Iu Health Jay Hospital
dba Iu Health Jay ·
Portland, Jay County, IN
· CCN 151320
Licensed to Indiana University Health Jay Inc
Composite
57.7
rank score
Distress
90
FY2023
Fit
43
vs thesis
Estimated ticket
$1.2M–$2.5M
21 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
- debt above 70% of assets
- occupancy below 30%
- margin deteriorating
- 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 | $36.2M |
| Operating margin | -15.9% |
| Total margin | -16.0% |
| Days cash on hand | 0 |
| Current ratio | -0.81 |
| Occupancy | 17% |
Facility
| Beds | 21 |
| 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 | 28 | $29.6M | $-4.0M | -31.8% | -11.3% | 52 | 0.45 | 19% | 426 | 83 |
| 2021 | 21 | $38.7M | $-638K | -2.6% | -1.6% | 0 | 0.24 | 39% | 617 | 64 |
| 2022 | 21 | $38.8M | $-1.7M | -5.6% | -4.3% | 0 | 0.01 | 25% | 400 | 79 |
| 2023 | 21 | $36.2M | $-5.8M | -15.9% | -16.0% | 0 | -0.81 | 17% | 284 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charles Routh | corporate director | 2021-03 | ||
| Christina Schemenaur | corporate officer | 2022-04 | ||
| Daniel Borgenheimer | corporate director | 2021-03 | ||
| Dea Bell | corporate director | 2023-05 | ||
| Derron Bishop | corporate director | 2021-03 | ||
| Donald Engel | corporate director | 2024-05 | ||
| Eric Westergren | corporate director | 2025-05 | ||
| Geoffrey Mearns | corporate director | 2021-03 | ||
| Indiana University Health Inc | operational/managerial control | 2018-03 | ||
| Joan Castor | corporate director | 2021-03 | ||
| John Rhea | corporate director | 2021-03 | ||
| Kevin Woodgett | corporate director | 2024-05 | ||
| Liesel Delamater | corporate officer | 2026-02 | ||
| Liesel Delamater | w-2 managing employee | 2026-02 | ||
| Liesel Delamater | operational/managerial control | 2026-02 | ||
| Michael Craig | corporate officer | 2024-07 | ||
| Michael Craig | operational/managerial control | 2024-07 | ||
| Michael Fisher | corporate director | 2021-03 | ||
| Michelle Altobella | corporate officer | 2018-03 | ||
| Patrick Cleary | corporate director | 2021-03 | ||
| Peter Voss | corporate director | 2021-03 | ||
| Terry Bailey | corporate director | 2021-03 | ||
| Wilbur Davis | corporate director | 2021-03 | ||
| William Hinkle | corporate director | 2018-03 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-03-01 | change of ownership | Indiana University Health Jay Inc | Jay County Hospital |
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 |