Ascension Allegan Hospital
dba Beacon Allegan ·
Allegan, Allegan County, MI
· CCN 231328
Licensed to Ascension Borgess Allegan Hospital
Composite
33.5
rank score
Distress
38
FY2024
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- liabilities exceed assets
- occupancy below 30%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $38.5M |
| Operating margin | 13.2% |
| Total margin | 15.9% |
| Days cash on hand | 20 |
| Current ratio | 1.87 |
| Occupancy | 21% |
Facility
| Beds | 25 |
| Facility type | CAH |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $14.6M | $-800K | -42.6% | -4.0% | 111 | 0.81 | 14% | 167 | 73 |
| 2021 | 25 | $38.0M | $-3.0M | -24.2% | -6.9% | 42 | 1.34 | 19% | 353 | 80 |
| 2022 | 25 | $39.3M | $-746K | -11.5% | -1.7% | 59 | 1.22 | 24% | 326 | 76 |
| 2023 | 25 | $40.9M | $2.6M | 1.8% | 6.0% | 74 | 1.78 | 28% | 319 | 37 |
| 2024 | 25 | $38.5M | $6.3M | 13.2% | 15.9% | 20 | 1.87 | 21% | 290 | 38 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Beacon Health System Inc | operational/managerial control | 2025-07 | ||
| Irene Maffetone | w-2 managing employee | 2025-07 | ||
| Jeffrey Costello | corporate director | 2025-07 | ||
| Jeffrey Costello | w-2 managing employee | 2025-07 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.