Freeman Regional Health Services
dba Freeman Medical Center ·
Freeman, Hutchinson County, SD
· CCN 431313
Licensed to Freeman Regional Health Services
Composite
29.5
rank score
Distress
29
FY2023
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- occupancy below 30%
- margin slipping
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $16.1M |
| Operating margin | -4.9% |
| Total margin | 16.2% |
| Days cash on hand | 149 |
| Current ratio | 8.26 |
| Occupancy | 11% |
Facility
| Beds | 25 |
| 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 | 25 | $12.5M | $2.8M | -2.5% | 18.0% | 133 | 6.13 | 7% | 124 | 29 |
| 2021 | 25 | $13.8M | $4.0M | -5.6% | 21.6% | 131 | 3.94 | 11% | 143 | 36 |
| 2022 | 25 | $13.4M | $537K | -7.4% | 3.6% | 128 | 6.84 | 11% | 107 | 36 |
| 2023 | 25 | $16.1M | $3.3M | -4.9% | 16.2% | 149 | 8.26 | 11% | 116 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cameron Becker | corporate director | 2014-02 | ||
| Cory Schrag | corporate director | 2018-05 | ||
| Cynthia Mutchelknaus | corporate director | 2004-02 | ||
| Dan Crick | corporate director | 2015-10 | ||
| Glenn Roth | corporate director | 1994-02 | ||
| James Julson | corporate director | 2005-02 | ||
| Jason Aanenson | corporate director | 2004-02 | ||
| Lori Uecker | corporate director | 2007-02 | ||
| Phillip Husher | corporate officer | 2017-11 | ||
| Phillip Husher | w-2 managing employee | 2017-10 | ||
| Steve Fuhrman | corporate director | 2008-02 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.