Eaton Rapids Medical Center
Eaton Rapids, Eaton County, MI
· CCN 231324
Licensed to Eaton Rapids Medical Center
Composite
24.1
rank score
Distress
18
FY2024
Fit
40
vs thesis
Estimated ticket
$1.7M–$3.4M
20 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 90-150 days cash on hand
- occupancy below 30%
- urban — higher occupancy and iteration surface
- 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 | $40.3M |
| Operating margin | 1.7% |
| Total margin | 7.6% |
| Days cash on hand | 112 |
| Current ratio | 3.93 |
| Occupancy | 23% |
Facility
| Beds | 20 |
| Facility type | CAH |
| Setting | urban |
| 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 | 20 | $31.1M | $2.5M | -11.9% | 6.7% | 157 | 2.36 | 14% | 236 | 37 |
| 2022 | 20 | $33.7M | $2.4M | -5.4% | 6.4% | 144 | 4.18 | 18% | 278 | 36 |
| 2023 | 20 | $34.8M | $361K | -4.0% | 1.0% | 140 | 3.46 | 19% | 234 | 32 |
| 2024 | 20 | $40.3M | $3.2M | 1.7% | 7.6% | 112 | 3.93 | 23% | 211 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ashok Gupta | corporate director | 2007-10 | ||
| Shari Glynn | corporate officer | 2010-10 | ||
| Shari Glynn | w-2 managing employee | 2010-10 | ||
| Thomas Kelly | corporate director | 2011-03 | ||
| Timothy Johnson | corporate officer | 2010-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.