Grape Community Hospital - Hamburg
dba George C Grape Community Hospital ·
Hamburg, Fremont County, IA
· CCN 161324
Licensed to Community Hospital Inc
Composite
52.9
rank score
Distress
81
FY2023
Fit
41
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- 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 | $12.8M |
| Operating margin | -14.8% |
| Total margin | -11.9% |
| Days cash on hand | 28 |
| Current ratio | 1.02 |
| Occupancy | 9% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $10.9M | $-580K | -7.9% | -5.2% | 250 | 1.18 | 11% | 93 | 51 |
| 2021 | 25 | $10.9M | $4.9M | -6.7% | 29.4% | 103 | 1.76 | 9% | 64 | 36 |
| 2022 | 25 | $11.4M | $-1.4M | -22.3% | -11.6% | 22 | 1.44 | 6% | 62 | 79 |
| 2023 | 25 | $12.8M | $-1.6M | -14.8% | -11.9% | 28 | 1.02 | 9% | 78 | 81 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Angela Ettleman | corporate officer | 2024-02 | ||
| Angela Ettleman | corporate director | 2019-02 | ||
| Arthur Claiborne | corporate officer | 2024-02 | ||
| Arthur Claiborne | corporate director | 2024-02 | ||
| Cristin Hendrickson | corporate officer | 2021-11 | ||
| Cristin Hendrickson | w-2 managing employee | 2021-11 | ||
| Cristin Hendrickson | operational/managerial control | 2021-11 | ||
| Danny Osborn | corporate director | 2024-02 | ||
| Melissa Travis | corporate director | 2024-02 | ||
| Michael Ourada | contracted managing employee | 2024-01 | ||
| Michael Ourada | operational/managerial control | 2024-01 | ||
| Thomas Largen | corporate director | 2025-07 | ||
| Troy Hendrickson | corporate officer | 2024-02 | ||
| Troy Hendrickson | corporate director | 2022-02 |
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 |