Hennepin County Medical Center
Minneapolis, Hennepin County, MN
· CCN 240004
Licensed to Hennepin Healthcare System Inc
Composite
61.0
rank score
Distress
76
FY2023
Fit
67
vs thesis
Estimated ticket
$121M–$486M
347 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- debt above 85% of assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $1.3B |
| Operating margin | -11.2% |
| Total margin | -3.6% |
| Days cash on hand | 19 |
| Current ratio | 1.46 |
| Occupancy | 77% |
Facility
| Beds | 347 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 330 | $922M | $39.7M | -18.9% | 3.5% | 63 | 1.97 | 73% | 16,088 | 46 |
| 2021 | 334 | $1.1B | $44.2M | -6.5% | 3.6% | 61 | 1.63 | 78% | 15,721 | 40 |
| 2022 | 335 | $1.2B | $-35.7M | -11.2% | -2.8% | 37 | 1.67 | 78% | 13,847 | 60 |
| 2023 | 347 | $1.3B | $-49.6M | -11.2% | -3.6% | 19 | 1.46 | 77% | 14,398 | 76 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hennepin County | operational/managerial control | 100 | 2006-11 | |
| Abdirahman Abdi | corporate officer | 2026-01 | ||
| Abdirahman Abdi | w-2 managing employee | 2026-01 | ||
| Angela Conley | corporate director | 2025-08 | ||
| Charles Esler | corporate officer | 2026-01 | ||
| Charles Esler | w-2 managing employee | 2026-01 | ||
| Deborah Goettel | corporate director | 2025-08 | ||
| Heather Edelson | corporate director | 2025-08 | ||
| Irene Fernando | corporate director | 2020-01 | ||
| Jeffrey Lunde | corporate director | 2025-08 | ||
| Kevin Anderson | corporate director | 2025-08 | ||
| Marion Greene | corporate director | 2019-01 |
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 |