Waverly Health Center
Waverly, Bremer County, IA
· CCN 161339
Licensed to Waverly Health Center
Composite
27.8
rank score
Distress
28
FY2024
Fit
38
vs thesis
Estimated ticket
$1.8M–$3.6M
21 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- margin slipping
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $83.2M |
| Operating margin | 4.6% |
| Total margin | 5.9% |
| Days cash on hand | 5 |
| Current ratio | 1.79 |
| Occupancy | 38% |
Facility
| Beds | 21 |
| 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 | 21 | $60.1M | $4.9M | -7.2% | 7.0% | 39 | 0.99 | 37% | 862 | 58 |
| 2022 | 21 | $64.7M | $4.1M | -8.0% | 5.8% | 17 | 1.21 | 42% | 885 | 58 |
| 2023 | 21 | $68.6M | $-782K | -8.6% | -1.1% | 8 | 1.19 | 40% | 799 | 66 |
| 2024 | 21 | $83.2M | $5.2M | 4.6% | 5.9% | 5 | 1.79 | 38% | 721 | 28 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ann Henninger Trax | corporate officer | 2022-01 | ||
| Ann Henninger Trax | corporate director | 2020-01 | ||
| David Rathe | corporate director | 2024-01 | ||
| Jodi Geerts | corporate officer | 2023-01 | ||
| Jodi Geerts | w-2 managing employee | 2023-01 | ||
| Jodi Geerts | operational/managerial control | 2023-01 | ||
| Kelly Hilsenbeck | w-2 managing employee | 2023-02 | ||
| Kelly Hilsenbeck | operational/managerial control | 2023-02 | ||
| Laurie Everhardt | corporate director | 2022-01 | ||
| Philip Jones | corporate officer | 2022-01 | ||
| Philip Jones | corporate director | 2021-08 | ||
| Renu Bansal | w-2 managing employee | 2023-01 | ||
| Renu Bansal | operational/managerial control | 2023-01 |
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 |