Flambeau Hospital Mchs
dba Marshfield Medical Center - Park Falls ·
Park Falls, Price County, WI
· CCN 521325
Licensed to Flambeau Hospital, Inc.
Composite
32.6
rank score
Distress
38
FY2023
Fit
34
vs thesis
Estimated ticket
$2.0M–$4.1M
24 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very small facility
- 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 | $40.8M |
| Operating margin | 7.5% |
| Total margin | 9.3% |
| Days cash on hand | 0 |
| Current ratio | 11.23 |
| Occupancy | 19% |
Facility
| Beds | 24 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 24 | $15.6M | $4.1M | 19.5% | 24.5% | 452 | 1.85 | 23% | 243 | 9 |
| 2021 | 25 | $44.1M | $10.3M | 20.2% | 22.7% | 12 | 1.12 | 22% | 452 | 34 |
| 2022 | 24 | $39.0M | $2.2M | 1.2% | 5.4% | 4 | 15.25 | 22% | 422 | 38 |
| 2023 | 24 | $40.8M | $3.9M | 7.5% | 9.3% | 0 | 11.23 | 19% | 350 | 38 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Marshfield Clinic Health System Inc | 5% or greater indirect ownership interest | 100 | 2020-08 | |
| Mchs Hospitals Inc | 5% or greater direct ownership interest | 100 | 2020-08 | |
| Sanford | 5% or greater indirect ownership interest | 100 | 2025-01 | chain |
| Brian Hoerneman | corporate officer | 2023-04 | ||
| Brian Hoerneman | corporate director | 2023-09 | ||
| 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 |
|---|---|---|---|---|
| 2018-01-01 | Mayo Clinic Health... | Mayo Clinic Health System -... | Mchs-Chippewa Valley | 25 |