Mclaren Central Michigan
Mt Pleasant, Isabella County, MI
· CCN 230080
Licensed to Mclaren Central Michigan
Composite
59.1
rank score
Distress
87
FY2023
Fit
50
vs thesis
Estimated ticket
$2.9M–$5.7M
41 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $116M |
| Operating margin | -41.2% |
| Total margin | -12.5% |
| Days cash on hand | 0 |
| Current ratio | 0.74 |
| Occupancy | 44% |
Facility
| Beds | 41 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 49 | $70.8M | $-1.5M | -19.8% | -1.8% | 69 | 1.01 | 41% | 2,227 | 54 |
| 2021 | 49 | $112M | $-27.1M | -30.9% | -22.6% | 0 | 0.80 | 40% | 2,008 | 86 |
| 2022 | 49 | $119M | $-27.7M | -35.3% | -20.8% | 0 | 0.86 | 40% | 1,833 | 81 |
| 2023 | 41 | $116M | $-18.1M | -41.2% | -12.5% | 0 | 0.74 | 44% | 1,845 | 87 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Mclaren Health Care Corporation | 5% or greater direct ownership interest | 100 | 2010-09 | |
| Ashok Vashishta | corporate director | 2007-02 | ||
| Bryan Wieferich | corporate director | 2024-03 | ||
| Chad Grant | corporate director | 2022-03 | ||
| Cindy Jacobs | corporate director | 2023-03 | ||
| Daniel Boge | corporate director | 2009-01 | ||
| Douglas Ouellette | corporate director | 2016-02 | ||
| Erik Rodriguez | corporate director | 2024-03 | ||
| Kyle Gilde | corporate director | 2026-03 | ||
| Lori Rogers | corporate director | 2023-03 | ||
| Matthew Romashko | corporate director | 2022-03 | ||
| Michael Swirtz | corporate director | 2014-02 | ||
| Pamela Myler | corporate director | 2012-02 | ||
| Philip Incarnati | other | 2010-09 | ||
| Robert David | corporate officer | 2022-01 | ||
| Robert David | corporate director | 2022-01 | ||
| Robert David | operational/managerial control | 2022-01 | ||
| Tara Soules | corporate officer | 2016-03 | ||
| Tara Soules | w-2 managing employee | 2016-03 | ||
| Tara Soules | operational/managerial control | 2016-03 | ||
| Vicki Tuma | corporate director | 2021-02 |
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 |