Caldwell County Hospital
dba Caldwell Medical Center ·
Princeton, Caldwell County, KY
· CCN 181322
Licensed to Caldwell County Hospital, Inc
Composite
23.6
rank score
Distress
16
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 90-150 days cash on hand
- debt above 70% of assets
- occupancy below 30%
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $29.0M |
| Operating margin | 3.5% |
| Total margin | 10.9% |
| Days cash on hand | 110 |
| Current ratio | 5.66 |
| Occupancy | 17% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $21.7M | $2.6M | -5.8% | 10.2% | 317 | 2.18 | 27% | 186 | 39 |
| 2022 | 25 | $24.1M | $53.7K | -8.7% | 0.2% | 211 | 4.63 | 25% | 133 | 42 |
| 2023 | 25 | $23.8M | $4.3K | -14.0% | 0.0% | 199 | 5.50 | 19% | 111 | 48 |
| 2024 | 25 | $29.0M | $3.4M | 3.5% | 10.9% | 110 | 5.66 | 17% | 110 | 16 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charles Littlejohn | corporate director | 2011-07 | ||
| Douglas James | corporate officer | 2014-05 | ||
| Douglas James | w-2 managing employee | 2014-07 | ||
| Harold Odegaard | corporate officer | 2021-01 | ||
| Harold Odegaard | corporate director | 2021-01 | ||
| Harold Odegaard | w-2 managing employee | 2021-01 | ||
| Joni Maloney | corporate officer | 2014-05 | ||
| Nacy Butts | corporate officer | 2020-01 | ||
| Nacy Butts | corporate director | 2020-01 | ||
| Nacy Butts | w-2 managing employee | 2020-01 | ||
| Quorum Health Resources Llc | operational/managerial control | 2007-11 |
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 |