Veterans Memorial Hospital
Waukon, Allamakee County, IA
· CCN 161318
Licensed to Veterans Memorial Hospital City Of Waukon Ia
Composite
36.4
rank score
Distress
47
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
- 30-60 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $25.5M |
| Operating margin | -2.9% |
| Total margin | 4.1% |
| Days cash on hand | 48 |
| Current ratio | 3.32 |
| Occupancy | 18% |
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 | $19.0M | $5.8M | -2.9% | 22.8% | 201 | 1.78 | 29% | 451 | 24 |
| 2022 | 25 | $21.7M | $2.5M | 6.7% | 11.1% | 182 | 2.08 | 29% | 411 | 9 |
| 2023 | 25 | $21.8M | $789K | -4.9% | 3.3% | 55 | 2.67 | 23% | 344 | 41 |
| 2024 | 25 | $25.5M | $1.1M | -2.9% | 4.1% | 48 | 3.32 | 18% | 334 | 47 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Veterans Memorial Hospital City Of Waukon Ia | other | 100 | 2022-11 | |
| Dawn Clark | corporate officer | 2025-01 | ||
| Dennis Koenig | corporate director | 2023-07 | ||
| Dennis Lyons | corporate director | 2022-11 | ||
| John Ellingson | corporate officer | 2025-01 | ||
| Larry Schellhammer | corporate officer | 2025-01 | ||
| Michael Coyle | w-2 managing employee | 2023-04 | ||
| Michael Coyle | operational/managerial control | 2020-09 | ||
| Patty Nordheim | corporate director | 2022-11 | ||
| Ronald Osterholm | corporate officer | 2025-01 |
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 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 |