Baraga County Memorial Hospital
Lanse, Baraga County, MI
· CCN 231307
Licensed to Baraga County Memorial Hospital
Composite
30.9
rank score
Distress
41
FY2023
Fit
31
vs thesis
Estimated ticket
$2.0M–$4.1M
24 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin -10% to -5%
- debt above 85% of assets
- occupancy below 30%
- margin deteriorating
- 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
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $25.8M |
| Operating margin | -8.1% |
| Total margin | 4.0% |
| Days cash on hand | 152 |
| Current ratio | 3.31 |
| Occupancy | 26% |
Facility
| Beds | 24 |
| 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 | 24 | $17.5M | $1.6M | -27.6% | 6.6% | 289 | 3.69 | 18% | 307 | 48 |
| 2021 | 24 | $21.7M | $1.8M | -15.5% | 6.7% | 245 | 4.50 | 18% | 270 | 44 |
| 2022 | 24 | $24.3M | $1.2M | -10.5% | 4.4% | 242 | 4.78 | 28% | 360 | 44 |
| 2023 | 24 | $25.8M | $1.2M | -8.1% | 4.0% | 152 | 3.31 | 26% | 312 | 41 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Burt Mason | corporate officer | 2023-03 | ||
| Carole Lapointe | corporate director | 2011-01 | ||
| Cathryn Beer | corporate director | 2021-08 | ||
| Cathy Wadaga | corporate director | 2013-08 | ||
| Gail Jestila | corporate officer | 2021-04 | ||
| Gail Jestila | w-2 managing employee | 2021-04 | ||
| Gail Jestila | operational/managerial control | 2021-04 | ||
| James Loman | corporate director | 2013-06 | ||
| Jayne Walbridge | corporate director | 2021-08 | ||
| Robert Stowe | corporate officer | 2021-09 | ||
| Robert Stowe | w-2 managing employee | 2021-09 | ||
| Robert Stowe | operational/managerial control | 2021-09 | ||
| Shirley Younggren | corporate officer | 2005-03 | ||
| Shirley Younggren | w-2 managing employee | 2005-03 | ||
| Todd Ingram | corporate officer | 2019-07 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.