Myrtue Medical Center
Harlan, Shelby County, IA
· CCN 161374
Licensed to Shelby County Chris A Myrtue Memorial Hospital
Composite
36.4
rank score
Distress
47
FY2024
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin -10% to -5%
- 60-90 days cash on hand
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $54.7M |
| Operating margin | -7.5% |
| Total margin | 7.9% |
| Days cash on hand | 90 |
| Current ratio | 3.35 |
| Occupancy | 25% |
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 | $42.2M | $8.2M | -11.9% | 14.8% | 207 | 2.64 | 32% | 525 | 33 |
| 2022 | 25 | $40.8M | $6.2M | -17.3% | 11.4% | 204 | 2.64 | 35% | 621 | 33 |
| 2023 | 25 | $48.8M | $4.4M | -9.3% | 7.5% | 69 | 3.95 | 32% | 621 | 38 |
| 2024 | 25 | $54.7M | $5.0M | -7.5% | 7.9% | 90 | 3.35 | 25% | 491 | 47 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Barry Jacobsen | corporate officer | 1997-05 | ||
| Barry Jacobsen | w-2 managing employee | 1997-05 | ||
| Barry Jacobsen | operational/managerial control | 1997-05 | ||
| Brian Anderson | w-2 managing employee | 2023-01 | ||
| James Bieker | corporate director | 2023-12 | ||
| James Zimmerman | corporate director | 2019-01 | ||
| Janis Norgaard | corporate director | 2023-01 | ||
| Jeanine Larsen | corporate director | 2021-01 | ||
| Kathleen Schomer Kohorst | corporate director | 2023-01 | ||
| Kile Magner | corporate officer | 2026-01 | ||
| Kile Magner | w-2 managing employee | 2026-01 | ||
| Kile Magner | operational/managerial control | 2026-01 | ||
| Kristy Hansen | w-2 managing employee | 2013-02 | ||
| Kristy Hansen | operational/managerial control | 2013-02 | ||
| Michael Frederick | corporate director | 2022-05 | ||
| Shelby County Chris A Myrtue Memorial Hospital | operational/managerial control | 1966-01 | ||
| Terrance Torneten | corporate director | 2019-01 |
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 |