Mclaren Greater Lansing
Lansing Mi 489100, Ingham County, MI
· CCN 230167
Licensed to Mclaren Greater Lansing
Composite
55.9
rank score
Distress
69
FY2023
Fit
62
vs thesis
Estimated ticket
$16.4M–$32.8M
193 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- debt above 85% of assets
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $444M |
| Operating margin | -4.9% |
| Total margin | -10.9% |
| Days cash on hand | 20 |
| Current ratio | 1.09 |
| Occupancy | 69% |
Facility
| Beds | 193 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 | 237 | $332M | $814K | -7.1% | 0.2% | 226 | 1.73 | 52% | 10,439 | 36 |
| 2021 | 237 | $374M | $39.2M | -2.0% | 9.3% | 188 | 1.50 | 57% | 9,633 | 29 |
| 2022 | 185 | $384M | $-23.2M | -9.8% | -5.8% | 72 | 0.85 | 67% | 10,689 | 61 |
| 2023 | 193 | $444M | $-45.7M | -4.9% | -10.9% | 20 | 1.09 | 69% | 10,085 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mclaren Health Care Corporation | 5% or greater direct ownership interest | 100 | 1997-10 | |
| Adenike Shoyinka | corporate director | 2023-05 | ||
| April Clobes | corporate director | 2019-11 | ||
| Chad Grant | corporate director | 2019-07 | ||
| Dale Thompson | corporate officer | 2013-10 | ||
| Dale Thompson | w-2 managing employee | 2013-10 | ||
| Dale Thompson | operational/managerial control | 2013-10 | ||
| Edgar Harden | corporate director | 2019-11 | ||
| Janet Lillie | corporate director | 2025-03 | ||
| Paula Cunningham | corporate director | 2003-01 | ||
| Ralph Shaheen | corporate director | 2009-03 | ||
| Salvatore Durso | corporate director | 2014-07 | ||
| Sarah Jennings | corporate director | 2023-01 | ||
| Scott Stewart | corporate director | 2014-01 | ||
| Theresa Hubbell | corporate director | 2003-01 |
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 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 |