Sheridan Memorial Hospital
dba Sheridan Memorial Hospital Association Hospital ·
Plentywood, Sheridan County, MT
· CCN 271322
Licensed to Sheridan Memorial Hospital Association
Composite
34.8
rank score
Distress
47
FY2024
Fit
34
vs thesis
Estimated ticket
$1.6M–$3.2M
19 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- 60-90 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- 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 | $19.1M |
| Operating margin | -9.8% |
| Total margin | 6.2% |
| Days cash on hand | 74 |
| Current ratio | 2.51 |
| Occupancy | 16% |
Facility
| Beds | 19 |
| 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 | 19 | $12.2M | $2.1M | -15.4% | 12.9% | 171 | 1.78 | 14% | 103 | 37 |
| 2022 | 19 | $13.6M | $-655K | -18.6% | -4.2% | 105 | 2.42 | 19% | 109 | 53 |
| 2023 | 19 | $16.7M | $2.3M | -9.6% | 11.2% | 84 | 2.74 | 20% | 90 | 41 |
| 2024 | 19 | $19.1M | $1.4M | -9.8% | 6.2% | 74 | 2.51 | 16% | 99 | 47 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Athena Gardenier | w-2 managing employee | 2008-11 | ||
| Christopher Wiens | corporate director | 2023-02 | ||
| Donald Benson | corporate director | 2017-03 | ||
| Kody Nelson | corporate officer | 2021-08 | ||
| Kody Nelson | w-2 managing employee | 2021-08 | ||
| Laura Rusbult | w-2 managing employee | 1981-04 | ||
| Lexi Olson | corporate director | 2024-02 | ||
| Myrnette Miller | corporate director | 2014-01 | ||
| Nancy Jensen | corporate director | 2017-08 | ||
| Paul Hansen | corporate director | 2021-02 |
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 MT
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 |
|---|---|---|---|---|
| 2023-07-01 | Benefis Community Hospitals Inc | Chouteau County District Hospital | Bmrmc | 25 |
| 2022-07-01 | Liberty County Hospital And... | Liberty County Hospital And... | Logan Health Chester | 25 |
| 2021-06-01 | Logan Health - Conrad | Logan Health - Conrad | Logan Health Conrad | 20 |
| 2021-06-01 | Northern Rockies Medical Center Inc | Northern Rockies Medical Center Inc | Logan Health Cutbank | 25 |
| 2021-05-09 | Logan Health - Shelby | Toole County | Logan Health Shelby | 21 |
| 2016-07-01 | Pioneer Medical Center | County Of Sweet Grass | Pioneer Medical Center | 25 |
| 2016-07-01 | Barrett Hospital Development Corporation | Public Hospital District For... | Barrett Hospital And Healthcare | 18 |