Pine Medical Center
dba Essentia Health Sandstone ·
Sandstone, Pine County, MN
· CCN 241309
Licensed to Pine Medical Center
Composite
31.0
rank score
Distress
35
FY2024
Fit
38
vs thesis
Estimated ticket
$765K–$1.5M
9 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- 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 · FY2024
| Net patient revenue | $23.7M |
| Operating margin | 4.3% |
| Total margin | 8.5% |
| Days cash on hand | 28 |
| Current ratio | 3.26 |
| Occupancy | 36% |
Facility
| Beds | 9 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 9 | $20.0M | $3.9M | 7.8% | 17.5% | 35 | 1.09 | 31% | 211 | 30 |
| 2022 | 9 | $20.6M | $690K | 4.0% | 3.4% | 52 | 1.51 | 35% | 201 | 22 |
| 2023 | 9 | $22.2M | $1.6M | 3.0% | 7.0% | 27 | 2.54 | 35% | 201 | 28 |
| 2024 | 9 | $23.7M | $2.1M | 4.3% | 8.5% | 28 | 3.26 | 36% | 204 | 35 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Essentia Health | 5% or greater direct ownership interest | 100 | 2023-07 | |
| St Marys Duluth Clinic Health System | operational/managerial control | 100 | 1997-09 | |
| Adam Bachand | corporate director | 2025-01 | ||
| Anthony Sertich | corporate director | 2021-01 | ||
| Anthony Yung | corporate director | 2023-01 | ||
| Bruce Smith | corporate director | 2026-01 | ||
| Justin Terch | corporate director | 2025-10 | ||
| Kevin Boren | corporate officer | 2021-08 | ||
| Kevin Boren | w-2 managing employee | 2021-08 | ||
| Krista Skorupa | corporate officer | 2024-05 | ||
| Michael Watters | corporate officer | 2023-07 | ||
| Nancy Aronson Norr | corporate director | 2025-01 | ||
| Rebecca Urbanski | corporate director | 2025-01 | ||
| Sam Barney | w-2 managing employee | 2023-08 | ||
| 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 |
|---|---|---|---|---|
| 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 |