Mosh
Franklin, Milwaukee County, WI
· CCN 520205
Licensed to Midwest Orthopedic Specialty Hospital, Llc
Composite
28.9
rank score
Distress
18
FY2023
Fit
52
vs thesis
Estimated ticket
$8.0M–$32.0M
16 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy below 30%
- margin deteriorating
- urban — higher occupancy and iteration surface
- very small facility
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $87.2M |
| Operating margin | 36.6% |
| Total margin | 37.3% |
| Days cash on hand | 113 |
| Current ratio | 4.01 |
| Occupancy | 21% |
Facility
| Beds | 16 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 | 16 | $63.9M | $26.3M | 37.9% | 39.9% | 175 | 2.45 | 32% | 999 | 6 |
| 2021 | 16 | $71.5M | $30.2M | 41.4% | 41.8% | 145 | 2.80 | 30% | 884 | 13 |
| 2022 | 16 | $78.4M | $29.7M | 37.0% | 37.5% | 120 | 3.15 | 26% | 668 | 13 |
| 2023 | 16 | $87.2M | $32.9M | 36.6% | 37.3% | 113 | 4.01 | 21% | 561 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Wheaton Franciscan Healthcare Southeast Wisconsin Inc | operational/managerial control | 100 | 2012-01 | |
| Midwest Orthopedic And Musculoskeletal Alliance, Llc | 5% or greater direct ownership interest | 50 | 2024-04 | |
| Wheaton Franciscan Healthcare Southeast Wisconsin Inc | 5% or greater direct ownership interest | 50 | 2012-01 | |
| Sp Holdco I Inc | 5% or greater indirect ownership interest | 31 | 2024-04 | |
| Surgery Center Holdings Inc | 5% or greater indirect ownership interest | 31 | 2024-04 | |
| Surgery Center Holdings Llc | 5% or greater indirect ownership interest | 31 | 2024-04 | |
| Surgery Partners Inc | 5% or greater indirect ownership interest | 31 | 2024-04 | |
| Bcpe Seminole Holdings Ii Intermediate Lp | 5% or greater indirect ownership interest | 7 | 2024-04 | |
| Ascension Health | operational/managerial control | 2016-03 | ||
| Brian Cramer | corporate director | 2024-07 | ||
| Daniel Jackson | corporate officer | 2024-01 | ||
| Jennifer Baldock | corporate director | 2025-10 | ||
| John Schneider | corporate director | 2016-11 | ||
| Jonathan Matuszewski | corporate director | 2024-04 | ||
| Michael Mccullough | corporate officer | 2024-10 | ||
| Michael Mccullough | w-2 managing employee | 2024-10 | ||
| Michael Mccullough | operational/managerial control | 2024-10 | ||
| Michael Ridgway | corporate director | 2024-07 | ||
| Rexanne Braun | w-2 managing employee | 2019-07 | ||
| Robin Barten | w-2 managing employee | 2024-11 | ||
| Sheila Gansemer | corporate officer | 2022-03 | ||
| Sheila Gansemer | w-2 managing employee | 2008-12 | ||
| Sheila Gansemer | operational/managerial control | 2022-03 | ||
| Stephanie Hietpas | w-2 managing employee | 2024-11 | ||
| William Pennington | corporate director | 2008-12 |
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 |