Cass County Memorial Hospital
Atlantic, Cass County, IA
· CCN 161376
Licensed to Cass County Memorial Hospital
Composite
23.1
rank score
Distress
14
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%
- 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 | $77.7M |
| Operating margin | 4.3% |
| Total margin | 13.8% |
| Days cash on hand | 64 |
| Current ratio | 3.45 |
| Occupancy | 44% |
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 | $51.4M | $5.9M | -13.1% | 9.3% | 218 | 4.56 | 42% | 704 | 33 |
| 2022 | 25 | $61.4M | $3.4M | -4.0% | 5.0% | 204 | 4.45 | 42% | 841 | 21 |
| 2023 | 25 | $64.0M | $6.0M | -7.1% | 8.1% | 98 | 3.46 | 42% | 876 | 32 |
| 2024 | 25 | $77.7M | $11.9M | 4.3% | 13.8% | 64 | 3.45 | 44% | 783 | 14 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brett Altman | corporate officer | 2017-01 | ||
| Brett Altman | w-2 managing employee | 2017-01 | ||
| Brett Altman | operational/managerial control | 2017-01 | ||
| Joanne Lorence | corporate director | 2016-07 | ||
| Julia Pollock | corporate director | 2013-01 | ||
| Kolton Hewlett | corporate officer | 2023-12 | ||
| Kolton Hewlett | w-2 managing employee | 2023-12 | ||
| Leanne Pellett | corporate director | 2009-01 | ||
| Linda Pelzer | corporate director | 2019-11 | ||
| Michael Klocke | corporate director | 2017-01 | ||
| Nathan Brown | corporate director | 2009-03 | ||
| Roger Herring | corporate director | 2013-01 |
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 |