Marshfield Medical Center-Ladysmith
dba Marshfield Medical Center - Ladysmith ·
Ladysmith, Rusk County, WI
· CCN 521328
Licensed to Mchs Hospitals Inc
Composite
53.8
rank score
Distress
79
FY2023
Fit
41
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- liabilities exceed assets
- occupancy below 30%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- 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 | $33.4M |
| Operating margin | -8.5% |
| Total margin | -6.4% |
| Days cash on hand | 10 |
| Current ratio | 8.21 |
| Occupancy | 12% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $30.5M | $1.3M | 3.4% | 4.2% | 4,489 | 4.14 | 13% | 175 | 9 |
| 2021 | 25 | $33.6M | $2.8M | 7.9% | 8.2% | 391 | 4.07 | 14% | 189 | 9 |
| 2022 | 25 | $31.8M | $416K | -3.5% | 1.2% | 12 | 58.46 | 16% | 198 | 50 |
| 2023 | 25 | $33.4M | $-2.2M | -8.5% | -6.4% | 10 | 8.21 | 12% | 179 | 79 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Marshfield Clinic Health System Inc | 5% or greater direct ownership interest | 100 | 2015-12 | |
| 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 |