dealflow
envelope $200M

← Targets

Aurora Medical Center Oshkosh

Oshkosh, Winnebago County, WI · CCN 520198
Licensed to Aurora Medical Center Of Oshkosh Inc

Composite
29.6
rank score
Distress
17
FY2023
Fit
55
vs thesis
Estimated ticket
$8.3M–$16.6M
83 beds · within envelope
Ownership
nonprofit
STH

Why it ranks here

  • current ratio below 0.8
  • occupancy 45-60%
  • margin slipping
  • rural — cheaper but limited density
  • bed count in the target band
  • very small ticket — sub-scale as a platform asset
  • moderate occupancy
  • nonprofit — expect AG conversion review

Latest financials · FY2023

Net patient revenue$231M
Operating margin 15.2%
Total margin 17.8%
Days cash on hand 740
Current ratio -0.29
Occupancy50%

Facility

Beds83
Facility typeSTH
Settingrural
Ownership classnonprofit
Per-bed (low) $100K
Per-bed (high) $200K

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2020 79 $189M $35.5M 14.7% 18.1% 660 21.74 55% 4,009 2
2021 79 $217M $49.0M 21.7% 22.4% 726 19.20 56% 3,902 2
2022 79 $222M $44.2M 17.9% 19.5% 700 12.30 52% 3,388 2
2023 83 $231M $42.6M 15.2% 17.8% 740 -0.29 50% 3,332 17

Owners

OwnerRole%SinceType
Advocate Aurora Health, Inc.
Milwaukee, WI
5% or greater indirect ownership interest 100 2018-04
Advocate Aurora Health, Inc.
Milwaukee, WI
operational/managerial control 100 2018-04
Advocate Health Inc
Charlotte, NC
operational/managerial control 2022-12
Aurora Health Care North Inc
Two Rivers, WI
5% or greater indirect ownership interest 2010-09
Aurora Health Care North Inc
Two Rivers, WI
operational/managerial control 2010-09
Aurora Health Care, Inc.
Milwaukee, WI
5% or greater indirect ownership interest 2003-10
Aurora Health Care, Inc.
Milwaukee, WI
operational/managerial control 2003-10
Desiree Millet w-2 managing employee 2024-10
Gabrielle Finley-Hazle corporate officer 2023-12
Gabrielle Finley-Hazle corporate director 2023-12
Jeffrey Bard corporate officer 2015-03
Jeffrey Bard w-2 managing employee 2023-10
Kara Richardson corporate officer 2025-02
Lindsay Durgin corporate officer 2025-07
Rachel Halverson corporate officer 2023-06
Rachelle Hart corporate officer 2013-10
Tori Munnik w-2 managing employee 2024-10

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.

DateBuyerSellerHospitalBeds
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