North Memorial Health Hospital
Robbinsdale, Hennepin County, MN
· CCN 240001
Licensed to North Memorial Health Care
Composite
53.5
rank score
Distress
61
FY2023
Fit
65
vs thesis
Estimated ticket
$139M–$558M
328 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $596M |
| Operating margin | -32.8% |
| Total margin | -0.5% |
| Days cash on hand | 1 |
| Current ratio | 1.11 |
| Occupancy | 72% |
Facility
| Beds | 328 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 332 | $518M | $28.2M | -36.4% | 3.8% | 38 | 1.08 | 64% | 16,117 | 48 |
| 2021 | 328 | $566M | $78.3M | -29.2% | 9.7% | 34 | 1.33 | 68% | 15,562 | 48 |
| 2022 | 328 | $571M | $-68.8M | -37.0% | -9.6% | 1 | 0.96 | 73% | 15,945 | 76 |
| 2023 | 328 | $596M | $-3.8M | -32.8% | -0.5% | 1 | 1.11 | 72% | 16,704 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alexa Chellsen | w-2 managing employee | 2020-08 | ||
| Allen Kemp | corporate director | 2024-08 | ||
| Andrew Houlton | corporate director | 2021-02 | ||
| Bruce Christensen | corporate director | 2019-01 | ||
| Cameron Berg | corporate director | 2024-08 | ||
| Carolyn Ogland Vukich | corporate director | 2018-08 | ||
| Carolyn Ogland Vukich | w-2 managing employee | 2018-08 | ||
| Diane Huston | corporate director | 2019-01 | ||
| Eric Skalland | corporate director | 2024-08 | ||
| Heidi Wilson | corporate director | 2019-01 | ||
| John Foley | w-2 managing employee | 2022-09 | ||
| Laurie Lafontaine | corporate director | 2016-07 | ||
| Ramon Pastrano | corporate director | 2024-08 | ||
| Reuben Moore | corporate director | 2021-01 | ||
| Robert Dahl | corporate director | 2018-01 | ||
| Stephanie Gale | corporate officer | 2024-12 | ||
| Ted Ferrara | corporate director | 2016-07 | ||
| Trevor Sawallish | corporate officer | 2023-09 | ||
| Warren Mack | corporate director | 2013-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
Who has been buying in MN
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2018-01-01 | Carris Health Llc | Rice Memorial Hospital | Carris Health | 81 |
| 2017-01-01 | Allina Health System | Allina Health System | Mercy Hospital | 464 |