Munson Healthcare Charlevoix Hospita
Charlevoix, Charlevoix County, MI
· CCN 231322
Licensed to Munson Healthcare Charlevoix Hospital
Composite
31.2
rank score
Distress
33
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 30-60 days cash on hand
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $78.2M |
| Operating margin | 5.9% |
| Total margin | 7.2% |
| Days cash on hand | 38 |
| Current ratio | 2.02 |
| Occupancy | 21% |
Facility
| Beds | 25 |
| 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 | 25 | $62.1M | $9.9M | 7.3% | 14.7% | 207 | 3.73 | 26% | 906 | 9 |
| 2022 | 25 | $68.1M | $5.5M | 2.3% | 7.7% | 71 | 2.05 | 24% | 737 | 19 |
| 2023 | 25 | $73.6M | $2.2M | 1.9% | 2.9% | 23 | 1.64 | 20% | 597 | 38 |
| 2024 | 25 | $78.2M | $5.7M | 5.9% | 7.2% | 38 | 2.02 | 21% | 644 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Munson Healthcare | operational/managerial control | 100 | 2015-12 | |
| Bruce Zenner | corporate director | 2022-01 | ||
| Casey Cowell | corporate director | 2022-01 | ||
| Elaine Wood | corporate director | 2022-01 | ||
| Ellen Smith | corporate officer | 2022-01 | ||
| Ellen Smith | corporate director | 2022-01 | ||
| Ellen Smith | w-2 managing employee | 2022-01 | ||
| Kathy Dixon | corporate director | 2022-01 | ||
| Owen Roberts | corporate director | 2022-01 | ||
| Ruth Hoppe | corporate officer | 2015-12 | ||
| Theodore Batzer | corporate director | 2022-01 | ||
| Thomas Veryser | corporate director | 2022-01 | ||
| Tonya Smith | corporate director | 2021-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.