Chi Health Midlands
Papillion, Sarpy County, NE
· CCN 280105
Licensed to Alegent Creighton Health
Composite
59.6
rank score
Distress
79
FY2024
Fit
60
vs thesis
Estimated ticket
$9.8M–$39.2M
28 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $46.9M |
| Operating margin | -12.8% |
| Total margin | -2.5% |
| Days cash on hand | 0 |
| Current ratio | -0.41 |
| Occupancy | 33% |
Facility
| Beds | 28 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 28 | $37.4M | $3.0M | -6.5% | 7.0% | 2 | -0.19 | 33% | 797 | 63 |
| 2022 | 28 | $39.0M | $-406K | -9.3% | -1.0% | 1 | -0.12 | 33% | 906 | 71 |
| 2023 | 28 | $40.8M | $-2.3M | -18.8% | -5.0% | 3 | -0.26 | 29% | 894 | 84 |
| 2024 | 28 | $46.9M | $-1.3M | -12.8% | -2.5% | 0 | -0.41 | 33% | 1,050 | 79 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chi Nebraska | 5% or greater direct ownership interest | 100 | 2013-08 | |
| Commonspirit Health | 5% or greater indirect ownership interest | 100 | 2013-08 | |
| Daniel Morissette | other | 2023-09 | ||
| Dave Taylor | corporate director | 2022-10 | ||
| Evert Kuiper | corporate director | 2022-01 | ||
| Evert Kuiper | operational/managerial control | 2022-01 | ||
| Heather Morgan | corporate director | 2020-07 | ||
| John Petersdorf | corporate director | 2021-01 | ||
| Kathryne Cutler | corporate director | 2023-07 | ||
| Kelly Bacon | corporate director | 2021-07 | ||
| Kevin Fitzgerald | corporate director | 2021-07 | ||
| Kevin Miller | contracted managing employee | 2017-04 | ||
| Kirtibala Gupta | corporate director | 2021-07 | ||
| Leo Searcey | corporate director | 2022-10 | ||
| Mardell Wilson | corporate director | 2020-10 | ||
| Maurita Soukup | corporate director | 2017-07 | ||
| Nadine Heimann | corporate director | 2019-07 | ||
| Nick O'tool | corporate officer | 2023-07 | ||
| Nick O'tool | operational/managerial control | 2023-01 | ||
| Tim Bricker | corporate officer | 2023-07 | ||
| Tim Bricker | corporate director | 2023-07 | ||
| William Barney | corporate director | 2020-07 |
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 NE
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 |
|---|---|---|---|---|
| 2022-01-01 | Bryan Hospital Kearney | Kearney Regional Medical Center Llc | Kearney Regional Medical Center | 93 |
| 2018-10-01 | Methodist Fremont Health | Fremont Health | Methodist Fremont Health | 50 |