St. Josephs Comm. Hospt.
dba Froedtert West Bend Hospital ·
West Bend, Washington County, WI
· CCN 520063
Licensed to St Josephs Community Hospital Of West Bend Inc
Composite
57.5
rank score
Distress
62
FY2024
Fit
74
vs thesis
Estimated ticket
$29.8M–$119M
70 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- margin deteriorating
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $139M |
| Operating margin | -11.0% |
| Total margin | -3.4% |
| Days cash on hand | 0 |
| Current ratio | 3.22 |
| Occupancy | 61% |
Facility
| Beds | 70 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 70 | $124M | $-780K | -7.2% | -0.6% | 0 | 0.88 | 58% | 4,306 | 63 |
| 2022 | 70 | $403M | $247M | 63.8% | 62.9% | 0 | 1.35 | 64% | 4,229 | 26 |
| 2023 | 70 | $437M | $297M | 66.1% | 66.8% | 0 | 2.70 | 61% | 4,027 | 22 |
| 2024 | 70 | $139M | $-5.1M | -11.0% | -3.4% | 0 | 3.22 | 61% | 4,128 | 62 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Froedtert Thedacare Health, Inc. | 5% or greater direct ownership interest | 100 | 2008-07 | |
| Allen Ericson | corporate director | 2021-07 | ||
| Allen Ericson | w-2 managing employee | 2021-07 | ||
| Allen Ericson | operational/managerial control | 2021-07 | ||
| Amanda Gonring | corporate director | 2026-02 | ||
| Bryce Gartland | corporate director | 2025-07 | ||
| Carey Cameron | corporate director | 2023-09 | ||
| David Ertmer | corporate director | 2025-07 | ||
| Jennifer Wimmer | corporate director | 2025-07 | ||
| Mark Semrad | corporate director | 2024-07 | ||
| Matthew Partridge | corporate officer | 2025-12 | ||
| Matthew Weston | corporate officer | 2022-07 | ||
| Michael Degere | corporate director | 2023-07 | ||
| Michael Nowack | corporate director | 2025-07 | ||
| Michelle Arneson | corporate director | 2023-07 | ||
| Patrick Patton | corporate director | 2023-07 | ||
| Peter Rettler | corporate director | 2017-07 | ||
| Shelly Waala | corporate director | 2017-01 | ||
| Steven Volkert | corporate director | 2017-08 | ||
| Susanne Bartow | corporate director | 2023-07 | ||
| Tracy Haas | corporate director | 2025-07 |
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 |