Mercy Regional Health Center
Manhattan, Riley County, KS
· CCN 170142
Licensed to Ascension Via Christi Hospital Manhattan Inc
Composite
37.1
rank score
Distress
38
FY2024
Fit
50
vs thesis
Estimated ticket
$8.6M–$17.2M
86 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $98.5M |
| Operating margin | 2.1% |
| Total margin | 4.3% |
| Days cash on hand | 1 |
| Current ratio | 1.10 |
| Occupancy | 38% |
Facility
| Beds | 86 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 86 | $85.6M | $17.5M | -7.5% | 15.9% | 10 | 0.55 | 44% | 3,340 | 63 |
| 2022 | 86 | $91.0M | $19.1M | -2.9% | 17.0% | 1 | 0.58 | 46% | 3,273 | 53 |
| 2023 | 84 | $95.8M | $7.2M | 0.8% | 7.0% | 1 | 1.19 | 43% | 3,181 | 38 |
| 2024 | 86 | $98.5M | $4.3M | 2.1% | 4.3% | 1 | 1.10 | 38% | 3,212 | 38 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ascension Health | 5% or greater indirect ownership interest | 100 | 2014-03 | |
| Ascension Via Christi Health Inc | 5% or greater direct ownership interest | 100 | 2014-03 | |
| Robert Copple | operational/managerial control | 100 | 2016-05 | |
| Carla Yost | corporate director | 2022-05 | ||
| Dirk Daveline | corporate director | 2018-07 | ||
| Gregory Welle | corporate director | 2018-07 | ||
| Janet Leduc | corporate director | 2022-05 | ||
| John Armbrust | corporate director | 2015-07 | ||
| Katie Seay | corporate director | 2022-05 | ||
| Kelly Ivester | corporate director | 2022-05 | ||
| Mark Wilkerson | corporate director | 2018-07 | ||
| Matthew Floersch | corporate director | 2018-07 | ||
| Merl Page | corporate director | 2022-05 | ||
| Michael Mccullough | corporate director | 2018-07 | ||
| Robert Copple | corporate officer | 2016-05 | ||
| Robert Copple | corporate director | 2016-05 | ||
| Ryan Knopp | corporate director | 2022-05 | ||
| Sarah Barrett | corporate director | 2018-07 | ||
| Stephanie Shaffer | w-2 managing employee | 2019-01 | ||
| Sue Unruh | corporate director | 2015-07 | ||
| Todd Conklin | corporate director | 2016-07 |
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 KS
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 |
|---|---|---|---|---|
| 2024-09-01 | Mercy Hospital Pittsburg Inc | Ascension Via Christi Hospital... | Via Christi Hospital Pittsburg Inc. | 64 |
| 2023-08-26 | South Central Kansas Regional... | South Central Kansas Regional... | South Central Ks Regional Medical Ct | — |
| 2023-01-01 | Stormont Vail Health Flint Hills Llc | Geary County Hospital | Stormont Vail - Flint Hills | 43 |
| 2022-05-01 | Commonspirit Kansas Inc | Dodge City Healthcare Group Llc | St. Catherine Hospital - Dodge City | 99 |
| 2020-01-26 | Mercy Specialty Hospital Southeast Kansas | City Of Galena-Kansas | Mercy Specialty Hospital - Southeast | 26 |
| 2019-05-01 | Adventhealth Ransom Memorial Inc | Ransom Memorial Hospital | Adventhealth Ottawa | 36 |
| 2018-08-01 | Ukhs Great Bend Llc | Great Bend Regional Hospital Llc | Ukhs Great Bend Campus | 29 |