Sanford Thief River Falls
Thief River Falls, Pennington County, MN
· CCN 241381
Licensed to Sanford Health Network North
Composite
24.3
rank score
Distress
18
FY2023
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- occupancy below 30%
- 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 · FY2023
| Net patient revenue | $71.5M |
| Operating margin | 0.9% |
| Total margin | 17.5% |
| Days cash on hand | — |
| Current ratio | 6.08 |
| Occupancy | 28% |
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 | $66.2M | $12.8M | 2.3% | 16.5% | 3 | 6.32 | 44% | 904 | 28 |
| 2021 | 25 | $74.3M | $17.3M | 10.9% | 20.7% | 3 | 3.74 | 42% | 911 | 28 |
| 2022 | 25 | $74.0M | $15.2M | 7.8% | 18.2% | 0 | 7.45 | 42% | 783 | 28 |
| 2023 | 25 | $71.5M | $15.0M | 0.9% | 17.5% | — | 6.08 | 28% | 611 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Sanford | 5% or greater indirect ownership interest | 100 | 2011-03 | |
| Sanford North | 5% or greater direct ownership interest | 100 | 2011-03 | |
| Andrew North | corporate officer | 2020-01 | ||
| Andrew North | corporate director | 2017-01 | ||
| Brent Teiken | corporate director | 2010-09 | ||
| Dana Dykhouse | corporate director | 2024-01 | ||
| David Shulkin | corporate director | 2024-01 | ||
| Douglas Griffin | w-2 managing employee | 2022-09 | ||
| George Brown | corporate officer | 2025-01 | ||
| George Brown | corporate director | 2025-01 | ||
| Jolyn Munson | w-2 managing employee | 2025-04 | ||
| Kevin Schieffer | corporate director | 2025-01 | ||
| Kristin Herrmann | w-2 managing employee | 2022-04 | ||
| Lauris Molbert | corporate director | 2021-01 | ||
| Mark Lundeen | corporate director | 2014-11 | ||
| Marnie Ventling-Herrmann | corporate officer | 2024-01 | ||
| Marnie Ventling-Herrmann | corporate director | 2022-01 | ||
| Maureen Mccausland | corporate director | 2025-01 | ||
| Neil Gulsvig | corporate director | 2019-03 | ||
| Nicholas Olson | w-2 managing employee | 2024-04 | ||
| Stephanie Herseth Sandlin | corporate director | 2024-01 | ||
| Susan Jarvis | corporate officer | 2023-01 | ||
| Susan Jarvis | w-2 managing employee | 2023-01 | ||
| Thomas Wenzel | corporate director | 2025-01 | ||
| Tony Morrison | w-2 managing employee | 2020-01 |
Showing 25 of 28. Full list via /api/targets/241381.
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 |