Smdc Medical Center
Duluth, St. Louis County, MN · CCN 240019
Composite
66.0
rank score
Distress
80
FY2024
Fit
75
vs thesis
Estimated ticket
$41.3M–$165M
118 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 below 0.8
- debt above 70% of assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $546M |
| Operating margin | -12.0% |
| Total margin | -0.4% |
| Days cash on hand | 0 |
| Current ratio | -0.39 |
| Occupancy | 49% |
Facility
| Beds | 118 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 114 | $462M | $65.2M | -0.7% | 12.3% | 0 | 0.29 | 52% | 2,977 | 58 |
| 2022 | 118 | $504M | $7.9M | -1.3% | 1.5% | 0 | 0.31 | 54% | 3,104 | 61 |
| 2023 | 118 | $519M | $-5.4M | -7.1% | -1.0% | 0 | -0.55 | 58% | 2,960 | 72 |
| 2024 | 118 | $546M | $-2.2M | -12.0% | -0.4% | 0 | -0.39 | 49% | 2,697 | 80 |
Owners
No ownership records — CMS has no owner filings mapped to this CCN.
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 |