 2025-01 | ||
| Ruban Nirmalan | corporate director | 2017-10 | ||
| Shan Sheridan | corporate director | 2017-10 | ||
| Umesh Patel | corporate director | 2022-10 | ||
| Whitney Aiken | corporate officer | 2024-09 | ||
| William Li | corporate director | 2019-08 | ||
| Ying-Kei Hui | corporate director | 2024-04 |
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 |