Peoples Memorial Hospital
dba Buchanan County Health Center ·
Independence, Buchanan County, IA
· CCN 161335
Licensed to Peoples Memorial Hospital
Composite
25.1
rank score
Distress
22
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%
- 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 | $56.8M |
| Operating margin | -1.3% |
| Total margin | 12.0% |
| Days cash on hand | 164 |
| Current ratio | 4.50 |
| Occupancy | 8% |
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 | $41.1M | $5.6M | -7.8% | 11.1% | 183 | 2.91 | 13% | 219 | 31 |
| 2022 | 25 | $44.3M | $6.8M | -4.4% | 12.8% | 180 | 5.83 | 14% | 263 | 24 |
| 2023 | 25 | $47.6M | $5.5M | -7.1% | 9.7% | 188 | 6.57 | 10% | 211 | 31 |
| 2024 | 25 | $56.8M | $7.9M | -1.3% | 12.0% | 164 | 4.50 | 8% | 178 | 22 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Anne Edgington Mcmillan | corporate director | 2013-01 | ||
| Anthony Fortmann | corporate officer | 2024-08 | ||
| Anthony Fortmann | corporate director | 2024-08 | ||
| Anthony Fortmann | w-2 managing employee | 2024-08 | ||
| Cynthia Horn | corporate director | 2026-02 | ||
| Dennis Donlea | corporate director | 2016-07 | ||
| Donald Bloes | corporate director | 2015-07 | ||
| Robin Robinson | corporate director | 2013-01 | ||
| Vera Cummings | w-2 managing employee | 2007-11 | ||
| Wade Weis | corporate officer | 2022-02 | ||
| Wade Weis | corporate director | 2022-02 | ||
| Wade Weis | w-2 managing employee | 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 |