Corewell Health Gerber
dba Corewell Health Gerber Hospital ·
Fremont, Newaygo County, MI
· CCN 231338
Licensed to Newaygo County General Hospital Association
Composite
33.1
rank score
Distress
25
FY2023
Fit
50
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
- current ratio under 1.5
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $122M |
| Operating margin | 12.4% |
| Total margin | 14.4% |
| Days cash on hand | 1 |
| Current ratio | 1.28 |
| Occupancy | 57% |
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 | $96.0M | $6.1M | 3.9% | 6.2% | 118 | 2.70 | 50% | 2,051 | 7 |
| 2021 | 25 | $115M | $19.4M | 15.0% | 16.6% | 108 | 3.30 | 58% | 1,520 | 7 |
| 2022 | 25 | $116M | $25.1M | 16.0% | 20.5% | 200 | 4.60 | 54% | 1,912 | 2 |
| 2023 | 25 | $122M | $18.0M | 12.4% | 14.4% | 1 | 1.28 | 57% | 1,732 | 25 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Drew Dostal | operational/managerial control | 100 | 2020-08 | |
| Annica Waalkes | corporate director | 2020-08 | ||
| Bill Pink | corporate director | 2020-08 | ||
| Christina Freese Decker | corporate officer | 2022-02 | ||
| Christopher Port | corporate director | 2020-08 | ||
| Corewell Health | 5% or greater indirect ownership interest | 2022-02 | chain | |
| Corewell Health | operational/managerial control | 2010-05 | chain | |
| Drew Dostal | corporate officer | 2020-08 | ||
| Johannie Torres | corporate director | 2020-08 | ||
| John Buckley | corporate director | 2011-10 | ||
| Lynnette Ferrell-Robinson | corporate director | 2020-08 | ||
| Mark Wilson | corporate director | 2020-08 | ||
| Mary Doornbos | corporate director | 2020-08 | ||
| Matthew Cox | corporate officer | 2022-11 | ||
| Matthew Cox | operational/managerial control | 2022-11 | ||
| Ronald Hofman | corporate director | 2020-08 | ||
| Sam Watson | corporate director | 2020-08 | ||
| Simin Beg | corporate director | 2020-08 | ||
| Talawnda Bragg | corporate director | 2022-01 | ||
| Tamila Marlow | w-2 managing employee | 2020-09 | ||
| Tamila Marlow | other | 2020-09 | ||
| Whitney Eckhoff | w-2 managing employee | 2023-10 | ||
| Whitney Eckhoff | other | 2023-10 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.