Mackinac Straits Health System Inc
dba Mackinac Straits Hospital And Health Center ·
St. Ignace, Mackinac County, MI
· CCN 231306
Licensed to Mackinac Straits Health System Inc
Composite
28.5
rank score
Distress
33
FY2024
Fit
34
vs thesis
Estimated ticket
$1.3M–$2.5M
15 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 60-90 days cash on hand
- liabilities exceed assets
- occupancy below 30%
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $68.6M |
| Operating margin | 1.9% |
| Total margin | 9.9% |
| Days cash on hand | 73 |
| Current ratio | 2.82 |
| Occupancy | 12% |
Facility
| Beds | 15 |
| Facility type | CAH |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 15 | $47.2M | $5.4M | -6.7% | 9.5% | 109 | 1.83 | 20% | 156 | 47 |
| 2022 | 15 | $57.1M | $8.0M | 1.3% | 12.2% | 112 | 1.99 | 22% | 242 | 31 |
| 2023 | 15 | $62.2M | $4.7M | 1.1% | 7.0% | 70 | 2.97 | 20% | 230 | 37 |
| 2024 | 15 | $68.6M | $7.6M | 1.9% | 9.9% | 73 | 2.82 | 12% | 202 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Deborah Lull | operational/managerial control | 2024-01 | ||
| James North | corporate director | 2013-02 | ||
| Jason Anderson | corporate director | 2008-06 | ||
| Jason Anderson | w-2 managing employee | 2008-06 | ||
| Jodie Becker | operational/managerial control | 2024-01 | ||
| John Moffat | corporate director | 2025-02 | ||
| Karen Cheeseman | corporate director | 2017-07 | ||
| Karen Cheeseman | w-2 managing employee | 2017-07 | ||
| Keith Massaway | corporate director | 2015-05 | ||
| Kevin Mcelroy | corporate director | 2013-01 | ||
| Margaret Doud | corporate director | 2008-06 | ||
| Mark Elmblad | corporate director | 2015-05 | ||
| Patrick Shannon | corporate director | 2007-02 | ||
| Prentiss Brown | corporate director | 2013-02 | ||
| Richard Smith | corporate director | 2008-06 | ||
| Robert Currier | corporate director | 2024-01 | ||
| Steven Autore | corporate director | 2008-06 | ||
| Susan Strich | corporate director | 2018-06 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.