Madelia Health
Madelia, Watonwan County, MN
· CCN 241323
Licensed to Madelia Health
Composite
52.9
rank score
Distress
81
FY2024
Fit
41
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- 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 | $17.8M |
| Operating margin | -24.6% |
| Total margin | -18.4% |
| Days cash on hand | 0 |
| Current ratio | 1.24 |
| Occupancy | 9% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $14.2M | $2.3M | -14.4% | 12.4% | 126 | 5.10 | 10% | 143 | 41 |
| 2022 | 25 | $16.5M | $-1.7M | -16.6% | -9.7% | 63 | 3.88 | 12% | 149 | 63 |
| 2023 | 25 | $17.8M | $-2.0M | -16.2% | -10.4% | 35 | 4.10 | 13% | 142 | 70 |
| 2024 | 25 | $17.8M | $-3.4M | -24.6% | -18.4% | 0 | 1.24 | 9% | 107 | 81 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| David Walz | corporate officer | 100 | 2023-01 | |
| David Walz | w-2 managing employee | 100 | 2023-01 | |
| Brent Christensen | corporate director | 2023-08 | ||
| Brian Mccabe | corporate director | 2015-01 | ||
| Elizabeth Schmidt | corporate director | 2018-11 | ||
| Jordan Richardson | corporate director | 2023-10 | ||
| Kenneth Gronewold | corporate director | 2017-11 | ||
| Norma Krumwiede | corporate director | 2016-11 | ||
| Ryan Visher | corporate director | 2017-11 | ||
| Steven Cooling | corporate director | 2016-11 | ||
| Steven Sorenson | corporate director | 2015-11 | ||
| Wendy Hennager | corporate director | 2021-02 |
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 |