Grundy County Mem. Hospital
dba Grundy County Memorial Hospital ·
Grundy Center, Grundy County, IA
· CCN 161303
Licensed to Grundy County Memorial Hospital
Composite
23.3
rank score
Distress
18
FY2024
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $34.8M |
| Operating margin | 12.0% |
| Total margin | 13.8% |
| Days cash on hand | 300 |
| Current ratio | 4.05 |
| Occupancy | 16% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $22.4M | $6.4M | 8.5% | 23.9% | 395 | 4.07 | 15% | 94 | 9 |
| 2022 | 25 | $25.7M | $3.3M | 8.3% | 12.3% | 266 | 4.45 | 13% | 140 | 9 |
| 2023 | 25 | $26.4M | $1.7M | 6.1% | 6.4% | 256 | 3.06 | 15% | 143 | 9 |
| 2024 | 25 | $34.8M | $4.9M | 12.0% | 13.8% | 300 | 4.05 | 16% | 164 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adam Scherling | contracted managing employee | 2018-07 | ||
| Adam Scherling | corporate officer | 2018-07 | ||
| Adam Scherling | operational/managerial control | 2018-07 | ||
| Allen Health Systems Inc | operational/managerial control | 2004-07 | ||
| Brent Bovy | corporate director | 2016-02 | ||
| Christine Schildroth | corporate officer | 2022-07 | ||
| Christine Schildroth | corporate director | 2021-10 | ||
| Douglas Kruse | corporate director | 2020-08 | ||
| Elizabeth Waller | corporate director | 2023-09 | ||
| Eric Olson | corporate director | 2023-06 | ||
| Jeremy Cordes | contracted managing employee | 2022-12 | ||
| Jeremy Cordes | operational/managerial control | 2022-12 | ||
| Lisa Zinkula | contracted managing employee | 2003-03 | ||
| Lisa Zinkula | corporate officer | 2013-01 | ||
| Lisa Zinkula | operational/managerial control | 2003-03 | ||
| Melody Hoy | corporate officer | 2019-08 | ||
| Melody Hoy | corporate director | 2019-05 | ||
| Richard Smith | corporate officer | 2021-07 | ||
| Richard Smith | corporate director | 2019-06 | ||
| Todd Geer | corporate director | 2016-08 |
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 IA
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 |
|---|---|---|---|---|
| 2021-07-01 | Henry County Health Center Inc | Henry County Soldiers' And... | Henry County Health Center | 25 |
| 2019-05-01 | Avera Mckennan | Sanford Health Network | Avera Merrill Pioneer Hospital | 11 |