Hendricks Community Hospital Assoc
dba Hendricks Commmuity Hospital ·
Hendricks, Lincoln County, MN
· CCN 241339
Licensed to Hendricks Community Hospital Assn & Retirement Home
Composite
28.0
rank score
Distress
32
FY2024
Fit
34
vs thesis
Estimated ticket
$2.0M–$4.1M
24 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 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 | $16.1M |
| Operating margin | -1.1% |
| Total margin | 7.0% |
| Days cash on hand | 365 |
| Current ratio | 11.64 |
| Occupancy | 11% |
Facility
| Beds | 24 |
| 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 | 24 | $14.2M | $5.4M | -2.8% | 27.1% | 318 | 7.25 | 9% | 51 | 24 |
| 2022 | 24 | $14.5M | $-218K | -8.2% | -1.4% | 274 | 11.18 | 10% | 57 | 39 |
| 2023 | 24 | $15.6M | $3.5M | -3.1% | 17.8% | 291 | 11.19 | 9% | 61 | 24 |
| 2024 | 24 | $16.1M | $1.2M | -1.1% | 7.0% | 365 | 11.64 | 11% | 56 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Travis Olsen | operational/managerial control | 100 | 2025-01 | |
| Allen Molascon | corporate director | 2005-07 | ||
| Amy Fier | corporate director | 2022-08 | ||
| Brittany Johnson | corporate director | 2022-08 | ||
| Dawn Popowski | corporate director | 2019-01 | ||
| Heather Shaw | corporate director | 2023-08 | ||
| James Ness | corporate director | 2015-08 | ||
| John Engels | corporate director | 2017-08 | ||
| Mark Vaneck | corporate director | 2005-07 | ||
| Travis Olsen | corporate officer | 2025-01 | ||
| Vince Robinson | corporate director | 2005-07 |
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 |