James B Haggin Memorial Hospital
Harrodsburg, Mercer County, KY
· CCN 181302
Licensed to The James B Haggin Memorial Hospital Inc
Composite
36.5
rank score
Distress
41
FY2023
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- occupancy 30-45%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $35.5M |
| Operating margin | 13.7% |
| Total margin | 13.0% |
| Days cash on hand | 1 |
| Current ratio | 0.76 |
| Occupancy | 42% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $26.4M | $2.1M | 14.5% | 8.4% | 3 | 0.29 | 48% | 202 | 49 |
| 2021 | 25 | $29.4M | $2.2M | 4.0% | 7.4% | 0 | 0.36 | 66% | 267 | 47 |
| 2022 | 25 | $38.9M | $4.9M | 12.2% | 12.5% | 0 | 0.50 | 64% | 193 | 47 |
| 2023 | 25 | $35.5M | $4.6M | 13.7% | 13.0% | 1 | 0.76 | 42% | 119 | 41 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Daniel Mckay | corporate officer | 2019-01 | ||
| Daniel Mckay | w-2 managing employee | 2018-07 | ||
| Dennis Davis | corporate director | 2014-05 | ||
| Ephraim Mcdowell Health Inc | operational/managerial control | 2017-10 | ||
| Gregory Cobetto | corporate director | 2019-01 | ||
| James Dunn | corporate director | 2019-01 | ||
| Joetta Wickliffe | corporate director | 2007-10 | ||
| John Trisler | corporate director | 2019-01 | ||
| Kay Richardson | corporate director | 2019-01 | ||
| Lynne Lynn | corporate director | 2019-01 | ||
| Pete Chiericozzi | corporate director | 2007-10 | ||
| Thomas Jackson | corporate director | 2019-01 |
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 |
|---|---|---|---|---|
| 2024-04-01 | Bowling Green-Warren County... | The Medical Center At Clinton County Inc | The Medical Center Of Albany | 25 |
| 2024-04-01 | Bowling Green-Warren County... | The Medical Center At Franklin Inc | The Medical Center At Franklin | 25 |
| 2021-10-01 | Deaconess Union County Hospital, Inc | Methodist Health, Inc. | Deaconness Union County Hospital | 25 |
| 2018-07-01 | Arh Mary Breckinridge Health Services Inc | Saint Joseph Health System Inc | Our Lady Of The Way | 25 |
| 2016-01-01 | Bowling Green-Warren County... | Caverna Memorial Hospital Inc | The Medical Center At Caverna | 25 |