Beaver Dam Community Hospitals
dba Marshfield Medical Center - Beaver Dam ·
Beaver Dam, Dodge County, WI
· CCN 520076
Licensed to Beaver Dam Community Hospitals Inc.
Composite
60.8
rank score
Distress
90
FY2023
Fit
46
vs thesis
Estimated ticket
$3.0M–$6.0M
43 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- margin deteriorating sharply
- 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
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $96.3M |
| Operating margin | -40.8% |
| Total margin | -25.2% |
| Days cash on hand | 2 |
| Current ratio | 0.28 |
| Occupancy | 20% |
Facility
| Beds | 43 |
| 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 | 48 | $47.8M | $9.3M | -9.2% | 15.2% | 127 | 1.92 | 31% | 740 | 32 |
| 2021 | 48 | $94.9M | $513K | -18.5% | 0.5% | 32 | 2.35 | 27% | 1,338 | 57 |
| 2022 | 43 | $86.0M | $-42.6M | -46.8% | -43.7% | 26 | 4.10 | 23% | 1,219 | 76 |
| 2023 | 43 | $96.3M | $-27.3M | -40.8% | -25.2% | 2 | 0.28 | 20% | 1,138 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Marshfield Clinic Health System Inc | 5% or greater indirect ownership interest | 100 | 2019-05 | |
| Mchs Hospitals Inc | 5% or greater direct ownership interest | 100 | 2019-05 | |
| Sanford | 5% or greater indirect ownership interest | 100 | 2025-01 | chain |
| Brian Hoerneman | corporate officer | 2023-09 | ||
| Brian Hoerneman | corporate director | 2023-04 | ||
| 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 |