Welia Health
Mora, Kanabec County, MN
· CCN 241367
Licensed to Welia Health
Composite
31.1
rank score
Distress
29
FY2023
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- 90-150 days cash on hand
- occupancy 30-45%
- 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 | $107M |
| Operating margin | -7.6% |
| Total margin | 9.4% |
| Days cash on hand | 123 |
| Current ratio | 4.33 |
| Occupancy | 40% |
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 | $79.6M | $8.7M | -15.4% | 8.5% | 185 | 3.97 | 34% | 959 | 33 |
| 2021 | 25 | $52.8M | $13.4M | -0.2% | 19.6% | 305 | 5.18 | 58% | 420 | 18 |
| 2022 | 25 | $107M | $6.6M | 1.1% | 5.7% | 172 | 8.70 | 46% | 1,036 | 9 |
| 2023 | 25 | $107M | $12.1M | -7.6% | 9.4% | 123 | 4.33 | 40% | 1,297 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ellen Ryan | corporate officer | 20 | 1995-08 | |
| Joshua Asp | corporate officer | 20 | 2016-09 | |
| Julie Schmidt | corporate officer | 20 | 2019-07 | |
| Randy Ulseth | corporate officer | 20 | 2002-01 | |
| Sandra Zutz-Wiczek | corporate officer | 20 | 2015-01 | |
| Amy Anderson | corporate director | 11 | 2021-07 | |
| Carl Pederson | corporate director | 11 | 2021-07 | |
| Jack Schwinghamer | corporate director | 11 | 2021-07 | |
| Kim Smith | corporate director | 11 | 2021-07 | |
| Leslie Nielsen | corporate director | 11 | 2021-07 | |
| Mary Ellis | corporate director | 11 | 2021-07 | |
| Peter Donner | corporate director | 11 | 2021-07 | |
| Rebecca Steffen | corporate director | 11 | 2021-07 | |
| Theresa Heggernes | corporate director | 11 | 2021-07 | |
| Sheila Peterson | w-2 managing employee | 2021-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-07-01 | change of ownership | Welia Health | County Of Kanabec |
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 |