Logan Memorial Hospital
dba The Medical Center At Russellville ·
Russellville, Logan County, KY
· CCN 180066
Licensed to Bowling Green-Warren County Community Hospital Corporation
Already transacted. CMS recorded an ownership change effective
2024-07-01. Confirm the current owner before spending a call on this.
Composite
19.8
rank score
Distress
78
FY2024
Fit
49
vs thesis
Estimated ticket
$2.6M–$5.2M
37 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- 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
- for-profit — no charitable conversion review
- changed ownership 2024-07-01 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $29.0M |
| Operating margin | -20.1% |
| Total margin | -18.8% |
| Days cash on hand | 7 |
| Current ratio | 6.07 |
| Occupancy | 15% |
Facility
| Beds | 37 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 37 | $21.9M | $3.0M | -6.2% | 11.4% | 0 | 0.80 | 19% | 456 | 62 |
| 2022 | 75 | $22.4M | $-2.2M | -13.0% | -9.5% | 0 | 1.72 | 9% | 482 | 76 |
| 2023 | 37 | $22.1M | $259K | 0.2% | 1.2% | 47 | 6.47 | 13% | 386 | 36 |
| 2024 | 37 | $29.0M | $-5.5M | -20.1% | -18.8% | 7 | 6.07 | 15% | 398 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Commonwealth Health Corporation, Inc. | 5% or greater direct ownership interest | 100 | 2024-07 | chain |
| Cathy Bishop | corporate director | 2024-07 | ||
| Connie Smith | corporate officer | 2024-07 | ||
| Connie Smith | w-2 managing employee | 2024-07 | ||
| David Gray | corporate officer | 2024-07 | ||
| David Gray | w-2 managing employee | 2024-07 | ||
| Donna Blackburn | corporate director | 2024-07 | ||
| Douglas Thomson | corporate director | 2024-07 | ||
| Eli Jackson | corporate director | 2024-07 | ||
| Jackie Pope-Tarrence | corporate director | 2024-07 | ||
| Janet Johnson | corporate director | 2024-07 | ||
| Joe Natcher | corporate director | 2024-07 | ||
| Katrina Wood | corporate officer | 2024-07 | ||
| Katrina Wood | w-2 managing employee | 2024-07 | ||
| Michael Thurmond | corporate director | 2024-07 | ||
| Michele Lawless | corporate officer | 2024-07 | ||
| Michele Lawless | w-2 managing employee | 2024-07 | ||
| Mohammed Kazimuddin | corporate director | 2024-07 | ||
| Paul Cook | corporate director | 2024-07 | ||
| Thomas Loving | corporate director | 2024-07 | ||
| Wade Stone | corporate officer | 2024-07 | ||
| Wade Stone | w-2 managing employee | 2024-07 | ||
| William Borders | w-2 managing employee | 2024-07 | ||
| William Moss | corporate director | 2024-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2024-07-01 | change of ownership | Bowling Green-Warren County... | Logan Memorial Hospital Llc |
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 |