Altru Rehabilitation Hospital
Grand Forks, Grand Forks County, ND
· CCN 353027
Licensed to Rehabilitation Hospital Of Grand Forks, Llc
Composite
69.9
rank score
Distress
84
FY2023
Fit
75
vs thesis
Estimated ticket
$9.1M–$36.4M
40 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $15.3M |
| Operating margin | -18.3% |
| Total margin | -18.2% |
| Days cash on hand | 0 |
| Current ratio | -4.28 |
| Occupancy | 63% |
Facility
| Beds | 40 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $228K |
| Per-bed (high) | $910K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 40 | $15.3M | $-2.8M | -18.3% | -18.2% | 0 | -4.28 | 63% | 804 | 84 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Encompass Health Corporation | 5% or greater indirect ownership interest | 60 | 2021-05 | chain |
| Encompass Health Grand Forks Holdings, Llc | 5% or greater direct ownership interest | 60 | 2021-05 | |
| Encompass Health Joint Ventures Holdings, Llc | 5% or greater indirect ownership interest | 60 | 2021-05 | |
| Altru Health System | 5% or greater direct ownership interest | 40 | 2021-05 | |
| Vanguard Group Inc | 5% or greater indirect ownership interest | 6 | 2023-12 | |
| Blackrock Inc | 5% or greater indirect ownership interest | 5 | 2023-12 | |
| Carey Mcrae | operational/managerial control | 2025-01 | ||
| Carey Mcrae | other | 2025-01 | ||
| Encompass Health Corporation | operational/managerial control | 2021-05 | chain | |
| Lucas Lawrimore | w-2 managing employee | 2021-11 | ||
| Mark Tarr | operational/managerial control | 2021-05 | ||
| Robert Mccallum | operational/managerial control | 2025-01 | ||
| Robert Mccallum | other | 2025-01 |
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 ND
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 |
|---|---|---|---|---|
| 2020-10-01 | Pam Cubed Rehabilitation Hospital... | Cobalt Rehabilitation Hospital Fargo Llc | Pam Rehabilitation Hospital Of Fargo | 42 |