Whidbey General Hospital
dba Whidbeyhealth Medical Center ·
Coupeville, Island County, WA
· CCN 501339
Licensed to Whidbey Island Public Hospital District
Composite
52.9
rank score
Distress
69
FY2023
Fit
54
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- current liabilities exceed current assets
- debt above 85% of assets
- occupancy 45-60%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $113M |
| Operating margin | -22.8% |
| Total margin | -3.0% |
| Days cash on hand | 22 |
| Current ratio | 0.88 |
| Occupancy | 52% |
Facility
| Beds | 25 |
| 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 | 25 | $93.7M | $-10.6M | -33.2% | -9.2% | 28 | 1.45 | 52% | 1,297 | 77 |
| 2021 | 25 | $105M | $745K | -19.5% | 0.6% | 25 | 1.07 | 59% | 1,186 | 63 |
| 2022 | 25 | $98.0M | $-2.8M | -23.4% | -2.4% | 48 | 2.18 | 51% | 1,027 | 59 |
| 2023 | 25 | $113M | $-4.0M | -22.8% | -3.0% | 22 | 0.88 | 52% | 1,264 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Whidbey Island Public Hospital District | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Curtis Shumate | corporate director | 2022-02 | ||
| Curtis Shumate | w-2 managing employee | 2010-02 | ||
| Garth Miller | corporate officer | 2021-09 | ||
| Garth Miller | corporate director | 2021-09 | ||
| Garth Miller | w-2 managing employee | 2018-08 | ||
| James Golder | corporate officer | 2022-01 | ||
| James Golder | corporate director | 2022-01 | ||
| Jamie Canby | corporate officer | 2026-01 | ||
| Jamie Canby | corporate director | 2026-01 | ||
| Kirk Gasper | corporate officer | 2025-12 | ||
| Kirk Gasper | corporate director | 2025-12 | ||
| Marion Jouas | corporate director | 2023-12 | ||
| Mark Borden | corporate officer | 2026-01 | ||
| Mark Borden | corporate director | 2026-01 | ||
| Nathan Staggs | corporate officer | 2023-03 | ||
| Nathan Staggs | corporate director | 2023-03 | ||
| Nathan Staggs | w-2 managing employee | 2023-03 | ||
| Paul Rogers | corporate officer | 2022-09 | ||
| Paul Rogers | corporate director | 2022-09 |
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 |