Hancock County Health System
Britt, Hancock County, IA
· CCN 161307
Licensed to Hancock County Health System
Composite
29.6
rank score
Distress
32
FY2024
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin negative
- 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 | $32.2M |
| Operating margin | -2.2% |
| Total margin | 9.6% |
| Days cash on hand | 303 |
| Current ratio | 5.66 |
| Occupancy | 28% |
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 | $28.3M | $5.5M | -0.8% | 16.2% | 317 | 3.33 | 35% | 127 | 21 |
| 2022 | 25 | $28.1M | $5.4M | -6.0% | 15.5% | 334 | 5.70 | 33% | 142 | 28 |
| 2023 | 25 | $26.3M | $4.0M | -8.2% | 12.4% | 315 | 7.38 | 32% | 153 | 28 |
| 2024 | 25 | $32.2M | $3.5M | -2.2% | 9.6% | 303 | 5.66 | 28% | 147 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Laura Zwiefel | contracted managing employee | 100 | 2018-01 | |
| Laura Zwiefel | corporate officer | 100 | 2018-01 | |
| Laura Zwiefel | corporate director | 100 | 2018-01 | |
| Andrea Wilson | corporate director | 2003-08 | ||
| Deanna Kelly | corporate director | 2007-11 | ||
| Ellen Tusha | corporate director | 2010-09 | ||
| Hancock County Health System | operational/managerial control | 2016-09 | ||
| Jane Swenson | corporate director | 2021-01 | ||
| Mary Kopacek | corporate director | 2007-11 | ||
| Robert Willms | corporate director | 2007-11 | ||
| Ronnie Eden | corporate director | 2007-11 | ||
| William Paulus | corporate director | 2007-11 |
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 |