Dukes Memorial Hospital
Peru, Miami County, IN
· CCN 151318
Licensed to Dukes Health System Llc
Composite
52.0
rank score
Distress
65
FY2023
Fit
57
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
for-profit
CAH
Why it ranks here
- operating margin negative
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- margin slipping
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $39.9M |
| Operating margin | -4.5% |
| Total margin | -4.3% |
| Days cash on hand | 0 |
| Current ratio | -0.27 |
| Occupancy | 38% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $32.8M | $-1.2M | -9.8% | -3.3% | 0 | -0.39 | 52% | 940 | 72 |
| 2021 | 25 | $47.0M | $8.2M | 13.0% | 16.7% | 0 | -0.21 | 64% | 990 | 36 |
| 2022 | 25 | $43.5M | $4.3M | 6.9% | 9.7% | 0 | -0.24 | 55% | 874 | 38 |
| 2023 | 25 | $39.9M | $-1.7M | -4.5% | -4.3% | 0 | -0.27 | 38% | 676 | 65 |
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 | |
| Qhg Of Clinton County Inc | 5% or greater direct ownership interest | 100 | 2007-07 | |
| Tennyson Holdings Llc | 5% or greater indirect ownership interest | 100 | 2007-07 | |
| Triad Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2015-12 | |
| Christopher Cobb | corporate officer | 2017-04 | ||
| Debra Close | w-2 managing employee | 2007-01 | ||
| Edna Buffington-Price | corporate director | 2022-03 | ||
| Jason Johnson | corporate officer | 2020-01 | ||
| Justin Pitt | corporate officer | 2022-03 | ||
| Justin Pitt | corporate director | 2022-03 | ||
| Kevin Hammons | corporate officer | 2012-02 | ||
| Kevin Hammons | corporate director | 2020-01 | ||
| Nathaniel Summar | corporate director | 2017-07 | ||
| Paula Lalor | corporate director | 2017-04 | ||
| Roman Ottinger | corporate officer | 2020-01 | ||
| William Cash | corporate officer | 2018-06 |
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 |
|---|---|---|---|---|
| 2018-03-01 | Indiana University Health Jay Inc | Jay County Hospital | Iu Health Jay Hospital | 21 |