First Care Medical Services
dba Essentia Health Fosston ·
Fosston, Polk County, MN
· CCN 241357
Licensed to First Care Medical Services
Composite
29.5
rank score
Distress
29
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 30-60 days cash on hand
- occupancy below 30%
- margin deteriorating
- 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 | $31.1M |
| Operating margin | 3.9% |
| Total margin | 12.7% |
| Days cash on hand | 48 |
| Current ratio | 5.14 |
| Occupancy | 16% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $29.2M | $5.3M | 10.0% | 16.8% | 42 | 1.59 | 21% | 346 | 26 |
| 2022 | 25 | $29.1M | $-494K | -1.6% | -1.7% | 53 | 3.78 | 15% | 318 | 49 |
| 2023 | 25 | $30.4M | $2.5M | 1.6% | 7.6% | 40 | 6.04 | 12% | 206 | 32 |
| 2024 | 25 | $31.1M | $4.4M | 3.9% | 12.7% | 48 | 5.14 | 16% | 270 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Aarick Jackson | corporate director | 2020-01 | ||
| Alan Hurley | corporate officer | 2023-05 | ||
| Alan Hurley | w-2 managing employee | 2023-05 | ||
| Benjamin Smith | corporate director | 2022-05 | ||
| Beverly Horn | corporate director | 2017-01 | ||
| Douglas Arvin | corporate officer | 2023-05 | ||
| Douglas Arvin | w-2 managing employee | 2023-05 | ||
| Innovis Health Llc | operational/managerial control | 2017-01 | ||
| James Christensen | corporate director | 2020-01 | ||
| Joel Haugen | corporate director | 2017-01 | ||
| Laurie Lewandowski | corporate director | 2017-01 | ||
| Mark Finstad | corporate director | 2022-02 | ||
| Michael Watters | corporate director | 2023-07 | ||
| Stefanie Gefroh Ellison | corporate officer | 2024-08 | ||
| Taylor Mertz | corporate director | 2022-05 | ||
| Tim Heilman | corporate director | 2020-01 |
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 |