Paul Oliver Memorial Hospital
Frankfort, Benzie County, MI
· CCN 231300
Licensed to Paul Oliver Memorial Hospital
Composite
21.7
rank score
Distress
18
FY2024
Fit
34
vs thesis
Estimated ticket
$680K–$1.4M
8 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 90-150 days cash on hand
- occupancy below 30%
- rural — cheaper but limited density
- very small facility
- 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 | $25.5M |
| Operating margin | 1.5% |
| Total margin | 6.9% |
| Days cash on hand | 145 |
| Current ratio | 3.39 |
| Occupancy | 0% |
Facility
| Beds | 8 |
| 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 | 8 | $21.7M | $-257K | -0.4% | -1.2% | 62 | 2.27 | 5% | 10 | 42 |
| 2022 | 8 | $23.9M | $3.4M | 3.4% | 12.9% | 129 | 3.10 | 7% | 13 | 13 |
| 2023 | 8 | $23.4M | $287K | -5.2% | 1.2% | 110 | 2.96 | 2% | 18 | 39 |
| 2024 | 8 | $25.5M | $1.9M | 1.5% | 6.9% | 145 | 3.39 | 0% | 4 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Munson Healthcare | 5% or greater direct ownership interest | 100 | 1985-08 | |
| Munson Healthcare | operational/managerial control | 100 | 1985-08 | |
| Andrew Page | corporate officer | 2024-01 | ||
| Brian Postma | corporate director | 2022-01 | ||
| Bruce Zenner | corporate director | 2022-01 | ||
| Claudia Rowland | corporate director | 2026-01 | ||
| David Menegebier | corporate officer | 2024-01 | ||
| Dino Recchia | corporate officer | 2024-01 | ||
| Edward Lanphier | corporate director | 2026-01 | ||
| Edwin Ness | corporate director | 2022-01 | ||
| Elaine Wood | corporate director | 2022-01 | ||
| Jennifer King | corporate officer | 2024-01 | ||
| Kathy Dixon | corporate director | 2022-01 | ||
| Kenneth Bloem | corporate director | 2022-01 | ||
| Kristine Thomas | corporate director | 2022-01 | ||
| Mary Sanders | corporate director | 2022-01 | ||
| Owen Roberts | corporate director | 2022-01 | ||
| Paul Konopacki | corporate officer | 2024-01 | ||
| Paul Konopacki | w-2 managing employee | 2024-01 | ||
| Paul Konopacki | operational/managerial control | 2024-01 | ||
| Peter Marinoff | corporate officer | 2024-01 | ||
| Peter Marinoff | w-2 managing employee | 2024-01 | ||
| Peter Marinoff | operational/managerial control | 2024-01 | ||
| Ruth Hoppe | corporate director | 2022-01 | ||
| Sakura Takano | corporate director | 2022-01 |
Showing 25 of 28. Full list via /api/targets/231300.
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.