Helen Newberry Joy Hospital
Newberry, Luce County, MI
· CCN 231304
Licensed to Helen Newberry Joy Hospital
Composite
35.9
rank score
Distress
46
FY2023
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- 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
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $35.9M |
| Operating margin | -10.3% |
| Total margin | 1.3% |
| Days cash on hand | 182 |
| Current ratio | 3.25 |
| Occupancy | 16% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 | 25 | $32.0M | $2.5M | -4.6% | 7.1% | 288 | 1.89 | 19% | 331 | 29 |
| 2021 | 25 | $34.9M | $8.6M | -3.6% | 19.3% | 247 | 3.29 | 22% | 343 | 24 |
| 2022 | 25 | $35.4M | $-2.4M | -16.7% | -6.0% | 167 | 3.69 | 16% | 289 | 49 |
| 2023 | 25 | $35.9M | $509K | -10.3% | 1.3% | 182 | 3.25 | 16% | 299 | 46 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Joanna Slaght | corporate director | 11 | 2010-10 | |
| Amy Lyman | corporate director | 2025-03 | ||
| Amy Lyman | w-2 managing employee | 2025-03 | ||
| Barbara Bennett | corporate director | 2012-01 | ||
| Helen Johnson | corporate director | 2024-08 | ||
| Helen Johnson | w-2 managing employee | 2024-08 | ||
| Mary Lalonde | corporate officer | 2019-09 | ||
| Mary Lalonde | w-2 managing employee | 2019-09 | ||
| Michael Beaulieu | corporate director | 2013-01 | ||
| Nancy Morrison | corporate director | 2021-01 | ||
| Nathan Neeb | corporate director | 2013-01 | ||
| Nicholas Derusha | corporate director | 2019-02 | ||
| Tammy Lasely-Henry | corporate director | 2019-02 | ||
| Terrance Nelson | corporate director | 2017-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.