Armstrong County Memorial
dba Acmh Hospital ·
Kittanning, Armstrong County, PA
· CCN 390163
Licensed to Armstrong County Memorial Hospital
Composite
57.2
rank score
Distress
60
FY2024
Fit
76
vs thesis
Estimated ticket
$28.1M–$112M
66 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size somewhat below the envelope
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $127M |
| Operating margin | -14.9% |
| Total margin | 3.8% |
| Days cash on hand | 14 |
| Current ratio | 1.11 |
| Occupancy | 47% |
Facility
| Beds | 66 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 129 | $104M | $12.6M | -19.7% | 9.2% | 42 | 1.66 | 32% | 3,010 | 50 |
| 2022 | 129 | $116M | $-3.3M | -28.7% | -2.3% | 30 | 1.50 | 39% | 2,805 | 58 |
| 2023 | 95 | $120M | $-7.2M | -27.0% | -4.9% | 11 | 1.01 | 44% | 2,833 | 71 |
| 2024 | 66 | $127M | $5.8M | -14.9% | 3.8% | 14 | 1.11 | 47% | 2,691 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Pennsylvania Mountains Care Network | 5% or greater direct ownership interest | 100 | 2024-07 | |
| April Miller | w-2 managing employee | 2024-04 | ||
| Chad Shaffer | corporate director | 2024-07 | ||
| Christina Lubold | corporate director | 2022-01 | ||
| David Reed | corporate director | 2026-01 | ||
| Frank Roberts | corporate director | 2023-11 | ||
| Hilliary Creely | corporate director | 2024-01 | ||
| James Martin | corporate director | 2023-11 | ||
| Kyle Lingenfelter | corporate director | 2026-01 | ||
| Laurie Kuzneski | corporate director | 2024-01 | ||
| Mary Krauland | corporate director | 2024-07 | ||
| Matthew Kociola | w-2 managing employee | 2019-03 | ||
| Michael Ickowski Sr | corporate director | 2023-06 | ||
| Michael Ickowski Sr | w-2 managing employee | 2023-06 | ||
| Nathan Kovalchick | corporate director | 2022-01 | ||
| Nichole Geraci | w-2 managing employee | 2023-07 | ||
| Rebecca Stapleton | corporate director | 2022-01 | ||
| Russell Drozdiak | corporate director | 2023-11 | ||
| Stephen Wolfe | corporate officer | 1999-02 | ||
| T Michael Price | corporate director | 2023-11 | ||
| T Simpson | corporate director | 2024-01 | ||
| Todd Brice | corporate director | 2022-01 | ||
| Wendell Davis | corporate director | 2024-07 |
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 PA
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 |
|---|---|---|---|---|
| 2025-01-21 | Tenor Health Foundation Sharon, Llc | Steward Sharon Regional Health System, Inc. | Sharon Regional Health System | 141 |
| 2023-09-02 | Chh Community Health | Chestnut Hill Hospital Llc | Chestnut Hill Hospital | 128 |
| 2023-07-01 | Valley Medical Facilities Inc | Valley Medical Facilities Inc | Heritage Valley Sewickley | 220 |
| 2022-05-09 | Lehigh Valley Hospital | Lehigh Valley Hospital -... | Lehigh Valley | 1,216 |
| 2021-07-01 | Dubois Regional Medical Center | Clearfield Hospital | Dubois Regional Medical Center | 261 |
| 2021-06-14 | Avenues Recovery Medical Center At... | Valley Forge Medical Center &... | Valley Forge Medical Center | 70 |
| 2021-01-01 | Robert Packer Hospital | Guthrie Towanda Memorial Hospital | Robert Packer Hospital | 252 |
| 2020-07-01 | St. Luke's Hospital- Easton Campus | Steward Easton Hospital, Inc | St Lukes Hospital - Easton Campus | 29 |
| 2018-05-26 | Lehigh Valley Hospital - Schuylkill | Schuylkill Medical Center - East... | Lehigh Valley Hospital - Schuylkill | 118 |
| 2017-07-01 | Upmc Carlisle | Carlisle Hma Llc | Upmc Carlisle | 66 |