Union Hospital Clinton
Clinton, Vermillion County, IN
· CCN 151326
Licensed to Union Hospital Inc
Composite
37.1
rank score
Distress
38
FY2023
Fit
50
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- 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 | $30.0M |
| Operating margin | 17.9% |
| Total margin | 15.1% |
| Days cash on hand | 0 |
| Current ratio | 55.62 |
| Occupancy | 20% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $25.7M | $8.7M | 26.0% | 29.9% | 0 | 23.22 | 20% | 490 | 31 |
| 2021 | 25 | $33.3M | $11.4M | 37.9% | 33.8% | 0 | 25.75 | 29% | 653 | 31 |
| 2022 | 25 | $30.1M | $4.8M | 17.7% | 15.3% | 0 | 19.74 | 21% | 722 | 31 |
| 2023 | 25 | $30.0M | $4.7M | 17.9% | 15.1% | 0 | 55.62 | 20% | 694 | 38 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Union Hospital Inc | 5% or greater direct ownership interest | 100 | 2005-12 | |
| Chirag Patel | corporate director | 2026-01 | ||
| Donald Scott | corporate officer | 2017-10 | ||
| Donald Scott | corporate director | 2014-10 | ||
| John Aidoo | corporate director | 2021-01 | ||
| John Etling | corporate director | 2019-01 | ||
| Kenneth Kigorwe | corporate director | 2023-01 | ||
| Luke Terry | corporate officer | 2021-01 | ||
| Mary Doti | corporate director | 2018-01 | ||
| Molly Callahan | corporate director | 1994-10 | ||
| Richard Templeton | corporate director | 2024-01 | ||
| Robert Coons | corporate officer | 2016-10 | ||
| Robert Coons | corporate director | 2014-10 | ||
| Sara Smith | corporate officer | 2017-10 | ||
| Sara Smith | corporate director | 2014-10 | ||
| Steven Holman | corporate officer | 2014-04 | ||
| Steven Holman | w-2 managing employee | 2014-04 | ||
| Tim Sullivan | corporate officer | 2021-01 |
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 |
|---|---|---|---|---|
| 2018-03-01 | Indiana University Health Jay Inc | Jay County Hospital | Iu Health Jay Hospital | 21 |