Madison County Memorial Hospital
dba Madison County Health Care System ·
Winterset, Madison County, IA
· CCN 161326
Licensed to Madison County Memorial Hospital
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 | $29.7M |
| Operating margin | -4.7% |
| Total margin | 11.7% |
| Days cash on hand | 185 |
| Current ratio | 4.08 |
| Occupancy | 15% |
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 | $24.5M | $5.7M | -11.5% | 16.9% | 208 | 5.84 | 17% | 129 | 37 |
| 2022 | 25 | $26.4M | $5.1M | 0.7% | 16.0% | 185 | 4.86 | 17% | 224 | 16 |
| 2023 | 25 | $25.6M | $2.1M | -9.2% | 7.0% | 124 | 4.93 | 13% | 195 | 36 |
| 2024 | 25 | $29.7M | $4.2M | -4.7% | 11.7% | 185 | 4.08 | 15% | 225 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Audra Ford | corporate officer | 2024-09 | ||
| Audra Ford | w-2 managing employee | 2024-09 | ||
| Audra Ford | operational/managerial control | 2024-09 | ||
| Brian Gibson | corporate officer | 2022-12 | ||
| Brian Gibson | corporate director | 2021-12 | ||
| Gary Van Dyke | corporate director | 2025-01 | ||
| Jacque Mohs | corporate officer | 2021-01 | ||
| Jacque Mohs | corporate director | 2015-07 | ||
| Jared Mcdonald | corporate officer | 2019-09 | ||
| Jared Mcdonald | corporate director | 2015-05 | ||
| Julie Plant | corporate director | 2026-01 | ||
| Kevin Deregnier | w-2 managing employee | 2025-11 | ||
| Kevin Deregnier | operational/managerial control | 2025-11 | ||
| Marcia Hendricks | contracted managing employee | 2003-09 | ||
| Marcia Hendricks | corporate officer | 2016-06 | ||
| Marcia Hendricks | operational/managerial control | 2003-09 | ||
| Mercy Health Network Inc | operational/managerial control | 2012-11 | ||
| Sarah Nigg | corporate director | 2024-05 | ||
| Sharon Carlson | corporate director | 2017-01 |
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 |