Pipestone County Medical Center
Pipestone, Pipestone County, MN
· CCN 241374
Licensed to Pipestone County Medical Center
Composite
33.1
rank score
Distress
46
FY2024
Fit
31
vs thesis
Estimated ticket
$1.5M–$3.1M
18 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $35.8M |
| Operating margin | -11.7% |
| Total margin | 1.3% |
| Days cash on hand | 305 |
| Current ratio | 8.73 |
| Occupancy | 19% |
Facility
| Beds | 18 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 18 | $32.0M | $8.5M | -5.8% | 20.0% | 337 | 8.39 | 20% | 376 | 31 |
| 2022 | 18 | $35.7M | $2.1M | -4.8% | 5.3% | 327 | 3.49 | 23% | 428 | 24 |
| 2023 | 18 | $35.4M | $-2.2M | -15.4% | -5.6% | 278 | 8.69 | 19% | 363 | 49 |
| 2024 | 18 | $35.8M | $529K | -11.7% | 1.3% | 305 | 8.73 | 19% | 349 | 46 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| County Of Pipestone | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Betty Anderson | w-2 managing employee | 1995-10 | ||
| Bradley Burris | corporate director | 2006-09 | ||
| County Of Pipestone | operational/managerial control | 1966-01 | ||
| Gina Vangsness | w-2 managing employee | 2018-10 | ||
| Sandra Schlechter | w-2 managing employee | 2019-07 |
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 |