Door County Memorial Hospital
dba Door County Medical Center ·
Sturgeon Bay, Door County, WI
· CCN 521358
Licensed to Door County Memorial Hospital
Composite
37.8
rank score
Distress
44
FY2024
Fit
45
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 30-60 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $111M |
| Operating margin | -2.1% |
| Total margin | 8.3% |
| Days cash on hand | 34 |
| Current ratio | 2.88 |
| Occupancy | 40% |
Facility
| Beds | 25 |
| 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 | 25 | $94.5M | $15.4M | 1.2% | 14.2% | 99 | 1.76 | 49% | 929 | 13 |
| 2022 | 25 | $112M | $6.5M | 7.6% | 5.5% | 80 | 3.13 | 59% | 933 | 12 |
| 2023 | 25 | $106M | $5.9M | -2.7% | 5.3% | 28 | 2.52 | 50% | 1,099 | 40 |
| 2024 | 25 | $111M | $10.3M | -2.1% | 8.3% | 34 | 2.88 | 40% | 856 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| St Vincent Hospital-Hospital Sisters-Third Order Of St Francis | operational/managerial control | 40 | 2016-11 | |
| Andrew Laluzerne | corporate officer | 2018-10 | ||
| Andrew Richmond | corporate director | 2017-10 | ||
| Bradley Andreae | corporate director | 2024-01 | ||
| Brian Stephens | corporate officer | 2019-01 | ||
| Brian Stephens | operational/managerial control | 2019-01 | ||
| Corwin Dahl | corporate director | 2021-01 | ||
| Dorene Dempster | corporate director | 2019-01 | ||
| Edgar Collison | corporate director | 2025-05 | ||
| Erin Helgeson | corporate director | 2024-01 | ||
| Jamie Alberts | corporate director | 2021-01 | ||
| Jeffrey Rabas | corporate director | 2022-01 | ||
| Joel Kitchens | corporate director | 2021-01 | ||
| Jonathan Jarosh | corporate director | 2024-01 | ||
| Joseph Rebhan | corporate director | 2026-01 | ||
| Martha Ziegelbauer | corporate director | 2022-01 | ||
| Michael St Jean | corporate director | 2025-01 | ||
| Patricia Vickman | corporate director | 2017-10 | ||
| Pauline Helm | corporate director | 2023-01 | ||
| Robert Erickson | corporate director | 2024-05 | ||
| Tammy Sternard | corporate director | 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 |