Logan Health Conrad
dba Logan Health - Conrad ·
Conrad, Pondera County, MT
· CCN 271324
Licensed to Logan Health - Conrad
Composite
37.9
rank score
Distress
54
FY2023
Fit
34
vs thesis
Estimated ticket
$1.4M–$2.9M
20 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 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 · FY2023
| Net patient revenue | $16.0M |
| Operating margin | -19.5% |
| Total margin | -7.2% |
| Days cash on hand | 168 |
| Current ratio | 3.71 |
| Occupancy | 8% |
Facility
| Beds | 20 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 20 | $14.4M | $1.2M | -6.2% | 7.4% | 234 | 1.62 | 9% | 50 | 31 |
| 2021 | 20 | $5.7M | $1.5M | -12.4% | 18.7% | 559 | 1.68 | 10% | 11 | 37 |
| 2022 | 20 | $12.9M | $3.0M | -12.4% | 16.9% | 224 | 2.10 | 12% | 32 | 37 |
| 2023 | 20 | $16.0M | $-1.3M | -19.5% | -7.2% | 168 | 3.71 | 8% | 41 | 54 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alice Gordon | corporate director | 2023-09 | ||
| Anna Robbins | operational/managerial control | 2023-07 | ||
| Bernard Ries | corporate director | 2008-07 | ||
| Brigid Burke | corporate officer | 2024-05 | ||
| Carole Jones | corporate director | 2021-12 | ||
| Clinton Seger | corporate officer | 2023-09 | ||
| Clinton Seger | corporate director | 2023-09 | ||
| Conrad Morren | corporate director | 2019-01 | ||
| Craig Bartholomew | corporate director | 2023-09 | ||
| Debbie Sturm | corporate director | 2015-06 | ||
| Ellen Layton | corporate officer | 2024-08 | ||
| Haley Denzer | corporate director | 2026-01 | ||
| Heidi Duncan | corporate director | 2023-09 | ||
| Jane Karas | corporate director | 2023-09 | ||
| Justin Ott | corporate officer | 2024-08 | ||
| Keith Cook | corporate director | 2023-09 | ||
| Melissa Kaptanian | corporate director | 2024-08 | ||
| Michael Goguen | corporate director | 2023-09 | ||
| Michelle Harris | corporate director | 2023-09 | ||
| Mtwy Health | 5% or greater direct ownership interest | 2022-06 | ||
| Mtwy Health | operational/managerial control | 2022-06 | ||
| Patti Pilgrim | corporate officer | 2025-01 | ||
| Sean Bengochea | corporate director | 2023-07 | ||
| Vicki Newmiller | corporate officer | 2023-10 | ||
| Vicki Newmiller | w-2 managing employee | 2023-10 |
Showing 25 of 26. Full list via /api/targets/271324.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-06-01 | change of ownership | Logan Health - Conrad | Logan Health - Conrad |
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 |