Olympic Medical Center
Port Angeles, Clallam County, WA
· CCN 500072
Licensed to Clallam County Public Hospital District 2
Composite
59.8
rank score
Distress
80
FY2023
Fit
60
vs thesis
Estimated ticket
$5.5M–$10.9M
78 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- occupancy 45-60%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $232M |
| Operating margin | -17.0% |
| Total margin | -10.6% |
| Days cash on hand | 5 |
| Current ratio | 0.86 |
| Occupancy | 51% |
Facility
| Beds | 78 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| 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 | 78 | $205M | $10.4M | -8.9% | 4.4% | 116 | 1.48 | 48% | 3,607 | 32 |
| 2021 | 78 | $238M | $5.7M | -4.0% | 2.3% | 55 | 2.26 | 53% | 3,631 | 34 |
| 2022 | 78 | $238M | $-16.1M | -12.2% | -6.3% | 32 | 1.60 | 46% | 3,300 | 59 |
| 2023 | 78 | $232M | $-26.0M | -17.0% | -10.6% | 5 | 0.86 | 51% | 3,170 | 80 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charles Gregson | contracted managing employee | 100 | 2025-08 | |
| Dennis Stillman | contracted managing employee | 100 | 2025-09 | |
| Carleen Bensen | corporate director | 2026-01 | ||
| Charles Gregson | corporate officer | 2025-08 | ||
| Dennis Stillman | corporate officer | 2025-09 | ||
| Gerald Stephanz | corporate director | 2026-01 | ||
| John Oblack | corporate director | 2012-02 | ||
| Kathryn Sanders | corporate director | 2025-03 | ||
| Philip Guintoli | corporate director | 2022-05 | ||
| Thomas Hightower | corporate director | 2018-02 |
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 WA
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 |
|---|---|---|---|---|
| 2023-07-01 | Central Washington Health Services... | Wenatchee Valley Hospital | Confluence Health | 187 |
| 2021-12-05 | Multicare Health System | Columbia Capital Medical Center Lp | Capital Medical Center | 107 |
| 2020-01-01 | University Of Washington | Uw Medicine Northwest | University Of Washington Med Ctr | 617 |
| 2018-08-04 | Rcch Trios Health Llc | Kennewick Public Hospital District | Trios Health | 111 |
| 2016-06-01 | Public Hospital Dist No 1 Skagit | Public Hospital District 3 Snohomish County | Cascade Valley Hospital | 48 |