Ashley Medical Center
Ashley, Mcintosh County, ND
· CCN 351322
Licensed to Ashley Medical Center
Composite
35.2
rank score
Distress
48
FY2024
Fit
34
vs thesis
Estimated ticket
$1.7M–$3.4M
20 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- 60-90 days cash on hand
- occupancy below 30%
- margin deteriorating
- 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 · FY2024
| Net patient revenue | $10.3M |
| Operating margin | -11.2% |
| Total margin | 15.1% |
| Days cash on hand | 76 |
| Current ratio | 5.84 |
| Occupancy | 18% |
Facility
| Beds | 20 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 20 | $6.5M | $2.0M | -33.1% | 18.9% | 216 | 2.47 | 8% | 58 | 37 |
| 2022 | 20 | $8.2M | $857K | -13.8% | 8.5% | 157 | 3.20 | 9% | 80 | 37 |
| 2023 | 20 | $9.2M | $183K | -14.0% | 1.7% | 91 | 5.52 | 12% | 87 | 44 |
| 2024 | 20 | $10.3M | $2.0M | -11.2% | 15.1% | 76 | 5.84 | 18% | 41 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Angela Bertsch | corporate director | 10 | 2023-10 | |
| Anthony Neu | corporate officer | 10 | 2017-10 | |
| Brenda Meyer | corporate director | 10 | 2016-10 | |
| Brent Ulmer | corporate director | 10 | 2024-10 | |
| Gwyn Schumacher | corporate director | 10 | 2024-10 | |
| Joanne Stugelmayer | corporate director | 10 | 2019-05 | |
| Kristie Morrison | corporate director | 10 | 2022-02 | |
| Megan Thomas | corporate director | 10 | 2020-10 | |
| Eric Heupel | w-2 managing employee | 5 | 2019-04 | |
| Adam Wishek | corporate director | 2022-10 | ||
| Corey Ulmer | corporate officer | 2023-07 | ||
| Corey Ulmer | w-2 managing employee | 2023-07 | ||
| Eric Heupel | corporate officer | 2019-04 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.