Greater Regional Medical Center
Creston, Union County, IA
· CCN 161365
Licensed to Greater Regional Medical Center
Composite
24.5
rank score
Distress
17
FY2024
Fit
42
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 30-45%
- margin slipping
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $112M |
| Operating margin | 6.5% |
| Total margin | 13.1% |
| Days cash on hand | 64 |
| Current ratio | 3.09 |
| Occupancy | 39% |
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 | $76.2M | $13.6M | -3.5% | 14.7% | 113 | 3.97 | 39% | 874 | 26 |
| 2022 | 25 | $85.2M | $8.8M | 2.3% | 9.5% | 62 | 2.52 | 40% | 1,015 | 16 |
| 2023 | 25 | $89.4M | $5.6M | -4.4% | 5.7% | 69 | 2.46 | 39% | 896 | 31 |
| 2024 | 25 | $112M | $15.9M | 6.5% | 13.1% | 64 | 3.09 | 39% | 766 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Central Iowa Hospital Corporation | operational/managerial control | 2017-07 | ||
| Julie Lanning | corporate director | 2019-08 | ||
| Kenneth Stults | corporate officer | 2025-01 | ||
| Kenneth Stults | corporate director | 2015-01 | ||
| Matthew Epp | w-2 managing employee | 2025-01 | ||
| Matthew Epp | operational/managerial control | 2025-01 | ||
| Matthew Mccutchan | corporate officer | 2013-11 | ||
| Matthew Mccutchan | w-2 managing employee | 2009-03 | ||
| Matthew Mccutchan | operational/managerial control | 2009-03 | ||
| Monte Neitzel | corporate officer | 2013-11 | ||
| Monte Neitzel | w-2 managing employee | 2003-08 | ||
| Monte Neitzel | operational/managerial control | 2003-08 | ||
| R Davis | corporate officer | 2012-01 | ||
| R Davis | corporate director | 1995-01 | ||
| Sharon Mckie | corporate officer | 2011-01 | ||
| Sharon Mckie | corporate director | 1997-01 | ||
| Thomas Lesan | corporate officer | 2023-01 | ||
| Thomas Lesan | corporate director | 2010-03 |
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 |