Trinity Health Muskegon
dba Trinity Health Muskegon Hospital ·
Muskegon, Muskegon County, MI
· CCN 230066
Licensed to Mercy Health Partners
Composite
57.3
rank score
Distress
69
FY2024
Fit
61
vs thesis
Estimated ticket
$25.2M–$50.5M
297 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- 30-60 days cash on hand
- current liabilities exceed current assets
- debt above 70% of assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- large — ticket likely stretches the envelope
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $684M |
| Operating margin | -10.5% |
| Total margin | -0.4% |
| Days cash on hand | 55 |
| Current ratio | 0.81 |
| Occupancy | 87% |
Facility
| Beds | 297 |
| Facility type | STH |
| 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 | 297 | $611M | $77.7M | -9.8% | 10.2% | 96 | 0.89 | 69% | 16,326 | 40 |
| 2022 | 297 | $642M | $-15.2M | -11.5% | -2.1% | 44 | 0.79 | 73% | 16,019 | 70 |
| 2023 | 297 | $621M | $-25.9M | -15.5% | -3.7% | 20 | 0.73 | 70% | 16,287 | 80 |
| 2024 | 297 | $684M | $-3.3M | -10.5% | -0.4% | 55 | 0.81 | 87% | 19,703 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Trinity Health Corporation | 5% or greater indirect ownership interest | 100 | 2008-04 | chain |
| Trinity Health-Michigan | 5% or greater indirect ownership interest | 100 | 2008-04 | |
| Christian Schafer | corporate officer | 2026-01 | ||
| Daniel Green | operational/managerial control | 2023-01 | ||
| Edmund Hodge | corporate director | 2019-01 | ||
| Eric Ferguson | corporate director | 2021-08 | ||
| Gary Allore | corporate officer | 2017-09 | ||
| Gary Allore | operational/managerial control | 2017-09 | ||
| Jean Nagelkerk | corporate officer | 2025-01 | ||
| Jean Nagelkerk | corporate director | 2019-01 | ||
| Joseph Fleck | corporate director | 2026-01 | ||
| Linda Werthman | corporate director | 2020-08 | ||
| Michael Gusho | contracted managing employee | 2018-01 | ||
| Michael Gusho | corporate officer | 2018-01 | ||
| Michael Williams | corporate director | 2025-01 | ||
| Paula Chermside | corporate director | 2026-01 | ||
| Sara Dolan | corporate director | 2025-01 | ||
| Shannon Striebich | corporate officer | 2024-07 | ||
| Shannon Striebich | corporate director | 2024-07 | ||
| Spencer Maidlow | corporate director | 2019-01 | ||
| Stuart Kilpinen | operational/managerial control | 2023-06 | ||
| Suzanne Mellon | corporate director | 2021-08 | ||
| Wayman Britt | corporate officer | 2019-03 | ||
| Wayman Britt | corporate director | 2019-03 | ||
| William Morris | corporate director | 2022-03 |
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 MI
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 |
|---|---|---|---|---|
| 2018-07-01 | St Joseph Mercy Chelsea Inc | Trinity Health-Michigan | Chelsea Hospital | 79 |