Lake View Memorial Hospital
dba Aspirus Lake View Hospital ·
Two Harbors, Lake County, MN
· CCN 241308
Licensed to Lake View Memorial Hospital, Inc
Composite
26.5
rank score
Distress
21
FY2023
Fit
38
vs thesis
Estimated ticket
$1.4M–$2.7M
16 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 90-150 days cash on hand
- occupancy 30-45%
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $22.7M |
| Operating margin | 0.6% |
| Total margin | 11.5% |
| Days cash on hand | 123 |
| Current ratio | 7.43 |
| Occupancy | 31% |
Facility
| Beds | 16 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 16 | $17.7M | $3.2M | 1.8% | 15.4% | 164 | 2.28 | 30% | 140 | 16 |
| 2021 | 16 | $23.0M | $6.0M | 13.3% | 23.1% | 277 | 2.64 | 44% | 161 | 6 |
| 2022 | 16 | $23.4M | $-133K | 4.8% | -0.6% | 133 | 4.77 | 38% | 201 | 18 |
| 2023 | 16 | $22.7M | $2.9M | 0.6% | 11.5% | 123 | 7.43 | 31% | 158 | 21 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| St. Luke's Hospital Of Duluth | 5% or greater direct ownership interest | 100 | 2010-01 | |
| Aspirus, Inc | operational/managerial control | 2024-03 | chain | |
| Chris Brelie | corporate director | 2021-05 | ||
| Greg Ruberg | corporate officer | 2014-07 | ||
| Janelle Jones | corporate director | 2015-01 | ||
| Jerry Yang | corporate officer | 2024-03 | ||
| Jerry Yang | w-2 managing employee | 2024-03 | ||
| Joyce Scott | corporate director | 2020-05 | ||
| Kelsey Schultz | corporate officer | 2023-04 | ||
| Kevin Beardsley | corporate director | 2010-01 | ||
| Kiera Wilson | corporate director | 2021-05 | ||
| Lori Peck | w-2 managing employee | 2024-03 | ||
| Nathan Cavallin | corporate director | 2017-06 | ||
| Nathan Cavallin | w-2 managing employee | 2017-06 | ||
| Richard Hogenson | corporate director | 2016-01 | ||
| Tyler Hack | w-2 managing employee | 2024-03 | ||
| Wade Leblanc | corporate director | 2012-06 |
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 |
|---|---|---|---|---|
| 2023-01-01 | Centracare Health - Benson Llc | Swift County-Benson Hospital | Centracare - Benson | 11 |
| 2021-07-01 | Welia Health | County Of Kanabec | Welia Health | 25 |
| 2020-05-01 | Healthpartners Rc | Renville County | Olivia Hospital And Clinics | 16 |
| 2020-01-01 | Avera Granite Falls | Granite Falls Municipal Hospital And Manor | Avera Granite Falls | 25 |
| 2019-01-01 | Carris Health - Redwood Llc | Redwood Area Hospital | Carris Health-Redwood Llc | 14 |
| 2018-01-01 | Mayo Clinic Health... | Mayo Clinic Health System - Waseca | Mayo Clinic Health System - Waseca | 15 |
| 2018-01-01 | Mayo Clinic Health... | Mayo Clinic Health System - New Prague | Mayo Clinic Health Sys - New Prague | 20 |
| 2018-01-01 | Mayo Clinic Health... | Mayo Clinic Health System-Cannon Falls | Cannon Falls Medical Center - Mayo | 15 |
| 2016-08-01 | Cuyuna Regional Medical Center | Cuyuna Range Hospital District | Cuyuna Regional Medical Center | 25 |