Palo Alto County Hospital
Emmetsburg, Palo Alto County, IA
· CCN 161357
Licensed to Palo Alto County Hospital
Composite
32.2
rank score
Distress
44
FY2024
Fit
31
vs thesis
Estimated ticket
$2.0M–$4.1M
24 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $34.2M |
| Operating margin | 1.2% |
| Total margin | 11.3% |
| Days cash on hand | 19 |
| Current ratio | 1.92 |
| Occupancy | 19% |
Facility
| Beds | 24 |
| 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 | 24 | $28.6M | $6.9M | -6.8% | 18.3% | 183 | 3.37 | 28% | 392 | 31 |
| 2022 | 24 | $31.5M | $4.3M | -2.1% | 11.5% | 231 | 2.09 | 24% | 448 | 24 |
| 2023 | 24 | $28.9M | $2.4M | -14.6% | 6.6% | 79 | 2.42 | 19% | 338 | 47 |
| 2024 | 24 | $34.2M | $4.4M | 1.2% | 11.3% | 19 | 1.92 | 19% | 254 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Coleen Ruddy | w-2 managing employee | 2005-02 | ||
| Collette Johnson | corporate director | 2016-06 | ||
| Collette Johnson | w-2 managing employee | 2016-06 | ||
| Collette Johnson | operational/managerial control | 2016-06 | ||
| Cynthia Magee | corporate director | 2019-01 | ||
| Jonathan Moe | contracted managing employee | 2021-02 | ||
| Jonathan Moe | corporate officer | 2021-02 | ||
| Jonathan Moe | operational/managerial control | 2021-02 | ||
| Mark Hobart | corporate director | 2023-01 | ||
| Mary Cooper | corporate director | 2023-01 | ||
| Melanie Flynn | corporate director | 2021-01 | ||
| Mikel Jones | corporate director | 2023-01 | ||
| Nick Steinkamp | corporate director | 2022-06 | ||
| Palo Alto County Hospital | operational/managerial control | 2013-01 | ||
| Richard Brennan | corporate director | 2019-02 |
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 |