Mclaren Thumb Region
Bad Axe, Huron County, MI
· CCN 231340
Licensed to Mclaren Thumb Region
Composite
38.1
rank score
Distress
36
FY2023
Fit
50
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- 90-150 days cash on hand
- occupancy 45-60%
- margin slipping
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $43.2M |
| Operating margin | -8.9% |
| Total margin | -2.6% |
| Days cash on hand | 124 |
| Current ratio | 1.84 |
| Occupancy | 46% |
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 | 27 | $27.5M | $-630K | -13.3% | -2.1% | 132 | 1.75 | 26% | 954 | 49 |
| 2022 | 25 | $43.3M | $-1.2M | -13.5% | -2.5% | 74 | 1.62 | 38% | 1,154 | 51 |
| 2023 | 25 | $43.2M | $-1.2M | -8.9% | -2.6% | 124 | 1.84 | 46% | 638 | 36 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mclaren Health Care Corporation | 5% or greater indirect ownership interest | 100 | 2018-05 | chain |
| 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 | ||
| Donald Clark | corporate director | 1980-11 | ||
| John Hunt | corporate director | 2012-11 | ||
| Kenneth Baranski | corporate officer | 2024-03 | ||
| Kenneth Baranski | w-2 managing employee | 2024-03 | ||
| Kenneth Baranski | operational/managerial control | 2024-03 | ||
| Mary Rapson | corporate director | 2005-11 | ||
| Michael Murawski | corporate director | 2023-05 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.