Pike Community Hospital
dba Adena Pike Medical Center ·
Waverly, Pike County, OH
· CCN 361334
Licensed to Pike Health Services, Inc
Composite
32.9
rank score
Distress
22
FY2023
Fit
58
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy 45-60%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $31.5M |
| Operating margin | 13.5% |
| Total margin | 17.3% |
| Days cash on hand | 8 |
| Current ratio | 3.29 |
| Occupancy | 58% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $23.3M | $1.5M | 4.5% | 6.2% | 27 | 1.24 | 46% | 278 | 28 |
| 2021 | 25 | $29.0M | $2.7M | 8.6% | 9.2% | 24 | 1.21 | 77% | 276 | 26 |
| 2022 | 25 | $27.8M | $1.1M | 0.6% | 3.8% | 27 | 1.79 | 69% | 343 | 29 |
| 2023 | 25 | $31.5M | $5.7M | 13.5% | 17.3% | 8 | 3.29 | 58% | 268 | 22 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adena Health System | 5% or greater direct ownership interest | 100 | 2012-03 | |
| Anthony Dixon | corporate director | 2015-02 | ||
| Anthony Fish | corporate director | 2009-04 | ||
| Constance Shelley | corporate director | 2012-08 | ||
| David Kessler | corporate director | 2014-01 | ||
| David Zanni | w-2 managing employee | 2014-11 | ||
| Donna Gregory | corporate director | 2017-09 | ||
| Joshua Remy | corporate director | 2017-09 | ||
| Judith Schmitt | corporate director | 2016-07 | ||
| Kim Roe | corporate director | 2021-05 | ||
| Lisa Carlson | corporate officer | 2017-06 | ||
| Lisa Carlson | w-2 managing employee | 2017-06 | ||
| Lisa Henness | w-2 managing employee | 2017-07 | ||
| Val Frances | corporate director | 2009-04 |
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 OH
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 |
|---|---|---|---|---|
| 2025-01-01 | Ohiohealth Morrow County Hospital Inc | Morrow County Hospital | Morrow County Hospital | 23 |
| 2021-05-02 | Adena Fayette Medical Center | Fayette County Memorial Hospital | Fayette County Memorial Hosp | 25 |
| 2019-10-01 | Adams County Regional Medical Center | Adams County Hospital | Adams County Regional Medical Center | 25 |