Marshfield Medical Center
Marshfield, WI
· CCN 520037
Licensed to Mchs Hospitals Inc
Composite
58.6
rank score
Distress
71
FY2023
Fit
62
vs thesis
Estimated ticket
$15.1M–$30.1M
215 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- liabilities exceed assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $765M |
| Operating margin | -9.0% |
| Total margin | -6.3% |
| Days cash on hand | 0 |
| Current ratio | 8.21 |
| Occupancy | 84% |
Facility
| Beds | 215 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 184 | $677M | $16.4M | -6.8% | 2.2% | 190 | 4.14 | 86% | 10,856 | 22 |
| 2021 | 195 | $779M | $10.0M | -7.3% | 1.2% | 15 | 4.07 | 97% | 12,336 | 48 |
| 2022 | 194 | $766M | $-61.9M | -13.0% | -7.7% | 0 | 58.46 | 96% | 11,001 | 62 |
| 2023 | 215 | $765M | $-49.4M | -9.0% | -6.3% | 0 | 8.21 | 84% | 11,681 | 71 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Marshfield Clinic Health System Inc | 5% or greater direct ownership interest | 100 | 2015-12 | |
| Sanford | 5% or greater indirect ownership interest | 100 | 2025-01 | chain |
| Brian Hoerneman | corporate officer | 2023-04 | ||
| Brian Hoerneman | corporate director | 2023-09 | ||
| Dennis Smith | corporate director | 2025-01 | ||
| Douglas Mathison | corporate director | 2020-12 | ||
| Edward Fernandez | corporate officer | 2025-01 | ||
| Edward Fernandez | corporate director | 2023-09 | ||
| Everett Newcomb | corporate director | 2024-09 | ||
| Jeffrey Poppen | corporate officer | 2025-06 | ||
| Jeffrey Poppen | w-2 managing employee | 2025-06 | ||
| John Baltus | corporate officer | 2023-09 | ||
| John Baltus | corporate director | 2016-02 | ||
| Jolyn Munson | w-2 managing employee | 2025-01 | ||
| Linda Procci | corporate director | 2025-02 | ||
| Nicholas Olson | w-2 managing employee | 2025-01 | ||
| Samantha Klebe | corporate director | 2023-09 | ||
| Samantha Klebe | w-2 managing employee | 2025-01 | ||
| Tony Morrison | w-2 managing employee | 2025-01 |
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 |