Innovis Health
Fargo, Cass County, ND
· CCN 350070
Licensed to Innovis Health Llc
Composite
52.2
rank score
Distress
61
FY2024
Fit
62
vs thesis
Estimated ticket
$12.1M–$24.1M
142 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current liabilities exceed current assets
- liabilities exceed assets
- margin deteriorating
- 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 · FY2024
| Net patient revenue | $582M |
| Operating margin | -1.9% |
| Total margin | 0.2% |
| Days cash on hand | 3 |
| Current ratio | 0.94 |
| Occupancy | 82% |
Facility
| Beds | 142 |
| Facility type | STH |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 149 | $426M | $15.3M | 0.7% | 3.5% | 27 | 1.20 | 67% | 7,647 | 43 |
| 2022 | 142 | $462M | $-12.0M | -4.4% | -2.5% | 5 | 0.95 | 79% | 7,327 | 66 |
| 2023 | 142 | $538M | $-16.2M | -5.3% | -2.9% | 0 | 0.84 | 87% | 8,389 | 72 |
| 2024 | 142 | $582M | $1.3M | -1.9% | 0.2% | 3 | 0.94 | 82% | 8,685 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Essentia Health | 5% or greater direct ownership interest | 100 | 2007-10 | |
| Alan Hurley | corporate officer | 2023-05 | ||
| Alan Hurley | w-2 managing employee | 2019-04 | ||
| Anderson Saint Georges | corporate director | 2025-01 | ||
| Benjamin Smith | corporate director | 2022-05 | ||
| Douglas Arvin | corporate officer | 2023-05 | ||
| Douglas Arvin | w-2 managing employee | 2023-05 | ||
| James Christensen | corporate director | 2020-02 | ||
| Kevin Boren | corporate officer | 2025-09 | ||
| Kimberly Pladson | corporate director | 2025-01 | ||
| Laurie Lewandowski | corporate director | 2017-01 | ||
| Marc Adams | corporate director | 2026-01 | ||
| Mark Krejci | corporate director | 2026-01 | ||
| Michael Watters | corporate officer | 2023-07 | ||
| Taylor Mertz | corporate director | 2022-05 | ||
| Tim Heilman | corporate director | 2020-02 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.