Northfield City Hospital
Northfield, Dakota County, MN
· CCN 240014
Licensed to Northfield Hospital
Composite
57.9
rank score
Distress
78
FY2023
Fit
57
vs thesis
Estimated ticket
$12.9M–$51.8M
37 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current liabilities exceed current assets
- debt above 70% of assets
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- thin occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $132M |
| Operating margin | -9.4% |
| Total margin | -5.9% |
| Days cash on hand | 4 |
| Current ratio | 0.86 |
| Occupancy | 38% |
Facility
| Beds | 37 |
| 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 | 37 | $100M | $6.8M | -6.6% | 6.0% | 7 | 0.74 | 29% | 1,417 | 67 |
| 2021 | 37 | $119M | $8.2M | -2.7% | 6.5% | 11 | 0.98 | 35% | 1,504 | 52 |
| 2022 | 37 | $122M | $-18.2M | -8.4% | -15.4% | 10 | 1.57 | 36% | 1,433 | 67 |
| 2023 | 37 | $132M | $-8.1M | -9.4% | -5.9% | 4 | 0.86 | 38% | 1,572 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| City Of Northfield | 5% or greater direct ownership interest | 100 | 2008-09 | |
| Ashley Jepsen | w-2 managing employee | 2022-06 | ||
| Crystal Mulvihill | corporate director | 2023-01 | ||
| Eric Guth | corporate officer | 2023-04 | ||
| Eric Guth | corporate director | 2023-04 | ||
| Fred Rogers | corporate director | 2018-01 | ||
| Jami Reister | corporate director | 2022-01 | ||
| Jeffrey Meland | w-2 managing employee | 2000-01 | ||
| Jerry Ehn | w-2 managing employee | 2013-12 | ||
| Katie Lane | corporate director | 2023-01 | ||
| Michael Hemasath | corporate director | 2022-01 | ||
| Rhonda Pownell | corporate director | 2022-01 | ||
| Richard Estenson | corporate director | 2021-06 | ||
| Robert Morrison | corporate director | 2022-01 | ||
| Sara Pelant | w-2 managing employee | 2004-07 | ||
| Sarah Carlsen | corporate director | 2019-01 | ||
| Steve Underdahl | w-2 managing employee | 2013-06 | ||
| Tammy Hayes | w-2 managing employee | 2008-07 |
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 |