Essentia Health Virginia
Virginia, St. Louis County, MN
· CCN 240084
Licensed to Essentia Health Virginia Llc
Composite
37.7
rank score
Distress
25
FY2024
Fit
66
vs thesis
Estimated ticket
$24.5M–$98.0M
49 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- small but workable bed count
- ticket size somewhat below the envelope
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $147M |
| Operating margin | 4.2% |
| Total margin | 5.5% |
| Days cash on hand | 18 |
| Current ratio | 5.73 |
| Occupancy | 37% |
Facility
| Beds | 49 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 47 | $125M | $3.2M | 2.6% | 2.6% | 0 | 0.92 | 36% | 1,651 | 37 |
| 2022 | 49 | $132M | $8.4M | 0.4% | 6.0% | 18 | 3.15 | 43% | 1,642 | 34 |
| 2023 | 49 | $132M | $-3.5M | -5.0% | -2.6% | 6 | 4.40 | 41% | 1,275 | 58 |
| 2024 | 49 | $147M | $8.1M | 4.2% | 5.5% | 18 | 5.73 | 37% | 1,511 | 25 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Essentia Health | 5% or greater indirect ownership interest | 100 | 2012-08 | |
| Samuel Stone | w-2 managing employee | 100 | 2016-09 | |
| Smdc Medical Center | 5% or greater direct ownership interest | 100 | 2012-08 | |
| Adam Bachand | corporate director | 2025-01 | ||
| Amy Bergstrom | corporate director | 2024-01 | ||
| Anthony Sertich | corporate officer | 2021-01 | ||
| Anthony Yung | corporate director | 2023-01 | ||
| Beverly Raway | corporate director | 2017-01 | ||
| Bradley Beard | corporate officer | 2023-07 | ||
| Bradley Beard | w-2 managing employee | 2023-07 | ||
| George Loban | corporate director | 2024-01 | ||
| Jan Baldwin | corporate director | 2017-01 | ||
| Jeanne Weber | corporate director | 2019-02 | ||
| Kevin Boren | corporate officer | 2023-07 | ||
| Kevin Boren | w-2 managing employee | 2023-07 | ||
| Krista Skorupa | corporate officer | 2024-05 | ||
| Mark Bortnem | corporate officer | 2025-09 | ||
| Michael Watters | corporate officer | 2023-07 | ||
| Nancy Aronson Norr | corporate director | 2025-01 | ||
| Rebecca Urbanski | corporate director | 2025-01 | ||
| St Marys Duluth Clinic Health System | operational/managerial control | 2012-08 | ||
| Thomas Jamar | corporate director | 2023-01 | ||
| Troy Duininck | corporate director | 2023-01 |
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 |