Kittson Memorial Hospital
dba Kittson Memorial Healthcare Center ·
Hallock, Kittson County, MN
· CCN 241336
Licensed to Kittson Memorial Hospital Association
Composite
30.3
rank score
Distress
37
FY2023
Fit
34
vs thesis
Estimated ticket
$1.3M–$2.5M
15 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- 90-150 days cash on hand
- occupancy below 30%
- 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 · FY2023
| Net patient revenue | $15.0M |
| Operating margin | -18.8% |
| Total margin | 3.5% |
| Days cash on hand | 117 |
| Current ratio | 4.07 |
| Occupancy | 8% |
Facility
| Beds | 15 |
| 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 | 15 | $14.3M | $153K | -19.0% | 0.9% | 220 | 1.28 | 8% | 95 | 48 |
| 2021 | 15 | $14.8M | $4.3M | -22.1% | 19.3% | 181 | 2.25 | 10% | 53 | 37 |
| 2022 | 15 | $14.6M | $-657K | -28.0% | -3.7% | 135 | 2.74 | 8% | 51 | 53 |
| 2023 | 15 | $15.0M | $637K | -18.8% | 3.5% | 117 | 4.07 | 8% | 58 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrea Swenson | corporate officer | 2023-04 | ||
| Betty Younggren | corporate director | 2025-04 | ||
| Carlene Cole | w-2 managing employee | 1990-04 | ||
| Crisa Mortenson | w-2 managing employee | 2026-01 | ||
| George Hanson | corporate director | 2025-04 | ||
| Henry Escareno | corporate director | 2025-01 | ||
| Hugh Hunt | corporate director | 2019-01 | ||
| Kenny Hultgren | corporate director | 2023-02 | ||
| Michael Swanson | corporate director | 2022-07 | ||
| Samul Grandstrand | corporate director | 2025-04 | ||
| Sandy Wilson | corporate director | 2018-08 | ||
| Stacy Diamond | corporate director | 2023-02 |
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 |