Froedtert South
Kenosha, Kenosha County, WI
· CCN 520021
Licensed to Froedtert South Inc
Composite
37.2
rank score
Distress
16
FY2024
Fit
75
vs thesis
Estimated ticket
$75.5M–$302M
151 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $398M |
| Operating margin | 2.2% |
| Total margin | 8.6% |
| Days cash on hand | 100 |
| Current ratio | 4.50 |
| Occupancy | 53% |
Facility
| Beds | 151 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 194 | $347M | $64.4M | 3.8% | 16.2% | 133 | 5.31 | 44% | 5,756 | 10 |
| 2022 | 228 | $372M | $-7.4M | 4.7% | -2.1% | 126 | 5.43 | 40% | 5,926 | 18 |
| 2023 | 173 | $372M | $31.6M | 3.9% | 8.1% | 146 | 5.72 | 43% | 5,173 | 10 |
| 2024 | 151 | $398M | $36.6M | 2.2% | 8.6% | 100 | 4.50 | 53% | 6,141 | 16 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bryan Albrecht | corporate director | 2021-10 | ||
| Catherine Jacobson | corporate director | 2017-10 | ||
| David Riley | corporate director | 2012-10 | ||
| Fenton Campbell | corporate officer | 2007-11 | ||
| Fenton Campbell | corporate director | 2007-11 | ||
| Gary Zaid | corporate director | 2016-10 | ||
| Harold Mayer | corporate officer | 2007-11 | ||
| Harold Mayer | corporate director | 2007-11 | ||
| Linda Wohlgemuth | corporate officer | 2010-10 | ||
| Linda Wohlgemuth | corporate director | 2010-10 | ||
| Linda Wohlgemuth | w-2 managing employee | 2010-10 | ||
| Mario Garretto | corporate director | 2016-10 | ||
| Mark Behl | corporate director | 2021-01 | ||
| Michael Gentile | corporate officer | 2019-01 | ||
| Michael Gentile | corporate director | 2019-01 | ||
| Michael Pitts | corporate director | 2018-04 | ||
| Richard Schmidt | corporate officer | 2007-11 | ||
| Richard Schmidt | corporate director | 2007-11 | ||
| Richard Schmidt | w-2 managing employee | 2010-11 | ||
| Robert Lee | corporate officer | 2010-10 | ||
| Robert Lee | corporate director | 2010-10 | ||
| Thomas Ambro | corporate director | 2016-10 | ||
| Thomas Kelley | corporate officer | 2011-07 | ||
| Thomas Kelley | corporate director | 2011-07 | ||
| Thomas Kelley | w-2 managing employee | 2011-07 |
Showing 25 of 27. Full list via /api/targets/520021.
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 WI
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 |
|---|---|---|---|---|
| 2022-04-01 | Columbia St Marys Hospital Milwaukee Inc | Columbia St Mary's Hospital Ozaukee, Inc. | Ascension Columbia St Marys Milwauke | 374 |
| 2018-06-01 | Ascension Se Wisconsin Hospital Inc | Wheaton Franciscan Healthcare -... | Ascension Se Wisconsin Hospital Inc | 301 |