Um Health-Sparrow Carson
dba University Of Michigan Health-Sparrow ·
Carson City, Montcalm County, MI
· CCN 230208
Licensed to Sparrow Carson Hospital
Composite
55.0
rank score
Distress
67
FY2024
Fit
62
vs thesis
Estimated ticket
$20.4M–$81.6M
48 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy below 30%
- urban — higher occupancy and iteration surface
- small but workable bed count
- ticket size somewhat below the envelope
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $50.6M |
| Operating margin | -3.0% |
| Total margin | 0.4% |
| Days cash on hand | 9 |
| Current ratio | 0.24 |
| Occupancy | 8% |
Facility
| Beds | 48 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 48 | $40.3M | $-999K | -23.5% | -2.0% | 14 | 0.29 | 10% | 553 | 88 |
| 2021 | 48 | $46.2M | $-2.0M | -9.0% | -4.2% | 3 | 0.23 | 12% | 578 | 87 |
| 2022 | 48 | $43.8M | $-5.1M | -16.6% | -11.1% | 1 | 0.32 | 11% | 528 | 100 |
| 2023 | 48 | $22.0M | $-2.3M | -15.6% | -10.1% | 3 | 0.18 | 8% | 222 | 100 |
| 2024 | 48 | $50.6M | $192K | -3.0% | 0.4% | 9 | 0.24 | 8% | 429 | 67 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Regents Of The University Of Michigan | 5% or greater indirect ownership interest | 100 | 2023-04 | |
| Sparrow Health System | 5% or greater direct ownership interest | 100 | 2015-02 | |
| Um Health | 5% or greater indirect ownership interest | 100 | 2023-04 | |
| Anthony Mazzali | corporate officer | 2025-07 | ||
| Bruce Courtade | corporate officer | 2025-07 | ||
| Candace Metcalf | corporate officer | 2025-07 | ||
| Carol Priebe Wiles | corporate officer | 2025-07 | ||
| Daniel Balice | corporate officer | 2025-07 | ||
| Eric Strucko | corporate officer | 2025-07 | ||
| Gregory Holzhei | corporate officer | 2025-07 | ||
| Harper Wildern | corporate officer | 2025-07 | ||
| John Hendrickson | corporate officer | 2025-07 | ||
| John Milewski | corporate officer | 2025-07 | ||
| Laura Gibson | corporate officer | 2025-07 | ||
| Margaret Dimond | corporate director | 2024-04 | ||
| Margaret Dimond | w-2 managing employee | 2024-04 | ||
| Matthew Wilcox | corporate officer | 2025-07 | ||
| Misty Russian | w-2 managing employee | 2024-04 | ||
| Timothy Williams | corporate officer | 2025-07 |
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 |