First Care Health Center
Park River, Walsh County, ND
· CCN 351326
Licensed to P R Health Corporation
Composite
24.4
rank score
Distress
16
FY2023
Fit
43
vs thesis
Estimated ticket
$1.2M–$2.4M
14 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- occupancy 45-60%
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $18.6M |
| Operating margin | -1.8% |
| Total margin | 8.4% |
| Days cash on hand | 236 |
| Current ratio | 6.14 |
| Occupancy | 50% |
Facility
| Beds | 14 |
| 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 | 14 | $15.5M | $1.2M | -3.4% | 7.0% | 302 | 3.15 | 48% | 247 | 18 |
| 2021 | 14 | $18.8M | $5.6M | 11.0% | 24.9% | 393 | 5.37 | 62% | 229 | 0 |
| 2022 | 14 | $17.9M | $864K | -2.2% | 4.5% | 332 | 8.08 | 65% | 259 | 16 |
| 2023 | 14 | $18.6M | $1.7M | -1.8% | 8.4% | 236 | 6.14 | 50% | 252 | 16 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ann Pohanka | corporate director | 2013-04 | ||
| Dennis Markusen | corporate director | 2015-01 | ||
| Eugene Bossert | corporate director | 2017-01 | ||
| Gale Beneda | corporate director | 2017-01 | ||
| Harold Myrdal | corporate director | 2013-04 | ||
| Katherine Hall | corporate director | 2019-01 | ||
| Loretta Monson | corporate director | 2014-04 | ||
| Lori Seim | w-2 managing employee | 2013-03 | ||
| Marcus Lewis | corporate officer | 2017-12 | ||
| Marcus Lewis | w-2 managing employee | 2017-12 | ||
| Mark Helgeson | corporate director | 2015-01 | ||
| Michael Helt | corporate director | 2018-01 | ||
| Nicolas Beneda | corporate director | 2019-01 | ||
| Nina Hollingsworth | w-2 managing employee | 2022-09 | ||
| Patty Dahlen | corporate director | 2018-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.