Caro Community Hospital
Caro, Tuscola County, MI
· CCN 231329
Licensed to Mclaren Caro Region
Composite
21.8
rank score
Distress
12
FY2023
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 90-150 days cash on hand
- occupancy below 30%
- 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 · FY2023
| Net patient revenue | $19.1M |
| Operating margin | 2.0% |
| Total margin | 11.6% |
| Days cash on hand | 139 |
| Current ratio | 2.71 |
| Occupancy | 13% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $12.3M | $327K | -26.5% | 2.0% | 102 | 1.73 | 2% | 43 | 41 |
| 2021 | 25 | $14.6M | $-1.3M | -11.7% | -8.6% | 113 | 1.21 | 7% | 18 | 61 |
| 2022 | 25 | $17.4M | $1.1M | -3.3% | 5.9% | 68 | 1.30 | 10% | 54 | 38 |
| 2023 | 25 | $19.1M | $2.5M | 2.0% | 11.6% | 139 | 2.71 | 13% | 44 | 12 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mclaren Health Care Corporation | 5% or greater direct ownership interest | 100 | 2018-01 | |
| Brant Wilson | corporate director | 2019-02 | ||
| Chad Grant | corporate director | 2021-08 | ||
| Connie Koutouzos | corporate officer | 2021-11 | ||
| Connie Koutouzos | w-2 managing employee | 2021-11 | ||
| Connie Koutouzos | operational/managerial control | 2021-11 | ||
| John Hunter | corporate director | 2014-01 | ||
| Jonathan Cummings | corporate director | 2026-03 | ||
| Kenneth Baranski | corporate officer | 2024-03 | ||
| Kenneth Baranski | w-2 managing employee | 2024-03 | ||
| Kenneth Baranski | operational/managerial control | 2024-03 | ||
| Lainey Ransford | corporate director | 2014-01 | ||
| Robert Fulton | corporate director | 2021-11 | ||
| Robert Wolak | corporate director | 2014-04 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.