Loring Hospital
Sac City, Sac County, IA
· CCN 161370
Licensed to Loring Hospital
Composite
24.5
rank score
Distress
18
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy below 30%
- margin deteriorating sharply
- 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 · FY2024
| Net patient revenue | $20.7M |
| Operating margin | 11.2% |
| Total margin | 15.7% |
| Days cash on hand | 203 |
| Current ratio | 2.94 |
| Occupancy | 4% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $15.2M | $4.5M | 6.2% | 23.8% | 231 | 2.24 | 6% | 130 | 9 |
| 2022 | 25 | $17.0M | $2.3M | 6.6% | 12.5% | 256 | 4.67 | 6% | 137 | 9 |
| 2023 | 25 | $17.6M | $1.7M | 5.0% | 9.2% | 193 | 6.17 | 4% | 102 | 9 |
| 2024 | 25 | $20.7M | $3.4M | 11.2% | 15.7% | 203 | 2.94 | 4% | 106 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Evan Hecht | corporate director | 2016-04 | ||
| Frances Becker | corporate officer | 2010-07 | ||
| Frances Becker | corporate director | 2010-02 | ||
| Frank Richardson | corporate officer | 2022-01 | ||
| Frank Richardson | corporate director | 2019-01 | ||
| John Meredith | corporate officer | 2016-01 | ||
| John Meredith | corporate director | 2014-06 | ||
| Kay Blessington | corporate director | 2023-01 | ||
| Kodi Brotherson | corporate director | 2024-05 | ||
| Leszek Marczewski | operational/managerial control | 1998-05 | ||
| Matthew Johnson | contracted managing employee | 2022-11 | ||
| Matthew Johnson | corporate officer | 2022-11 | ||
| Matthew Johnson | operational/managerial control | 2022-11 | ||
| Mindy Steinkamp | w-2 managing employee | 2021-10 | ||
| Mindy Steinkamp | operational/managerial control | 2021-10 | ||
| Rochelle Crump | corporate officer | 2019-03 | ||
| Rochelle Crump | corporate director | 2017-08 | ||
| Russell Davis | corporate director | 2019-01 | ||
| Trinity Health Systems, Inc | operational/managerial control | 1994-01 | ||
| Wendy Hurd | corporate director | 2024-05 | ||
| Zoltan Pek | corporate director | 2021-02 |
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 |