Meeker County Memorial Hospital
dba Meeker Memorial Hospital ·
Litchfield, Meeker County, MN
· CCN 241366
Licensed to County Of Meeker
Composite
27.8
rank score
Distress
28
FY2023
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin negative
- 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
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $48.4M |
| Operating margin | -2.1% |
| Total margin | 5.6% |
| Days cash on hand | 257 |
| Current ratio | 15.29 |
| Occupancy | 28% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 | $40.6M | $4.9M | -4.5% | 10.3% | 272 | 3.75 | 27% | 563 | 24 |
| 2021 | 25 | $45.0M | $9.5M | 9.5% | 19.0% | 300 | 3.88 | 36% | 740 | 6 |
| 2022 | 25 | $48.0M | $1.7M | -0.6% | 3.4% | 222 | 2.37 | 27% | 673 | 24 |
| 2023 | 25 | $48.4M | $2.9M | -2.1% | 5.6% | 257 | 15.29 | 28% | 611 | 28 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| County Of Meeker | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Mary Ellen Wells | contracted managing employee | 2024-09 | ||
| Mary Ellen Wells | corporate officer | 2024-09 | ||
| Tyler Ulseth | corporate officer | 2024-09 | ||
| Tyler Ulseth | w-2 managing employee | 2024-09 |
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 |