Glacial Ridge Hospital
Glenwood, Pope County, MN
· CCN 241376
Licensed to Glacial Ridge Hospital District
Composite
33.8
rank score
Distress
44
FY2023
Fit
35
vs thesis
Estimated ticket
$1.6M–$3.2M
19 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin negative
- 90-150 days cash on hand
- occupancy 30-45%
- margin slipping
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $47.4M |
| Operating margin | -11.9% |
| Total margin | -0.8% |
| Days cash on hand | 146 |
| Current ratio | 5.07 |
| Occupancy | 36% |
Facility
| Beds | 19 |
| 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 | 19 | $41.8M | $432K | -9.4% | 0.9% | 156 | 2.02 | 36% | 354 | 36 |
| 2021 | 19 | $45.6M | $8.8M | -7.7% | 15.2% | 175 | 3.68 | 44% | 411 | 28 |
| 2022 | 19 | $46.9M | $1.2M | -5.3% | 2.3% | 108 | 4.74 | 40% | 411 | 32 |
| 2023 | 19 | $47.4M | $-395K | -11.9% | -0.8% | 146 | 5.07 | 36% | 433 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kirk Stensrud | corporate director | 2006-01 | ||
| Kyle Chase | corporate director | 2010-08 | ||
| Kyle Chase | w-2 managing employee | 2010-08 |
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 |