Sturgis Hospital Inc.
Sturgis, St. Joseph County, MI · CCN 230096
Composite
63.4
rank score
Distress
100
FY2023
Fit
46
vs thesis
Estimated ticket
$3.4M–$6.9M
49 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy below 30%
- margin deteriorating sharply
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $9.7M |
| Operating margin | -86.3% |
| Total margin | -81.2% |
| Days cash on hand | 0 |
| Current ratio | -0.55 |
| Occupancy | 3% |
Facility
| Beds | 49 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 | 49 | $16.6M | $5.3M | -47.4% | 17.7% | 55 | 0.72 | 6% | 392 | 78 |
| 2021 | 49 | $17.8M | $-6.0M | -37.7% | -32.4% | 0 | 0.34 | 8% | 492 | 100 |
| 2022 | 49 | $15.4M | $-8.5M | -58.4% | -53.3% | 0 | -0.29 | 7% | 390 | 100 |
| 2023 | 49 | $9.7M | $-8.1M | -86.3% | -81.2% | 0 | -0.55 | 3% | 120 | 100 |
Owners
No ownership records — CMS has no owner filings mapped to this CCN.
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 |