Manning Regional Healthcare Center
Manning, Carroll County, IA
· CCN 161332
Licensed to Manning Regional Healthcare Center
Composite
21.7
rank score
Distress
18
FY2024
Fit
34
vs thesis
Estimated ticket
$1.4M–$2.9M
17 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $22.2M |
| Operating margin | 14.1% |
| Total margin | 20.7% |
| Days cash on hand | 216 |
| Current ratio | 11.35 |
| Occupancy | 10% |
Facility
| Beds | 17 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 | 17 | $15.8M | $6.4M | -0.7% | 28.7% | 219 | 6.33 | 11% | 104 | 24 |
| 2022 | 17 | $15.4M | $-529K | -9.9% | -3.2% | 226 | 5.25 | 15% | 121 | 43 |
| 2023 | 17 | $17.4M | $945K | -2.9% | 5.0% | 163 | 3.78 | 14% | 89 | 24 |
| 2024 | 17 | $22.2M | $5.0M | 14.1% | 20.7% | 216 | 11.35 | 10% | 73 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mercy Health Network Inc | operational/managerial control | 100 | 2012-10 | |
| Amy Mclaughlin | contracted managing employee | 2015-06 | ||
| Amy Mclaughlin | corporate officer | 2015-06 | ||
| Bret Richards | corporate director | 2011-05 | ||
| Dave Muhlbauer | corporate director | 2021-06 | ||
| Jacob Ranniger | corporate director | 2018-03 | ||
| Jan Lorenzen | w-2 managing employee | 2016-04 | ||
| Jean Voege | corporate director | 2014-01 | ||
| Kristen Halbur | corporate director | 2024-08 | ||
| Larry Hagedorn | corporate director | 2009-11 | ||
| Leeann Christensen | w-2 managing employee | 2021-09 | ||
| Shannon Black | contracted managing employee | 2024-02 | ||
| Shannon Black | corporate officer | 2024-02 | ||
| Shannon Black | operational/managerial control | 2024-02 | ||
| Virginia Rasmussen | corporate director | 2009-11 |
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 |