Merrick Medical Center
Central City, Merrick County, NE
· CCN 281328
Licensed to Merrick Medical Center
Composite
32.8
rank score
Distress
35
FY2023
Fit
38
vs thesis
Estimated ticket
$510K–$1.0M
6 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- occupancy 30-45%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $22.4M |
| Operating margin | -9.9% |
| Total margin | 8.0% |
| Days cash on hand | 193 |
| Current ratio | 5.11 |
| Occupancy | 41% |
Facility
| Beds | 6 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 20 | $14.9M | $3.8M | -4.1% | 19.6% | 191 | 1.64 | 11% | 128 | 24 |
| 2021 | 20 | $18.5M | $5.9M | 2.0% | 22.1% | 189 | 3.45 | 12% | 153 | 16 |
| 2022 | 5 | $21.3M | $-1.5M | -17.1% | -6.4% | 58 | 3.70 | 23% | 181 | 66 |
| 2023 | 6 | $22.4M | $2.1M | -9.9% | 8.0% | 193 | 5.11 | 41% | 335 | 35 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Blake Cover | corporate director | 2024-01 | ||
| Blake Cover | w-2 managing employee | 2024-01 | ||
| Blake Cover | operational/managerial control | 2024-01 | ||
| Bryan Health | operational/managerial control | 2017-03 | chain | |
| Jodi Mohr | corporate officer | 2024-06 | ||
| Jodi Mohr | corporate director | 2024-06 | ||
| Jodi Mohr | w-2 managing employee | 2024-06 | ||
| Jodi Mohr | operational/managerial control | 2024-06 | ||
| Nathan Perry | corporate officer | 2023-02 | ||
| Nathan Perry | corporate director | 2023-02 | ||
| Patrick Ganyo | corporate officer | 2023-02 | ||
| Patrick Ganyo | corporate director | 2021-02 | ||
| Richard Lloyd | corporate director | 2023-09 | ||
| Shannon Hannappel | corporate officer | 2021-02 | ||
| Shannon Hannappel | corporate director | 2018-12 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.