Grand Itasca Clinic And Hospital
Grand Rapids, Itasca County, MN · CCN 240064
Composite
32.4
rank score
Distress
23
FY2023
Fit
55
vs thesis
Estimated ticket
$3.4M–$6.8M
34 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- 60-90 days cash on hand
- occupancy 45-60%
- margin deteriorating
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $123M |
| Operating margin | 1.9% |
| Total margin | 3.4% |
| Days cash on hand | 83 |
| Current ratio | 1.63 |
| Occupancy | 48% |
Facility
| Beds | 34 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 36 | $97.0M | $7.0M | -2.1% | 6.6% | 130 | 1.72 | 43% | 1,824 | 26 |
| 2021 | 36 | $114M | $15.2M | 3.0% | 12.1% | 102 | 7.80 | 50% | 1,748 | 7 |
| 2022 | 34 | $118M | $8.9M | 5.3% | 7.4% | 32 | -1.27 | 54% | 1,741 | 32 |
| 2023 | 34 | $123M | $4.3M | 1.9% | 3.4% | 83 | 1.63 | 48% | 1,712 | 23 |
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 |