Aspirus Ironwood Hospital
Ironwood, Gogebic County, MI
· CCN 231333
Licensed to Aspirus Ironwood Hospital & Clinics Inc
Composite
34.2
rank score
Distress
36
FY2024
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin under 2%
- 30-60 days cash on hand
- 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 · FY2024
| Net patient revenue | $72.5M |
| Operating margin | 1.4% |
| Total margin | 7.0% |
| Days cash on hand | 46 |
| Current ratio | 3.22 |
| Occupancy | 39% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $61.4M | $13.2M | -0.3% | 17.7% | 91 | 3.56 | 36% | 686 | 26 |
| 2022 | 25 | $67.3M | $5.1M | 2.3% | 7.3% | 79 | 3.25 | 43% | 764 | 16 |
| 2023 | 25 | $65.4M | $4.3M | -3.5% | 6.0% | 24 | 2.82 | 40% | 783 | 43 |
| 2024 | 25 | $72.5M | $5.4M | 1.4% | 7.0% | 46 | 3.22 | 39% | 824 | 36 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Aspirus, Inc | 5% or greater direct ownership interest | 100 | 2015-07 | |
| Aspirus, Inc | operational/managerial control | 100 | 2015-07 | |
| Charly Loper | corporate director | 2023-10 | ||
| Christine Harff | corporate director | 2019-06 | ||
| Daniel Lukes | corporate director | 2019-10 | ||
| Hannah Goodman | corporate director | 2023-10 | ||
| James Richardson | corporate director | 2021-10 | ||
| Jennifer Redman-Schell | corporate director | 2019-10 | ||
| Jerry Yang | corporate director | 2024-02 | ||
| Jerry Yang | w-2 managing employee | 2024-02 | ||
| Jerry Yang | operational/managerial control | 2024-02 | ||
| John Matonich | corporate director | 2022-10 | ||
| John Pietila | corporate director | 2022-10 | ||
| Jonathan Brueggeman | corporate director | 2019-10 | ||
| Katie Clark | corporate director | 2019-10 | ||
| Kirk Schott | corporate director | 2019-10 | ||
| Kristen Meske | corporate director | 2020-10 | ||
| Lori Peck | corporate director | 2015-09 | ||
| Lori Peck | w-2 managing employee | 2015-09 | ||
| Lori Peck | operational/managerial control | 2015-09 | ||
| Matthew Heywood | corporate officer | 2013-07 | ||
| Matthew Heywood | w-2 managing employee | 2013-07 | ||
| Matthew Heywood | operational/managerial control | 2013-07 | ||
| Patrick Tincher | corporate director | 2020-10 | ||
| Paula Chermside | w-2 managing employee | 2013-01 |
Showing 25 of 31. Full list via /api/targets/231333.
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.