Orthopaedic Hospital Of Wisconsin
Glendale, Milwaukee County, WI
· CCN 520194
Licensed to Orthopaedic Hospital Of Wisconsin, Llc
Composite
32.3
rank score
Distress
22
FY2023
Fit
56
vs thesis
Estimated ticket
$15.0M–$60.0M
30 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $86.9M |
| Operating margin | 34.2% |
| Total margin | 34.9% |
| Days cash on hand | 146 |
| Current ratio | 5.23 |
| Occupancy | 14% |
Facility
| Beds | 30 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 30 | $73.5M | $30.4M | 37.9% | 40.0% | 147 | 6.47 | 22% | 1,282 | 13 |
| 2021 | 30 | $77.6M | $30.8M | 38.6% | 39.3% | 147 | 6.65 | 23% | 1,363 | 13 |
| 2022 | 30 | $80.2M | $28.9M | 35.1% | 35.7% | 129 | 6.15 | 19% | 1,158 | 13 |
| 2023 | 30 | $86.9M | $30.7M | 34.2% | 34.9% | 146 | 5.23 | 14% | 969 | 22 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Columbia St. Mary's, Inc | 5% or greater direct ownership interest | 50 | 2001-06 | |
| Orthopaedic Group Joint Venture Llc | 5% or greater direct ownership interest | 50 | 2001-06 | |
| Alexander Riordan | corporate director | 2020-01 | ||
| Brandon Goldbeck | w-2 managing employee | 2021-05 | ||
| David Kornreich | corporate director | 2015-12 | ||
| Kim Spiess | corporate officer | 2017-12 | ||
| Kim Spiess | w-2 managing employee | 2017-12 | ||
| Rory Wright | corporate director | 2010-09 |
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 |