Big Horn Hospital
Hardin, Big Horn County, MT
· CCN 271338
Licensed to Big Horn Hospital Association
Composite
53.2
rank score
Distress
80
FY2024
Fit
43
vs thesis
Estimated ticket
$1.1M–$2.1M
18 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $14.1M |
| Operating margin | -27.2% |
| Total margin | -8.1% |
| Days cash on hand | 23 |
| Current ratio | 0.94 |
| Occupancy | 58% |
Facility
| Beds | 18 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 18 | $15.3M | $1.8M | -29.6% | 8.3% | 19 | 1.45 | 23% | 199 | 62 |
| 2022 | 18 | $13.8M | $-3.3M | -38.8% | -21.2% | 19 | 2.26 | 23% | 166 | 76 |
| 2023 | 18 | $12.8M | $-2.5M | -49.5% | -14.4% | 60 | 2.89 | 57% | 82 | 63 |
| 2024 | 18 | $14.1M | $-1.3M | -27.2% | -8.1% | 23 | 0.94 | 58% | 104 | 80 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ashley Quanbeck | corporate officer | 10 | 2025-02 | |
| Colleen Schaak | corporate director | 10 | 2013-04 | |
| James Seykora | corporate director | 10 | 1979-07 | |
| Larry Keltner | corporate officer | 10 | 2025-02 | |
| Larry Vandersloot | corporate director | 10 | 2019-01 | |
| Mathew Torske | corporate director | 10 | 2015-06 | |
| Nichole Mehling | corporate director | 10 | 2022-04 | |
| Sandra Morsey | corporate director | 10 | 2022-04 | |
| Terry Bullis | corporate director | 10 | 2002-06 | |
| Thor Torske | corporate director | 10 | 2013-06 | |
| Kristi Gatrell | corporate officer | 2014-09 | ||
| Roxanna Cain | corporate officer | 2003-12 | ||
| Roxanna Cain | w-2 managing employee | 2003-12 | ||
| Roxanna Cain | operational/managerial control | 2003-12 |
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 |