Willapa Harbor Hospital
South Bend, Willapa County, WA
· CCN 501303
Licensed to Pacific County Hospital District 2
Composite
37.9
rank score
Distress
50
FY2023
Fit
38
vs thesis
Estimated ticket
$722K–$1.4M
10 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin negative
- 90-150 days cash on hand
- current ratio under 1.5
- occupancy below 30%
- margin slipping
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $26.1M |
| Operating margin | -11.3% |
| Total margin | -2.8% |
| Days cash on hand | 99 |
| Current ratio | 1.10 |
| Occupancy | 18% |
Facility
| Beds | 10 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 10 | $18.6M | $-552K | -24.1% | -2.5% | 287 | 1.17 | 15% | 202 | 56 |
| 2021 | 10 | $22.4M | $2.0M | -8.7% | 7.4% | 261 | 1.44 | 15% | 223 | 34 |
| 2022 | 10 | $26.5M | $2.1M | -1.1% | 7.4% | 175 | 1.66 | 26% | 294 | 24 |
| 2023 | 10 | $26.1M | $-789K | -11.3% | -2.8% | 99 | 1.10 | 18% | 198 | 50 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Matthew Kempton | corporate officer | 100 | 2019-12 | |
| Pacific County Hospital District 2 | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Kimberly Polanco | corporate officer | 2023-04 | ||
| Matthew Kempton | w-2 managing employee | 2019-12 |
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 |
|---|---|---|---|---|
| 2018-09-01 | Lourdes Hospital Llc | Our Lady Of Lourdes Health Center | Lourdes Medical Center | 25 |