Glencoe Regional Health Services
Glencoe, MN
· CCN 241355
Licensed to Glencoe Regional Health Services
Composite
33.3
rank score
Distress
34
FY2023
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 60-90 days cash on hand
- occupancy 30-45%
- margin deteriorating
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $77.5M |
| Operating margin | -1.8% |
| Total margin | 6.9% |
| Days cash on hand | 68 |
| Current ratio | 3.00 |
| Occupancy | 30% |
Facility
| Beds | 25 |
| 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 | 25 | $59.5M | $6.5M | -6.7% | 9.3% | 79 | 2.83 | 35% | 889 | 38 |
| 2021 | 25 | $70.0M | $10.2M | 2.8% | 13.1% | 88 | 3.01 | 38% | 986 | 16 |
| 2022 | 25 | $71.3M | $-5.1M | -4.2% | -7.4% | 76 | 3.50 | 31% | 742 | 43 |
| 2023 | 25 | $77.5M | $5.8M | -1.8% | 6.9% | 68 | 3.00 | 30% | 816 | 34 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Angela Erickson | w-2 managing employee | 2019-02 | ||
| Benjamin Davis | corporate officer | 2023-05 | ||
| Benjamin Davis | w-2 managing employee | 2023-05 | ||
| Bryan Fritsch | other | 2016-01 | ||
| Bryan Petersen | other | 2017-01 | ||
| Heather Peirce | other | 2021-01 | ||
| Jill Hatlestad | w-2 managing employee | 2007-11 | ||
| Julie Schmidt | w-2 managing employee | 2007-11 | ||
| Kristen Budahn | other | 2024-01 | ||
| Kristine Knudten | other | 2012-01 | ||
| Lynn Beranek | w-2 managing employee | 2023-09 | ||
| Mary Stoltenburg | other | 2018-01 | ||
| Scott Kuehn | other | 2017-01 | ||
| Sean Tritabaugh | other | 2024-01 |
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 |