Brattleboro Retreat
Brattleboro, VT
· CCN 474001
Licensed to Brattleboro Retreat
Composite
28.9
rank score
Distress
9
FY2023
Fit
62
vs thesis
Estimated ticket
$6.2M–$12.4M
113 beds ·
within envelope
Ownership
nonprofit
PH
Why it ranks here
- 60-90 days cash on hand
- rural — cheaper but limited density
- specialty facility — narrower problem scope
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $96.4M |
| Operating margin | 5.8% |
| Total margin | 10.0% |
| Days cash on hand | 77 |
| Current ratio | 2.92 |
| Occupancy | 81% |
Facility
| Beds | 113 |
| Facility type | PH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $55.0K |
| Per-bed (high) | $110K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 119 | $49.1M | $-3.4M | -43.1% | -5.1% | 30 | 0.59 | 74% | 1,893 | 70 |
| 2021 | 108 | $42.4M | $9.8M | -40.2% | 14.1% | 67 | 0.81 | 53% | 1,048 | 49 |
| 2022 | 113 | $62.7M | $10.4M | -14.4% | 12.7% | 116 | 1.18 | 58% | 1,206 | 38 |
| 2023 | 113 | $96.4M | $10.1M | 5.8% | 10.0% | 77 | 2.92 | 81% | 1,759 | 9 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Jill Meschke | corporate officer | 2025-01 | ||
| Steven Cummings | corporate officer | 2026-02 | ||
| Steven Cummings | w-2 managing employee | 2026-02 | ||
| Steven Cummings | operational/managerial control | 2026-02 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.