Delaware County Memorial Hospital
dba Regional Medical Center ·
Manchester, Delaware County, IA
· CCN 161343
Licensed to Delaware County Memorial Hospital
Composite
22.9
rank score
Distress
17
FY2024
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- 60-90 days cash on hand
- 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 | $78.7M |
| Operating margin | 4.1% |
| Total margin | 15.5% |
| Days cash on hand | 70 |
| Current ratio | 3.42 |
| Occupancy | 30% |
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 | $55.0M | $10.6M | -13.0% | 14.6% | 78 | 2.86 | 29% | 646 | 47 |
| 2022 | 25 | $61.4M | $9.6M | 0.7% | 13.6% | 90 | 2.53 | 34% | 747 | 22 |
| 2023 | 25 | $66.5M | $7.3M | -1.2% | 9.8% | 65 | 2.90 | 32% | 712 | 31 |
| 2024 | 25 | $78.7M | $13.9M | 4.1% | 15.5% | 70 | 3.42 | 30% | 669 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Danette Kramer | corporate officer | 100 | 2021-01 | |
| Danette Kramer | corporate director | 100 | 2021-01 | |
| John Zietlow | corporate director | 100 | 2024-08 | |
| Cathy Lilienthal | corporate director | 2017-09 | ||
| Chris Tegeler | corporate director | 2008-07 | ||
| Danette Kramer | w-2 managing employee | 1996-01 | ||
| Delaware County Memorial Hospital | operational/managerial control | 2013-08 | ||
| Jane Sherman | corporate director | 2023-01 | ||
| Joe Keith | corporate director | 2001-01 | ||
| Kathy Swift | corporate director | 2023-01 | ||
| Steve Palmer | corporate director | 2004-06 |
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 |