Froedtert Mem. Lutheran Hospt.
Milwaukee, Milwaukee County, WI
· CCN 520177
Licensed to Froedtert Memorial Lutheran Hospital, Inc.
Composite
55.5
rank score
Distress
70
FY2024
Fit
60
vs thesis
Estimated ticket
$51.0M–$102M
729 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- margin deteriorating sharply
- rural — cheaper but limited density
- very large — likely out of range
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $1.4B |
| Operating margin | -77.4% |
| Total margin | -73.2% |
| Days cash on hand | 0 |
| Current ratio | 3.65 |
| Occupancy | 86% |
Facility
| Beds | 729 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 676 | $2.1B | $241M | 9.0% | 11.1% | 0 | 1.45 | 80% | 34,630 | 26 |
| 2022 | 685 | $2.2B | $126M | 4.1% | 5.6% | 0 | 2.48 | 85% | 35,741 | 22 |
| 2023 | 731 | $2.4B | $87.7M | 2.2% | 3.6% | 0 | 3.07 | 84% | 36,643 | 22 |
| 2024 | 729 | $1.4B | $-1.0B | -77.4% | -73.2% | 0 | 3.65 | 86% | 38,600 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Froedtert Thedacare Health, Inc. | operational/managerial control | 100 | 2000-12 | |
| Amanda Gonring | corporate director | 2026-02 | ||
| Andrew Kastenmeier | corporate director | 2025-07 | ||
| Austin Reeder | corporate director | 2025-02 | ||
| Austin Reeder | w-2 managing employee | 2025-02 | ||
| Barbara Slawski | corporate director | 2022-07 | ||
| Chris Xiong | corporate director | 2023-07 | ||
| Derek Mosley | corporate director | 2022-07 | ||
| Franklin Cumberbatch | corporate director | 2023-07 | ||
| Imran Andrabi | corporate director | 2024-07 | ||
| Jenna Walker | corporate director | 2024-11 | ||
| Jennifer Lopez | corporate director | 2023-07 | ||
| Kareeda Chones-Aguam | corporate director | 2022-07 | ||
| Lisa Vanlerberghe | corporate director | 2024-07 | ||
| Louis Butler | corporate director | 2017-07 | ||
| Mary Schroeder | corporate director | 2024-08 | ||
| Matthew Partridge | corporate officer | 2025-12 | ||
| Matthew Rinka | corporate director | 2019-07 | ||
| Paula Schmidt | corporate director | 2022-09 | ||
| Paula Schmidt | w-2 managing employee | 2022-09 | ||
| Sarah Bonewits-Feldner | corporate director | 2024-07 | ||
| Stephen Brenton | corporate director | 2019-07 |
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 |