Altru Health System-Altru Hospital
Grand Forks, Grand Forks County, ND
· CCN 350019
Licensed to Altru Health System
Composite
35.6
rank score
Distress
24
FY2023
Fit
62
vs thesis
Estimated ticket
$19.8M–$39.6M
198 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- 90-150 days cash on hand
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $606M |
| Operating margin | -5.1% |
| Total margin | 8.5% |
| Days cash on hand | 130 |
| Current ratio | 3.52 |
| Occupancy | 63% |
Facility
| Beds | 198 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 247 | $521M | $45.9M | -9.6% | 7.4% | 219 | 3.19 | 51% | 9,540 | 24 |
| 2021 | 258 | $557M | $47.2M | -4.2% | 7.5% | 224 | 3.83 | 50% | 9,394 | 18 |
| 2022 | 258 | $564M | $-31.7M | -8.4% | -5.5% | 134 | 3.96 | 49% | 9,638 | 41 |
| 2023 | 198 | $606M | $59.5M | -5.1% | 8.5% | 130 | 3.52 | 63% | 10,160 | 24 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrew Sorbo | corporate director | 2023-01 | ||
| Courtney Mcnamee | w-2 managing employee | 2024-03 | ||
| Derek Goebel | corporate officer | 2023-01 | ||
| Derek Goebel | w-2 managing employee | 2023-01 | ||
| Eric Halverson | corporate director | 2020-12 | ||
| Erin Navarro | corporate director | 2018-07 | ||
| Jody Treuer | corporate director | 2019-09 | ||
| Joshua Deere | corporate director | 2022-09 | ||
| Karen Mclennan | corporate director | 2020-11 | ||
| Rebecca Novacek | corporate director | 2024-09 | ||
| Russel Crary | corporate director | 2023-01 | ||
| Scott Meyer | corporate director | 2023-12 | ||
| Tammy Peterson | corporate director | 2023-01 | ||
| Tod Forkel | corporate officer | 2022-02 | ||
| Tod Forkel | corporate director | 2022-02 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.