Melrosewakefield Healthcare Inc
Medford, Middlesex County, MA
· CCN 220070
Licensed to Melrosewakefield Healthcare, Inc
Composite
52.5
rank score
Distress
50
FY2023
Fit
75
vs thesis
Estimated ticket
$68.0M–$272M
160 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- 30-60 days cash on hand
- debt above 70% of assets
- margin deteriorating
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $241M |
| Operating margin | -18.8% |
| Total margin | 15.5% |
| Days cash on hand | 33 |
| Current ratio | 1.74 |
| Occupancy | 63% |
Facility
| Beds | 160 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 160 | $195M | $52.2M | -18.7% | 18.4% | 15 | 1.11 | 55% | 7,269 | 56 |
| 2021 | 160 | $215M | $20.9M | -14.4% | 7.8% | 10 | 0.71 | 58% | 7,296 | 66 |
| 2022 | 160 | $217M | $-104M | -42.6% | -50.7% | 6 | 1.16 | 60% | 7,617 | 70 |
| 2023 | 160 | $241M | $52.7M | -18.8% | 15.5% | 33 | 1.74 | 63% | 7,829 | 50 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Wellforce Inc | 5% or greater indirect ownership interest | 100 | 2017-01 | |
| Charles Whipple | corporate officer | 2018-05 | ||
| Charles Whipple | w-2 managing employee | 2018-05 | ||
| Charles Whipple | operational/managerial control | 2018-05 | ||
| Courtney Mitchell | w-2 managing employee | 2019-12 | ||
| Tanya Thorpe | w-2 managing employee | 2022-10 | ||
| William Wyman | corporate officer | 2020-11 | ||
| William Wyman | w-2 managing employee | 2021-11 |
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 MA
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 |
|---|---|---|---|---|
| 2024-10-01 | Bmc Community Hospital Corporation | Steward Good Samaritan Medical Center, Inc. | Good Samaritan Medical Center | 208 |
| 2024-10-01 | Lg Newcorp Inc. | Steward Holy Family Hospital Inc | Steward Holy Family Hospital | 293 |
| 2024-10-01 | Lifespan Of Massachusetts - Fall River Inc | Steward St. Annes Hospital Corporation | Steward St. Annes Hospital | 154 |
| 2024-10-01 | Lifespan Of Massachusetts - Taunton Inc | Morton Hospital, A Steward Family... | Morton Hospital | 125 |
| 2024-10-01 | Bmc Community Hospital Corporation Ii | Steward St Elizabeths Medical... | Steward St. Elizabeths Medical Ctr | 244 |