Manhattan Surgical Hospital
Manhattan, Riley County, KS
· CCN 170190
Licensed to Manhattan Surgical Hospital Llc
Composite
34.3
rank score
Distress
30
FY2023
Fit
52
vs thesis
Estimated ticket
$6.5M–$26.0M
13 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 30-60 days cash on hand
- debt above 85% of assets
- occupancy below 30%
- urban — higher occupancy and iteration surface
- very small facility
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $49.4M |
| Operating margin | 13.7% |
| Total margin | 13.9% |
| Days cash on hand | 38 |
| Current ratio | 1.75 |
| Occupancy | 12% |
Facility
| Beds | 13 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 13 | $36.1M | $4.0M | 8.7% | 10.7% | 95 | 1.58 | 24% | 805 | 21 |
| 2021 | 13 | $39.1M | $6.4M | 9.7% | 15.4% | 50 | 1.29 | 18% | 699 | 37 |
| 2022 | 13 | $42.0M | $5.5M | 13.1% | 13.2% | 43 | 2.34 | 13% | 507 | 33 |
| 2023 | 13 | $49.4M | $6.9M | 13.7% | 13.9% | 38 | 1.75 | 12% | 462 | 30 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Stormont-Vail Healthcare Inc | 5% or greater direct ownership interest | 49 | 2019-10 | |
| Msh Class A Holdings Llc | 5% or greater direct ownership interest | 41 | 2019-10 | |
| Msh Class B Holdings, Llc | 5% or greater direct ownership interest | 4 | 2019-10 | |
| Abigail Thomas | corporate director | 2021-01 | ||
| Adam Chase | general partnership interest | 2011-10 | ||
| Apostolos Evangelidis | general partnership interest | 2007-11 | ||
| Apostolos Evangelidis | corporate director | 2019-10 | ||
| Ashley Moore | general partnership interest | 2020-01 | ||
| Benjamin Pease | general partnership interest | 1998-09 | ||
| Brady Strahm | general partnership interest | 2020-10 | ||
| Brent Cummins | general partnership interest | 2018-06 | ||
| Brittani Roles | general partnership interest | 2005-09 | ||
| Bryce Palmgren | general partnership interest | 2007-11 | ||
| Christopher Storms | general partnership interest | 2010-07 | ||
| David Krasucki | general partnership interest | 2022-01 | ||
| David Pauls | general partnership interest | 1998-09 | ||
| Duane Smith | general partnership interest | 2006-01 | ||
| Eric Purdom | general partnership interest | 2011-01 | ||
| Felipe Rosso | general partnership interest | 2015-03 | ||
| Heidi Smith | general partnership interest | 2020-10 | ||
| Henry Doering | general partnership interest | 2011-10 | ||
| Henry Doering | corporate director | 2019-10 | ||
| Holly Stubbs | general partnership interest | 2021-01 | ||
| James Mcatee | general partnership interest | 1998-09 | ||
| James Mcatee | corporate director | 2019-10 |
Showing 25 of 47. Full list via /api/targets/170190.
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 |