Cleveland Area Hospital
Cleveland, Pawnee County, OK
· CCN 371320
Licensed to Cleveland Area Hospital Holdings Inc
Composite
32.8
rank score
Distress
39
FY2023
Fit
38
vs thesis
Estimated ticket
$1.2M–$2.4M
14 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- 60-90 days cash on hand
- occupancy 30-45%
- 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 | $20.0M |
| Operating margin | -14.3% |
| Total margin | 12.0% |
| Days cash on hand | 81 |
| Current ratio | 2.93 |
| Occupancy | 41% |
Facility
| Beds | 14 |
| 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 | 14 | $14.3M | $298K | -22.1% | 1.7% | 151 | 1.27 | 45% | 51 | 51 |
| 2021 | 14 | $16.0M | $4.2M | -10.8% | 19.3% | 138 | 1.24 | 42% | 49 | 46 |
| 2022 | 14 | $20.0M | $4.5M | 3.9% | 19.0% | 87 | 2.52 | 41% | 40 | 16 |
| 2023 | 14 | $20.0M | $3.1M | -14.3% | 12.0% | 81 | 2.93 | 41% | 39 | 39 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cleveland Area Hospital Authority | 5% or greater direct ownership interest | 100 | 2009-01 | |
| Cleveland Area Hospital Authority | operational/managerial control | 100 | 2009-01 | |
| Amanda Harmon | corporate director | 2018-02 | ||
| Charlotte Sellers | corporate director | 2018-02 | ||
| Don Speicher | corporate director | 2019-01 | ||
| Edred Benton | corporate officer | 2016-01 | ||
| Edred Benton | w-2 managing employee | 2016-01 | ||
| Fred Taylor | corporate director | 2016-01 | ||
| Janice Evans | corporate director | 2017-06 | ||
| Jason Moss | corporate officer | 2020-05 | ||
| Mary Johnson | corporate director | 2016-01 | ||
| Mary Thornton | w-2 managing employee | 2017-01 | ||
| Mike Vaughn | corporate director | 2021-09 | ||
| Nathan Langford | w-2 managing employee | 2014-11 | ||
| Nicole Lake | w-2 managing employee | 2023-08 | ||
| Rebecca Thornton | w-2 managing employee | 2012-12 | ||
| Sabrina Aldridge | w-2 managing employee | 2013-09 |
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 OK
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 |
|---|---|---|---|---|
| 2021-11-01 | Rural Wellness Anadarko Inc | Rha Anadarko Inc | Physicians Hospital At Anadarko | 25 |
| 2021-11-01 | Rural Wellness Stroud Inc | Rha Stroud, Inc | Stroud Regional Medical Center | 25 |
| 2020-12-31 | Prague Healthcare Authority | Trancendental Union With Love And... | Prague Community Hospital | 25 |
| 2020-05-15 | Haskell Regional Hospital Inc | Cah Acquisition Company 16 Llc | Haskell Regional Hospital | 25 |
| 2020-04-13 | Drumright Community Hospital Llc | Cah Acquisition Company 4, Inc | Drumright Regional Hospital | 15 |
| 2020-03-20 | Rural Wellness Fairfax Inc | Cah Acquisition Company 12 Llc | Fairfax Community Hospital | 25 |
| 2019-04-05 | Memorial Hospital Of Texas County Authority | Srp Guymon Llc | Memorial Hospital Of Texas County | 6 |
| 2019-03-01 | Jackson County Memorial Hospital Authority | Harmon County Healthcare Authority | Harmon Memorial Hospital | 22 |
| 2017-06-30 | Mangum City Hospital Authority | Blackhawk Mangum Llc | Mangum Regional Medical Center | 18 |