Madison Regional Health System
Madison, Lake County, SD
· CCN 431300
Licensed to Madison Community Hospital
Composite
29.4
rank score
Distress
27
FY2024
Fit
43
vs thesis
Estimated ticket
$1.9M–$3.7M
22 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 60-90 days cash on hand
- occupancy 45-60%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $34.6M |
| Operating margin | 1.0% |
| Total margin | 8.2% |
| Days cash on hand | 85 |
| Current ratio | 3.92 |
| Occupancy | 47% |
Facility
| Beds | 22 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 22 | $29.4M | $9.0M | 0.1% | 23.4% | 320 | 6.89 | 44% | 422 | 12 |
| 2022 | 22 | $31.9M | $1.4M | -1.3% | 4.2% | 241 | 6.85 | 43% | 459 | 21 |
| 2023 | 22 | $33.8M | $1.4M | -1.6% | 3.9% | 148 | 4.21 | 55% | 500 | 22 |
| 2024 | 22 | $34.6M | $3.1M | 1.0% | 8.2% | 85 | 3.92 | 47% | 445 | 27 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Betty Vanderwerff | corporate director | 2019-12 | ||
| Brady Wiebe | corporate director | 2022-09 | ||
| Chelsey Carper | corporate officer | 2025-01 | ||
| Daniel Brown | corporate director | 2010-08 | ||
| Daniel Talley | corporate director | 2016-10 | ||
| Jeffrey Minnaert | corporate director | 2022-09 | ||
| Laura Johnson | corporate director | 2015-10 | ||
| Lois Niedert | corporate director | 1996-04 | ||
| Robert Vanliere | corporate director | 2017-09 | ||
| Robin Schwebach | corporate director | 2000-09 | ||
| Ryan Kappenman | corporate director | 2022-09 | ||
| Sandra Schwader | corporate director | 2021-09 | ||
| Teresa Mallett | 5% or greater direct ownership interest | 2025-01 | ||
| Teresa Mallett | corporate officer | 2001-05 | ||
| Teresa Mallett | w-2 managing employee | 2001-05 | ||
| Teresa Mallett | operational/managerial control | 2025-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.