Ocean Beach Hospital
Ilwaco, Pacific County, WA
· CCN 501314
Licensed to Public Hospital District 3 Of Pacific County
Composite
37.5
rank score
Distress
43
FY2023
Fit
46
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin negative
- 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
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $33.8M |
| Operating margin | -11.1% |
| Total margin | -2.1% |
| Days cash on hand | 155 |
| Current ratio | 6.46 |
| Occupancy | 24% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 | $20.5M | $-87.9K | -34.8% | -0.3% | 303 | 1.74 | 17% | 279 | 44 |
| 2021 | 25 | $28.2M | $2.6M | -10.6% | 7.7% | 291 | 2.19 | 19% | 357 | 37 |
| 2022 | 25 | $31.4M | $4.2M | -3.6% | 11.5% | 225 | 7.01 | 21% | 350 | 24 |
| 2023 | 25 | $33.8M | $-771K | -11.1% | -2.1% | 155 | 6.46 | 24% | 306 | 43 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ariel Smith | corporate director | 2016-01 | ||
| Elise Chayet | corporate director | 2024-05 | ||
| Eric Volk | corporate officer | 2024-05 | ||
| Madeline Moore | corporate director | 2016-01 | ||
| Merry-Ann Keane | corporate officer | 2024-01 | ||
| Merry-Ann Keane | w-2 managing employee | 2024-01 | ||
| Nancy Gorshe | corporate director | 2012-01 | ||
| Public Hospital District 3 Of Pacific County | operational/managerial control | 2007-11 | ||
| Sandra Stonebreaker | corporate director | 2018-01 |
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 |