Chenango Memorial Hospital
Norwich, Chenango County, NY
· CCN 330033
Licensed to Chenango Memorial Hospital Inc
Composite
37.6
rank score
Distress
44
FY2023
Fit
44
vs thesis
Estimated ticket
$5.8M–$11.6M
58 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- 60-90 days cash on hand
- current ratio under 1.5
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- 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 | $90.0M |
| Operating margin | -0.5% |
| Total margin | 4.0% |
| Days cash on hand | 73 |
| Current ratio | 1.38 |
| Occupancy | 19% |
Facility
| Beds | 58 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 58 | $63.1M | $7.6M | -17.2% | 9.3% | 70 | 0.92 | 16% | 929 | 56 |
| 2021 | 58 | $74.9M | $4.7M | -0.9% | 5.8% | 79 | 1.09 | 19% | 1,032 | 38 |
| 2022 | 58 | $80.0M | $2.0M | -6.2% | 2.3% | 57 | 1.21 | 22% | 1,038 | 51 |
| 2023 | 58 | $90.0M | $3.8M | -0.5% | 4.0% | 73 | 1.38 | 19% | 1,056 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Barbara Schindler | corporate director | 2024-04 | ||
| Bruce Erath | corporate director | 2015-06 | ||
| Cecil Miller | contracted managing employee | 2025-04 | ||
| Cecil Miller | corporate director | 2025-04 | ||
| Elizabeth Boland | corporate director | 2018-01 | ||
| Eric Larsen | corporate director | 2015-06 | ||
| James Smith | corporate director | 2022-01 | ||
| John Carrigg | corporate director | 2015-06 | ||
| Joseph Stagliano | corporate director | 2019-06 | ||
| Julianne Oehlbeck | corporate director | 2019-06 | ||
| Kurt Harding | corporate director | 2024-06 | ||
| Luke Hess-Murphy | corporate director | 2023-06 | ||
| Martin Masarech | corporate director | 2019-06 | ||
| Robert Nassar | corporate director | 2015-06 | ||
| Rohan Jayasena | corporate director | 2025-08 | ||
| Shaunastar Hyle | corporate director | 2022-01 |
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 NY
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 |
|---|---|---|---|---|
| 2025-03-01 | Nyu Langone Hospitals | Brookhaven Memorial Hospital... | Long Island Community Hospital | 157 |
| 2022-10-01 | The New York And Presbyterian Hospital | Newyork-Presbyterian... | New York Presbyterian Hospital | 2,850 |
| 2021-02-27 | New York City Health And Hospitals... | New York City Health And Hospitals... | Jacobi Medical Center | 440 |
| 2021-01-01 | The Brookdale Hospital Medical Center | Kingsbrook Jewish Medical Center | Brookdale Hospital Medical Center | 450 |
| 2020-10-01 | Samaritan Hospital Of Troy, New York | Burdett Care Center, Inc. | Samaritan Hospital | 252 |
| 2020-09-23 | Healthalliance Hospital Marys Avenue Campus | Healthalliance Hospital Broadway Campus | Healthalliance Hospital Marys Ave Ca | 111 |
| 2020-01-01 | Samaritan Hospital Of Troy, New York | Memorial Hospital, Albany N.y. | Samaritan Hospital | 252 |
| 2019-07-01 | University Hospital At Stony Brook | Eastern Long Island Hospital Assoc Inc | Stony Brook University Hospital | 725 |
| 2019-01-01 | Samaritan Hospital Of Troy, New York | Seton Health System, Inc | Samaritan Hospital | 252 |
| 2016-01-14 | Long Island Jewish Medical Center | Forest Hills Hospital | Long Island Jewish Medical Center | 1,153 |