Adams Memorial Hospital
dba Adams County Memorial Hospital ·
Decatur, Adams County, IN
· CCN 151330
Licensed to Adams County Memorial Hospital
Composite
53.5
rank score
Distress
64
FY2023
Fit
57
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin negative
- total margin below -8%
- under 30 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $80.7M |
| Operating margin | -4.2% |
| Total margin | -9.4% |
| Days cash on hand | 0 |
| Current ratio | 2.33 |
| Occupancy | 42% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | urban |
| Ownership class | government |
| 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 | $65.4M | $-849K | -0.1% | -1.2% | 59 | 1.42 | 60% | 827 | 43 |
| 2021 | 25 | $71.1M | $-454K | 1.9% | -0.6% | 13 | 1.76 | 56% | 996 | 39 |
| 2022 | 25 | $76.5M | $-590K | 0.1% | -0.7% | 11 | 1.96 | 50% | 957 | 39 |
| 2023 | 25 | $80.7M | $-8.1M | -4.2% | -9.4% | 0 | 2.33 | 42% | 931 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adams County Memorial Hospital | 5% or greater direct ownership interest | 100 | 1966-01 | chain |
| Andy Myers | corporate officer | 2026-03 | ||
| Andy Myers | w-2 managing employee | 2026-03 | ||
| Candice Borne-Bauman | corporate officer | 2020-07 | ||
| David Mcintire | corporate officer | 2020-07 | ||
| Kyle Sprunger | corporate officer | 2026-03 | ||
| Kyle Sprunger | w-2 managing employee | 2026-03 | ||
| Larry Macklin | corporate officer | 2008-01 | ||
| Larry Macklin | corporate director | 2008-01 | ||
| Russell Flueckiger | corporate officer | 2006-01 | ||
| Russell Flueckiger | corporate director | 2006-01 | ||
| Scott Smith | corporate officer | 2020-07 | ||
| Scott Smith | corporate director | 2020-07 |
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 |