Mid-Columbia Medical Center
dba Adventist Health Columbia Gorge ·
The Dalles, Wasco County, OR
· CCN 380001
Licensed to Mid-Columbia Medical Center
Composite
55.6
rank score
Distress
79
FY2023
Fit
50
vs thesis
Estimated ticket
$3.4M–$6.9M
49 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- debt above 70% of assets
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $108M |
| Operating margin | -30.3% |
| Total margin | -17.4% |
| Days cash on hand | 11 |
| Current ratio | 1.70 |
| Occupancy | 35% |
Facility
| Beds | 49 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 43 | $119M | $5.8M | -12.2% | 4.1% | 88 | 1.60 | 42% | 1,658 | 43 |
| 2021 | 43 | $130M | $1.4M | -10.5% | 1.0% | 58 | 1.77 | 47% | 2,002 | 50 |
| 2022 | 44 | $123M | $-12.0M | -20.0% | -8.9% | 14 | 2.19 | 49% | 2,016 | 69 |
| 2023 | 49 | $108M | $-20.9M | -30.3% | -17.4% | 11 | 1.70 | 35% | 1,693 | 79 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Eric Stevens | corporate officer | 2025-03 | ||
| Kerry Heinrich | corporate officer | 2023-06 | ||
| Kyle King | contracted managing employee | 2024-04 | ||
| Kyle King | corporate officer | 2024-04 | ||
| Kyle King | w-2 managing employee | 2024-04 | ||
| Larry Innocent | corporate director | 2023-06 | ||
| Meredith Jobe | corporate officer | 2023-06 | ||
| Meredith Jobe | corporate director | 2023-06 | ||
| Meredith Jobe | w-2 managing employee | 2023-06 | ||
| Micah Smith | corporate officer | 2025-02 | ||
| Micah Smith | w-2 managing employee | 2025-02 | ||
| Richard Reiner | corporate director | 2023-06 | ||
| Stone Point Health | operational/managerial control | 2023-06 |
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 OR
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 |
|---|---|---|---|---|
| 2023-12-15 | Peacehealth | Peacehealth | Shmc-Riverbend | 354 |
| 2018-05-01 | Asante Ashland Community Hospital Llc | Ashland Community Healthcare Services | Ashland Community Hospital | 41 |