Norton County Hospital
Norton, Norton County, KS
· CCN 171348
Licensed to Norton County Hospital
Composite
51.7
rank score
Distress
81
FY2024
Fit
38
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- debt above 85% of assets
- occupancy below 30%
- margin deteriorating
- 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 | $14.2M |
| Operating margin | -36.4% |
| Total margin | -12.0% |
| Days cash on hand | 19 |
| Current ratio | 2.09 |
| Occupancy | 11% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $12.0M | $-1.4M | -39.0% | -8.9% | 130 | 1.74 | 13% | 128 | 62 |
| 2022 | 25 | $14.2M | $-651K | -21.8% | -3.9% | 82 | 3.25 | 16% | 169 | 59 |
| 2023 | 25 | $13.1M | $-3.1M | -48.3% | -18.7% | 38 | 1.67 | 13% | 179 | 78 |
| 2024 | 25 | $14.2M | $-2.1M | -36.4% | -12.0% | 19 | 2.09 | 11% | 86 | 81 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kevin Faughnder | w-2 managing employee | 2024-01 | ||
| Kevin Faughnder | operational/managerial control | 2024-01 | ||
| Rechelle Horinek | w-2 managing employee | 2023-02 | ||
| Rechelle Horinek | operational/managerial control | 2023-02 |
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 |
|---|---|---|---|---|
| 2021-01-01 | Kiowa County Memorial Hospital | Great Plains Of Kiowa Co Inc | Kiowa County Memorial Hosptial | 15 |
| 2020-07-01 | Saint Lukes Hospital Of Allen County Inc | Allen County Kansas Hospital | Allen County Regional Hospital | 25 |
| 2019-12-09 | Hillsboro Hospital Llc | Cah Acquisition Company 5 Llc | Hillsboro Community Hospital | 15 |