Flaget Memorial Hospital
dba Chi Saint Joseph Health - Flaget Memorial Hospital ·
Bardstown, Nelson County, KY
· CCN 180025
Licensed to Flaget Healthcare Inc
Composite
30.5
rank score
Distress
9
FY2024
Fit
66
vs thesis
Estimated ticket
$20.0M–$80.0M
40 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- small but workable bed count
- ticket size somewhat below the envelope
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $101M |
| Operating margin | 10.4% |
| Total margin | 13.5% |
| Days cash on hand | 144 |
| Current ratio | 4.22 |
| Occupancy | 44% |
Facility
| Beds | 40 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 40 | $77.4M | $5.4M | 2.6% | 6.7% | 628 | 6.41 | 44% | 1,747 | 6 |
| 2022 | 40 | $90.6M | $14.0M | 10.0% | 14.7% | 637 | 12.00 | 50% | 1,694 | 2 |
| 2023 | 40 | $86.2M | $4.4M | -0.6% | 4.8% | 64 | 6.83 | 37% | 1,504 | 31 |
| 2024 | 40 | $101M | $14.1M | 10.4% | 13.5% | 144 | 4.22 | 44% | 1,888 | 9 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Commonspirit Health | 5% or greater indirect ownership interest | 100 | 1997-09 | |
| Flaget Healthcare Inc | 5% or greater indirect ownership interest | 100 | 1999-04 | |
| Kentuckyone Health Inc | 5% or greater direct ownership interest | 100 | 2012-01 | |
| Adeline Fehribach | corporate director | 2022-01 | ||
| Christy Spitser | corporate officer | 2015-01 | ||
| Christy Spitser | w-2 managing employee | 2015-01 | ||
| Daniel Rodrigue | corporate director | 2022-01 | ||
| Daryl Love | corporate director | 2025-07 | ||
| Donald Hearne | corporate officer | 2025-07 | ||
| Granetta Blevins | corporate director | 2025-07 | ||
| Jane Chiles | corporate director | 2012-01 | ||
| Kim Potter-Blair | corporate director | 2022-01 | ||
| Martha Jones | corporate director | 2013-07 | ||
| Mary-Alicha Weldon | corporate director | 2022-01 | ||
| Matthew Brown | corporate officer | 2025-07 | ||
| Matthew Brown | corporate director | 2025-07 | ||
| Matthew Grimshaw | corporate director | 2025-07 | ||
| Melissa Murphy | corporate director | 2022-01 | ||
| Monica Kennison | corporate director | 2025-07 | ||
| Terika Mbanu | corporate director | 2025-07 | ||
| Thomas Kopfensteiner | corporate director | 2025-07 | ||
| Winston Griffin | corporate director | 2022-01 |
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 KY
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 |
|---|---|---|---|---|
| 2024-07-01 | Bowling Green-Warren County... | Logan Memorial Hospital Llc | Logan Memorial Hospital | 37 |
| 2021-12-01 | Arh Tug Valley Health Services Inc | Paintsville Hospital Company Llc | Paintsville Arh Hospital | 39 |
| 2021-01-01 | Owensboro Health Twin Lakes... | Grayson County Hospital Foundation Inc | Owensboro Health Twin Lakes Medical | 49 |
| 2020-09-01 | Baptist Healthcare System Inc | Hardin Memorial Hospital | Baptist Health Hardin | 271 |
| 2019-11-01 | Uofl Health-Louisville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Louisville | 789 |
| 2019-11-01 | Uofl Health-Shelbyville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Shelbyville | 32 |
| 2019-09-01 | Baptist Healthcare System Inc | Baptist Health Richmond Inc | Baptist Health Richmond | 53 |
| 2019-08-01 | Arh Tug Valley Health Services Inc | Highlands Hospital Corp | Highlands Regional Medical Center | 63 |
| 2016-02-11 | T J Health Columbia Inc | Adair County Hospital District | Tj Health Columbia | 49 |