Stewart Memorial Hospital
dba Stewart Memorial Community Hospital ·
Lake City, Calhoun County, IA
· CCN 161350
Licensed to Stewart Memorial Community Hospital
Composite
37.9
rank score
Distress
54
FY2023
Fit
34
vs thesis
Estimated ticket
$1.7M–$3.3M
23 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- under 30 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- 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 · FY2023
| Net patient revenue | $36.7M |
| Operating margin | -1.6% |
| Total margin | 4.8% |
| Days cash on hand | 9 |
| Current ratio | 0.24 |
| Occupancy | 15% |
Facility
| Beds | 23 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $24.0M | $1.2M | -14.1% | 4.3% | 55 | 1.04 | 15% | 329 | 57 |
| 2021 | 25 | $26.9M | $4.4M | -9.5% | 12.9% | 37 | 0.86 | 14% | 358 | 57 |
| 2022 | 25 | $29.8M | $428K | -6.6% | 1.3% | 2 | 0.62 | 15% | 348 | 70 |
| 2023 | 23 | $36.7M | $1.9M | -1.6% | 4.8% | 9 | 0.24 | 15% | 332 | 54 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ann Lengeling | w-2 managing employee | 2020-08 | ||
| Ann Lengeling | operational/managerial control | 2020-08 | ||
| Charles Schmitt | corporate director | 2023-10 | ||
| James Henkenius | corporate officer | 2013-11 | ||
| James Henkenius | w-2 managing employee | 1997-09 | ||
| James Henkenius | operational/managerial control | 1997-09 | ||
| Jennifer Lane | corporate director | 2022-04 | ||
| Jordan Lietz | corporate officer | 2022-04 | ||
| Jordan Lietz | corporate director | 2018-04 | ||
| Julia Richardson | corporate director | 2026-01 | ||
| Julia Richardson | w-2 managing employee | 2026-01 | ||
| Julia Richardson | operational/managerial control | 2026-01 | ||
| Linn Block | contracted managing employee | 2023-12 | ||
| Linn Block | corporate officer | 2023-12 | ||
| Linn Block | operational/managerial control | 2023-12 | ||
| Mary Lauver | corporate director | 2022-04 | ||
| Scott Nesbitt | corporate officer | 2023-04 | ||
| Scott Nesbitt | corporate director | 2012-04 | ||
| Stacy Corey | corporate officer | 2024-04 | ||
| Stacy Corey | corporate director | 2022-04 | ||
| Theresa Hildreth | corporate officer | 2019-04 | ||
| Theresa Hildreth | corporate director | 2016-05 | ||
| Trinity Health Systems, Inc | operational/managerial control | 2012-08 |
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 |