Marquette General Hospital
dba Up Health System Marquette ·
Marquette, Marquette County, MI
· CCN 230054
Licensed to Dlp Marquette General Hospital Llc
Composite
53.5
rank score
Distress
61
FY2024
Fit
65
vs thesis
Estimated ticket
$13.9M–$27.7M
163 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $382M |
| Operating margin | -7.6% |
| Total margin | -3.2% |
| Days cash on hand | 1 |
| Current ratio | 2.19 |
| Occupancy | 67% |
Facility
| Beds | 163 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 163 | $360M | $35.5M | -0.7% | 8.9% | 1 | 1.63 | 68% | 8,729 | 38 |
| 2022 | 163 | $345M | $844K | -8.9% | 0.2% | 2 | 2.37 | 73% | 7,814 | 48 |
| 2023 | 163 | $351M | $-13.9M | -11.5% | -3.7% | 1 | 2.46 | 71% | 6,972 | 62 |
| 2024 | 163 | $382M | $-12.9M | -7.6% | -3.2% | 1 | 2.19 | 67% | 7,386 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dlp Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2012-05 | |
| Dlp Marquette Holding Company Llc | 5% or greater direct ownership interest | 100 | 2012-05 | |
| Dlp Partner Llc | 5% or greater indirect ownership interest | 97 | 2012-05 | |
| Dsb Acquisition Llc | 5% or greater indirect ownership interest | 97 | 2018-11 | |
| Historic Lifepoint Hospitals, Llc | 5% or greater indirect ownership interest | 97 | 2012-05 | |
| Legacy Lifepoint Health Llc | 5% or greater indirect ownership interest | 97 | 2012-05 | |
| Lifepoint Health Inc | 5% or greater indirect ownership interest | 97 | 2018-11 | |
| Lifepoint Holdings 2 Llc | 5% or greater indirect ownership interest | 97 | 2012-05 | |
| Lifepoint Hospitals Holdings Llc | 5% or greater indirect ownership interest | 97 | 2012-05 | |
| Charlotte Lawrence | corporate officer | 2022-03 | ||
| Christopher Monte | corporate officer | 2012-09 | ||
| Dlp Partner Llc | operational/managerial control | 2012-09 | ||
| Elliott Brown | corporate officer | 2026-04 | ||
| Elmer Polite | corporate officer | 2023-06 | ||
| Marcus Poppell | corporate officer | 2018-11 | ||
| Marcus Poppell | other | 2012-09 | ||
| Phillip Sensing | corporate officer | 2026-05 | ||
| Tonya Darner | w-2 managing employee | 2023-12 |
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 MI
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 |
|---|---|---|---|---|
| 2018-07-01 | St Joseph Mercy Chelsea Inc | Trinity Health-Michigan | Chelsea Hospital | 79 |