West River Regional Medical Center
Hettinger, Adams County, ND
· CCN 351330
Licensed to West River Health Services
Composite
36.7
rank score
Distress
45
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- 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 | $27.0M |
| Operating margin | -8.6% |
| Total margin | -1.3% |
| Days cash on hand | 153 |
| Current ratio | 4.47 |
| Occupancy | 24% |
Facility
| Beds | 25 |
| 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 | 25 | $25.6M | $3.1M | -4.0% | 10.4% | 135 | 2.16 | 25% | 412 | 29 |
| 2022 | 25 | $27.7M | $2.6M | -0.4% | 8.4% | 181 | 7.14 | 25% | 403 | 24 |
| 2023 | 25 | $24.4M | $-3.1M | -20.4% | -11.7% | 92 | 6.99 | 20% | 367 | 58 |
| 2024 | 25 | $27.0M | $-363K | -8.6% | -1.3% | 153 | 4.47 | 24% | 349 | 45 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alyson Freeland | corporate officer | 2022-10 | ||
| Alyson Freeland | w-2 managing employee | 2022-10 | ||
| Brett Henderson | corporate director | 2020-11 | ||
| Dave Erickson | corporate director | 2020-11 | ||
| Jonathon Eaton | corporate director | 2014-09 | ||
| Kurt Sargent | corporate officer | 2025-11 | ||
| Kurt Sargent | w-2 managing employee | 2025-11 | ||
| Lynn Brown | corporate director | 2018-09 | ||
| Troy Mosbrucker | corporate director | 2018-09 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.