Range Regional Health Services
dba University Medical Center/ Mesaba Clinics ·
Hibbing, St. Louis County, MN
· CCN 240040
Licensed to Range Regional Health Services
Composite
51.6
rank score
Distress
48
FY2023
Fit
75
vs thesis
Estimated ticket
$36.0M–$144M
72 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin negative
- 30-60 days cash on hand
- 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 · FY2023
| Net patient revenue | $129M |
| Operating margin | -4.6% |
| Total margin | -1.7% |
| Days cash on hand | 48 |
| Current ratio | 1.59 |
| Occupancy | 50% |
Facility
| Beds | 72 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 72 | $106M | $12.9M | -13.2% | 9.9% | 132 | 2.16 | 49% | 2,164 | 39 |
| 2021 | 72 | $122M | $3.2M | -6.1% | 2.5% | 110 | 2.33 | 52% | 2,240 | 29 |
| 2022 | 72 | $121M | $-8.8M | -10.3% | -7.1% | 50 | 2.53 | 52% | 2,096 | 59 |
| 2023 | 72 | $129M | $-2.2M | -4.6% | -1.7% | 48 | 1.59 | 50% | 2,093 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Amanda Mcdonald | corporate director | 2013-01 | ||
| Brian Amdahl | corporate director | 2020-02 | ||
| Gregory Schoen | corporate director | 2024-01 | ||
| Hannah Forti | corporate director | 2020-02 | ||
| Jean Macdonell | corporate director | 2021-01 | ||
| Jean Macdonell | w-2 managing employee | 2021-01 | ||
| Jeffrey Lee | corporate director | 2022-01 | ||
| Jeoff Will | corporate director | 2024-01 | ||
| Jessalyn Sabin | corporate director | 2020-02 | ||
| Kasey Kapella | corporate officer | 2022-01 | ||
| Mark Gardeski | corporate director | 2020-02 | ||
| Susan Hoyum | corporate officer | 2022-01 | ||
| Victoria Hagberg | corporate officer | 2021-01 |
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 |