Sullivan County Memorial Hospital
Milan, Sullivan County, MO
· CCN 261306
Licensed to Sullivan County Memorial Hospital
Composite
52.2
rank score
Distress
75
FY2023
Fit
46
vs thesis
Estimated ticket
$1.0M–$2.0M
17 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $9.7M |
| Operating margin | -26.3% |
| Total margin | -12.8% |
| Days cash on hand | 8 |
| Current ratio | 1.12 |
| Occupancy | 53% |
Facility
| Beds | 17 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 18 | $7.6M | $-102K | -21.9% | -1.1% | 182 | 1.02 | 45% | 99 | 52 |
| 2021 | 21 | $8.5M | $2.9M | -21.7% | 21.9% | 58 | 1.59 | 23% | 101 | 53 |
| 2022 | 18 | $9.5M | $-238K | -17.0% | -2.2% | 54 | 1.25 | 39% | 85 | 61 |
| 2023 | 17 | $9.7M | $-1.4M | -26.3% | -12.8% | 8 | 1.12 | 53% | 100 | 75 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Amy Michael | corporate officer | 80 | 2009-09 | |
| Amy Michael | w-2 managing employee | 80 | 2009-09 | |
| Amy Michael | operational/managerial control | 80 | 2009-09 | |
| Martha Gragg | corporate officer | 2023-03 | ||
| Martha Gragg | w-2 managing employee | 2023-03 | ||
| Martha Gragg | operational/managerial control | 2023-03 |
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 MO
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 |
|---|---|---|---|---|
| 2023-10-01 | Mercy Hospital Perry | Perry County Health System | Perry County Memorial Hospital | 25 |