Goshen Hospital
dba Goshen General Hospital ·
Goshen, Elkhart County, IN
· CCN 150026
Licensed to Goshen Hospital Association Inc
Composite
69.6
rank score
Distress
80
FY2023
Fit
84
vs thesis
Estimated ticket
$36.8M–$147M
105 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $244M |
| Operating margin | -18.8% |
| Total margin | -5.2% |
| Days cash on hand | 1 |
| Current ratio | 0.77 |
| Occupancy | 48% |
Facility
| Beds | 105 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 109 | $238M | $37.2M | -7.8% | 12.7% | 54 | 2.10 | 53% | 4,661 | 41 |
| 2021 | 109 | $252M | $24.8M | -6.7% | 8.4% | 17 | 1.45 | 56% | 4,426 | 50 |
| 2022 | 103 | $248M | $-95.8M | -22.8% | -45.8% | 0 | 1.09 | 56% | 4,519 | 72 |
| 2023 | 105 | $244M | $-14.3M | -18.8% | -5.2% | 1 | 0.77 | 48% | 4,711 | 80 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Christine Wert | w-2 managing employee | 2007-01 | ||
| Lisa Wine | corporate officer | 2022-01 | ||
| Lisa Wine | w-2 managing employee | 2022-01 | ||
| Randal Christophel | corporate officer | 2012-02 | ||
| Randal Christophel | corporate director | 1995-11 | ||
| Trisa Schrock | w-2 managing employee | 2024-11 |
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 IN
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 |
|---|---|---|---|---|
| 2025-12-28 | Indiana University Health Inc | Indiana University Health North... | Indiana University Health | 1,274 |
| 2025-12-13 | Union Hospital Inc | Terre Haute Regional Hospital Lp | Union Hospital Inc. | 260 |
| 2025-07-01 | Parkview Logansport Hospital Inc | Memorial Hospital | Memorial Hospital Logansport | 37 |
| 2024-03-01 | Franciscan Health Michigan City | Franciscan Beacon Hospital, Llc | Franciscan Health Michigan City | 133 |
| 2020-11-01 | St Elizabeth Medical Center, Inc | Dearborn County Hospital | St Elizabeth Dearborn | 50 |
| 2019-07-16 | Reid Hospital & Health Care Services Inc | Fayette Memorial Hospital Association Inc | Reid Hospital & Health Care Services | 183 |