Bridges Medical Center
dba Essentia Health Ada ·
Ada, Norman County, MN
· CCN 241313
Licensed to Bridges Medical Center
Composite
21.7
rank score
Distress
18
FY2024
Fit
34
vs thesis
Estimated ticket
$1.2M–$2.4M
14 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $11.0M |
| Operating margin | 11.4% |
| Total margin | 23.7% |
| Days cash on hand | 262 |
| Current ratio | 14.80 |
| Occupancy | 5% |
Facility
| Beds | 14 |
| 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 | 14 | $8.1M | $3.4M | -0.1% | 29.8% | 0 | 0.54 | 7% | 42 | 60 |
| 2022 | 14 | $9.4M | $-210K | 4.7% | -2.1% | 2 | 4.63 | 5% | 58 | 39 |
| 2023 | 14 | $10.3M | $3.1M | 10.4% | 25.0% | 192 | 10.26 | 7% | 67 | 9 |
| 2024 | 14 | $11.0M | $3.0M | 11.4% | 23.7% | 262 | 14.80 | 5% | 66 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alan Hurley | w-2 managing employee | 2023-05 | ||
| Anderson Saint Georges | corporate director | 2025-01 | ||
| Benjamin Smith | corporate director | 2022-05 | ||
| Douglas Arvin | w-2 managing employee | 2023-05 | ||
| Erin Stoltman | w-2 managing employee | 2016-07 | ||
| Essentia Health | 5% or greater direct ownership interest | 2023-07 | ||
| Innovis Health Llc | operational/managerial control | 2017-01 | ||
| James Christensen | corporate director | 2020-01 | ||
| Kevin Boren | corporate officer | 2025-09 | ||
| Kimberly Pladson | corporate director | 2025-01 | ||
| Laurie Lewandowski | corporate director | 2017-01 | ||
| Marc Adams | corporate officer | 2026-01 | ||
| Mark Krejci | corporate officer | 2026-01 | ||
| 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 |
|---|---|---|---|---|
| 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 |