Shenandoah Medical Center
dba Shenandoah Memorial Hospital ·
Shenandoah, Page County, IA
· CCN 161366
Licensed to Shenandoah Medical Center
Composite
34.4
rank score
Distress
40
FY2023
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 30-60 days cash on hand
- occupancy below 30%
- margin slipping
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $52.4M |
| Operating margin | -2.3% |
| Total margin | 9.1% |
| Days cash on hand | 54 |
| Current ratio | 2.72 |
| Occupancy | 20% |
Facility
| Beds | 25 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $36.0M | $4.2M | -15.7% | 9.2% | 163 | 1.69 | 20% | 503 | 37 |
| 2021 | 25 | $39.8M | $5.0M | -12.7% | 10.0% | 127 | 1.96 | 23% | 586 | 41 |
| 2022 | 25 | $43.3M | $741K | -6.9% | 1.6% | 77 | 2.80 | 20% | 566 | 44 |
| 2023 | 25 | $52.4M | $5.4M | -2.3% | 9.1% | 54 | 2.72 | 20% | 343 | 40 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Gregory Ritchey | corporate director | 100 | 2006-01 | |
| Jamie Hossle | w-2 managing employee | 100 | 2002-05 | |
| Mary Jo Carrell | corporate director | 100 | 2006-12 | |
| Matthew Sells | corporate officer | 100 | 2017-04 | |
| Shenandoah Medical Center | 5% or greater direct ownership interest | 100 | 1985-01 | |
| Timothy Augustine | corporate director | 100 | 2010-01 | |
| Alissa Mcginnis | corporate director | 2013-01 | ||
| David Lashier | corporate director | 2008-01 | ||
| Edward Kloberdanz | corporate director | 2011-03 | ||
| Matthew Sells | w-2 managing employee | 2013-08 | ||
| Roger Jones | corporate director | 2013-06 | ||
| Shenandoah Medical Center | operational/managerial control | 2007-10 |
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 |