Bronson South Haven Hospital
South Haven, Van Buren County, MI
· CCN 230085
Licensed to Bronson South Haven Hospital
Composite
28.2
rank score
Distress
20
FY2023
Fit
48
vs thesis
Estimated ticket
$800K–$1.6M
8 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- occupancy 45-60%
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $37.3M |
| Operating margin | -3.6% |
| Total margin | 3.7% |
| Days cash on hand | 105 |
| Current ratio | 5.45 |
| Occupancy | 52% |
Facility
| Beds | 8 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 49 | $26.3M | $-571K | -28.7% | -1.7% | 134 | 1.99 | 6% | 334 | 49 |
| 2021 | 8 | $31.6M | $-2.6M | -20.1% | -7.2% | 71 | 1.92 | 18% | 423 | 59 |
| 2022 | 8 | $34.5M | $936K | -11.9% | 2.4% | 100 | 4.47 | 54% | 495 | 34 |
| 2023 | 8 | $37.3M | $1.5M | -3.6% | 3.7% | 105 | 5.45 | 52% | 460 | 20 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bronson Health Care Group Inc | 5% or greater direct ownership interest | 100 | 2017-01 | |
| Bill Manns | corporate officer | 2020-01 | ||
| Brenda Hunt | corporate director | 2017-01 | ||
| Cheryl Johnson | corporate officer | 2021-01 | ||
| Donald Parfet | corporate director | 2017-01 | ||
| James Falahee | corporate officer | 2017-01 | ||
| James Falahee | w-2 managing employee | 2017-01 | ||
| James Liggins | corporate director | 2016-01 | ||
| Jorge Gonzalez | corporate director | 2018-01 | ||
| Lajune Montgomery-Tabron | corporate director | 2017-01 | ||
| Leigh Colegrove | w-2 managing employee | 2021-10 | ||
| Mahesh Karamchandani | corporate director | 2017-01 | ||
| Mary Fink | corporate director | 2017-01 | ||
| Michael Odar | corporate director | 2017-01 | ||
| Mike Way | corporate officer | 1986-01 | ||
| Neil Nyberg | corporate director | 2017-01 | ||
| Nelson Karre | corporate director | 2017-01 | ||
| Randall Eberts | corporate director | 2017-01 | ||
| Rebecca East | corporate officer | 2017-01 | ||
| Rebecca East | w-2 managing employee | 2017-01 | ||
| Richard Allen | corporate director | 2017-01 | ||
| Scott Gibson | corporate director | 2017-01 | ||
| Steven Lins | corporate director | 2017-01 | ||
| Susan Reinoehl | corporate officer | 1995-01 |
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 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 |