Cook County Hospital District
dba North Shore Health ·
Grand Marais, Cook County, MN
· CCN 241317
Licensed to Cook County Hospital District
Composite
36.2
rank score
Distress
53
FY2023
Fit
31
vs thesis
Estimated ticket
$1.2M–$2.3M
16 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- 90-150 days cash on hand
- 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
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $21.0M |
| Operating margin | -10.0% |
| Total margin | -4.7% |
| Days cash on hand | 139 |
| Current ratio | 4.06 |
| Occupancy | 12% |
Facility
| Beds | 16 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 16 | $17.7M | $802K | -9.9% | 3.9% | 255 | 1.65 | 18% | 104 | 36 |
| 2021 | 16 | $19.5M | $3.8M | -2.8% | 15.8% | 191 | 4.61 | 20% | 146 | 24 |
| 2022 | 16 | $19.5M | $-656K | -11.5% | -3.1% | 177 | 4.62 | 15% | 101 | 49 |
| 2023 | 16 | $21.0M | $-1.0M | -10.0% | -4.7% | 139 | 4.06 | 12% | 206 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cook County Hospital District | operational/managerial control | 2009-09 | ||
| Kimber Wraalstad | w-2 managing employee | 2010-08 | ||
| Kimber Wraalstad | operational/managerial control | 2010-08 |
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 |