Spooner Health System
Spooner, Washburn County, WI
· CCN 521332
Licensed to Spooner Health System Inc
Composite
21.7
rank score
Distress
18
FY2024
Fit
34
vs thesis
Estimated ticket
$1.7M–$3.4M
20 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy below 30%
- margin deteriorating sharply
- 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 · FY2024
| Net patient revenue | $34.2M |
| Operating margin | 11.3% |
| Total margin | 11.5% |
| Days cash on hand | 504 |
| Current ratio | 9.22 |
| Occupancy | 17% |
Facility
| Beds | 20 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 20 | $27.4M | $9.1M | 2.4% | 25.3% | 255 | 2.06 | 21% | 269 | 9 |
| 2022 | 20 | $30.3M | $257K | 9.6% | 0.9% | 584 | 5.78 | 21% | 300 | 12 |
| 2023 | 20 | $33.4M | $-1.1M | 8.6% | -3.7% | 456 | 7.82 | 29% | 331 | 21 |
| 2024 | 20 | $34.2M | $4.0M | 11.3% | 11.5% | 504 | 9.22 | 17% | 301 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Rebecca Liljestrom | corporate officer | 50 | 2004-12 | |
| Brian Gaskill | corporate director | 2016-08 | ||
| Healthtech Management Services Inc | operational/managerial control | 2010-10 | ||
| Jamie Morales | corporate officer | 2014-10 | ||
| Mark Van Etten | corporate officer | 2009-07 | ||
| Matthew Thompson | corporate director | 2021-09 | ||
| Michael Schafer | corporate officer | 1990-07 | ||
| Michael Schafer | operational/managerial control | 1990-07 | ||
| Nicole Tims | corporate officer | 2021-07 | ||
| Nicole Tims | corporate director | 2020-10 | ||
| Rebecca Liljestrom | w-2 managing employee | 2004-12 | ||
| Susan Churchill | corporate director | 2020-06 | ||
| Timothy Reedy | corporate officer | 2020-07 | ||
| Timothy Reedy | corporate director | 2019-09 |
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 |
|---|---|---|---|---|
| 2018-01-01 | Mayo Clinic Health... | Mayo Clinic Health System -... | Mchs-Chippewa Valley | 25 |