Ringgold County Hospital
Mount Ayr, Ringgold County, IA
· CCN 161373
Licensed to Ringgold County Hospital
Composite
31.8
rank score
Distress
43
FY2024
Fit
31
vs thesis
Estimated ticket
$1.4M–$2.7M
16 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- debt above 85% of assets
- 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 | $26.6M |
| Operating margin | -3.8% |
| Total margin | 7.5% |
| Days cash on hand | 116 |
| Current ratio | 2.52 |
| Occupancy | 13% |
Facility
| Beds | 16 |
| 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 | 16 | $19.5M | $3.5M | -22.4% | 12.9% | 180 | 1.56 | 18% | 184 | 48 |
| 2022 | 16 | $22.7M | $631K | -10.2% | 2.5% | 113 | 2.28 | 24% | 183 | 52 |
| 2023 | 16 | $24.7M | $994K | -7.4% | 3.6% | 85 | 1.86 | 19% | 168 | 52 |
| 2024 | 16 | $26.6M | $2.3M | -3.8% | 7.5% | 116 | 2.52 | 13% | 144 | 43 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Christopher Elwood | corporate director | 2023-01 | ||
| Contessa Barnes | corporate officer | 2023-01 | ||
| Contessa Barnes | corporate director | 2015-01 | ||
| Edward Daily | corporate director | 2019-09 | ||
| Greg Jobe | corporate director | 2009-01 | ||
| Karleen Stephens | corporate director | 2011-01 | ||
| Kathleen Willcox | w-2 managing employee | 2021-12 | ||
| Kathleen Willcox | operational/managerial control | 2021-12 | ||
| Kimberly Bishop | corporate officer | 2023-01 | ||
| Kimberly Bishop | corporate director | 2022-07 | ||
| Melissa Walter | corporate officer | 2019-01 | ||
| Melissa Walter | w-2 managing employee | 2019-01 | ||
| Melissa Walter | operational/managerial control | 2019-01 | ||
| Mercy Health Network Inc | operational/managerial control | 2012-11 | ||
| Michael Hopkins | corporate officer | 2015-01 | ||
| Michael Hopkins | corporate director | 2013-01 | ||
| Nicholle Gilbertson | contracted managing employee | 2023-04 | ||
| Nicholle Gilbertson | corporate officer | 2023-04 | ||
| Nicholle Gilbertson | operational/managerial control | 2023-04 |
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 |