Cordell Memorial Hospital
Cordell, Washita County, OK
· CCN 371325
Licensed to Cordell Memorial Hospital 0189
Composite
31.8
rank score
Distress
43
FY2024
Fit
31
vs thesis
Estimated ticket
$1.2M–$2.4M
14 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- 90-150 days cash on hand
- occupancy below 30%
- margin slipping
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $7.2M |
| Operating margin | -14.4% |
| Total margin | 2.0% |
| Days cash on hand | 121 |
| Current ratio | 6.44 |
| Occupancy | 17% |
Facility
| Beds | 14 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 | 14 | $4.4M | $189K | -28.2% | 3.2% | 318 | 3.35 | 17% | 125 | 37 |
| 2022 | 14 | $4.9M | $869K | -20.3% | 12.7% | 207 | 4.65 | 14% | 115 | 37 |
| 2023 | 14 | $5.9M | $176K | -19.6% | 2.4% | 121 | 7.97 | 14% | 139 | 41 |
| 2024 | 14 | $7.2M | $166K | -14.4% | 2.0% | 121 | 6.44 | 17% | 130 | 43 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ssm Health Care Of Oklahoma, Inc. | operational/managerial control | 100 | 2020-04 | |
| Cheryl Putman | w-2 managing employee | 2020-04 | ||
| Cordell Memorial Hospital 0189 | 5% or greater direct ownership interest | 2003-12 | ||
| Georganna Buss | contracted managing employee | 2021-05 | ||
| Georganna Buss | operational/managerial control | 2021-05 | ||
| Janice Williams | corporate director | 1993-10 | ||
| Keith Gerlach | corporate director | 2019-12 | ||
| Marla Harper | other | 2022-05 | ||
| Melinda Laird | contracted managing employee | 2021-04 |
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 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 |