Tioga Medical Center
Tioga, Williams County, ND
· CCN 351300
Licensed to Tioga Medical Center
Composite
35.8
rank score
Distress
43
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- occupancy below 30%
- margin deteriorating sharply
- 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 · FY2024
| Net patient revenue | $16.9M |
| Operating margin | -10.6% |
| Total margin | 3.3% |
| Days cash on hand | 154 |
| Current ratio | 8.93 |
| Occupancy | 19% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $14.3M | $2.2M | -6.7% | 12.6% | 207 | 1.90 | 23% | 172 | 31 |
| 2022 | 25 | $16.0M | $179K | -5.1% | 1.1% | 130 | 4.86 | 20% | 168 | 39 |
| 2023 | 25 | $16.1M | $3.1M | -8.7% | 15.0% | 102 | 8.17 | 22% | 172 | 36 |
| 2024 | 25 | $16.9M | $632K | -10.6% | 3.3% | 154 | 8.93 | 19% | 138 | 43 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Jamie Eraas | corporate officer | 100 | 2023-01 | |
| Brodie Odegaard | corporate director | 2017-03 | ||
| James Booth | corporate director | 2013-03 | ||
| Jamie Eraas | w-2 managing employee | 2021-11 | ||
| Jeremy Becker | corporate director | 2019-04 | ||
| Kristopher Kuehn | corporate director | 2023-03 | ||
| Lee Olson | corporate director | 2017-03 | ||
| Nathan Germundson | corporate director | 2020-04 | ||
| Patrick Joyce | corporate director | 2023-03 | ||
| Seth Wisthoff | corporate director | 2019-03 | ||
| Wendy Lenzen | corporate director | 2022-03 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.