St. Marys Regional Health Center
dba Essentia Health St Mary's Detroit Lakes ·
Detroit Lakes, Becker County, MN
· CCN 240101
Licensed to St Marys Regional Health Center
Composite
32.4
rank score
Distress
23
FY2024
Fit
55
vs thesis
Estimated ticket
$3.6M–$7.2M
36 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 30-60 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 · FY2024
| Net patient revenue | $176M |
| Operating margin | 3.5% |
| Total margin | 10.4% |
| Days cash on hand | 47 |
| Current ratio | 7.87 |
| Occupancy | 49% |
Facility
| Beds | 36 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 36 | $149M | $24.1M | 5.6% | 14.6% | 26 | 1.73 | 46% | 1,776 | 24 |
| 2022 | 36 | $158M | $6.3M | 2.9% | 3.9% | 44 | 3.81 | 51% | 1,735 | 19 |
| 2023 | 36 | $168M | $17.0M | 3.1% | 9.5% | 31 | 7.51 | 49% | 1,846 | 19 |
| 2024 | 36 | $176M | $19.7M | 3.5% | 10.4% | 47 | 7.87 | 49% | 1,931 | 23 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Essentia Health | 5% or greater direct ownership interest | 100 | 2023-07 | |
| Aarick Jackson | corporate director | 2020-01 | ||
| Alan Hurley | corporate officer | 2023-05 | ||
| Alan Hurley | w-2 managing employee | 2023-05 | ||
| Anderson Saint Georges | corporate director | 2025-01 | ||
| Benjamin Smith | corporate director | 2022-05 | ||
| Beverly Horn | corporate director | 2017-01 | ||
| Douglas Arvin | corporate officer | 2023-05 | ||
| Douglas Arvin | w-2 managing employee | 2023-05 | ||
| Innovis Health Llc | operational/managerial control | 2017-01 | ||
| James Christensen | corporate director | 2020-01 | ||
| Joel Haugen | corporate director | 2017-01 | ||
| Kevin Boren | corporate officer | 2025-09 | ||
| Kimberly Pladson | corporate director | 2025-01 | ||
| Laurie Lewandowski | corporate director | 2017-01 | ||
| Michael Watters | corporate officer | 2023-07 | ||
| Stefanie Gefroh Ellison | corporate officer | 2024-08 | ||
| Taylor Mertz | corporate director | 2022-05 | ||
| Tim Heilman | corporate director | 2020-01 |
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 |