dealflow
envelope $200M

← Targets

Aurora Psychiatric Hospital

Wauwatosa, Milwaukee County, WI · CCN 524000
Licensed to Aurora Psychiatric Hospital Inc

Composite
64.1
rank score
Distress
73
FY2023
Fit
78
vs thesis
Estimated ticket
$17.1M–$68.5M
89 beds · within envelope
Ownership
nonprofit
PH

Why it ranks here

  • operating margin -10% to -5%
  • total margin -8% to -3%
  • under 30 days cash on hand
  • current ratio below 0.8
  • margin deteriorating sharply
  • urban — higher occupancy and iteration surface
  • specialty facility — narrower problem scope
  • bed count in the target band
  • ticket size somewhat below the envelope
  • strong occupancy — good iteration surface
  • nonprofit — expect AG conversion review

Latest financials · FY2023

Net patient revenue$45.5M
Operating margin -7.8%
Total margin -5.6%
Days cash on hand 0
Current ratio 0.77
Occupancy63%

Facility

Beds89
Facility typePH
Settingurban
Ownership classnonprofit
Per-bed (low) $192K
Per-bed (high) $770K

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2020 96 $43.2M $2.5M -7.2% 5.1% 14 1.98 64% 5,486 44
2021 96 $45.6M $-659K -10.7% -1.3% 11 2.34 66% 5,735 58
2022 89 $43.9M $-4.2M -12.7% -9.3% 0 1.08 64% 5,735 70
2023 89 $45.5M $-2.6M -7.8% -5.6% 0 0.77 63% 4,672 73

Owners

OwnerRole%SinceType
Advocate Aurora Health, Inc.
Milwaukee, WI
5% or greater indirect ownership interest 100 2018-04
Advocate Aurora Health, Inc.
Milwaukee, WI
operational/managerial control 100 2018-04
Aurora Health Care Metro, Inc.
Milwaukee, WI
5% or greater direct ownership interest 100 2010-06
Aurora Health Care Metro, Inc.
Milwaukee, WI
operational/managerial control 100 2010-06
Aurora Health Care, Inc.
Milwaukee, WI
5% or greater indirect ownership interest 100 1993-02
Advocate Health Inc
Charlotte, NC
operational/managerial control 2022-12
Aurora Health Care, Inc.
Milwaukee, WI
operational/managerial control 1993-02
Desiree Millet w-2 managing employee 2024-10
Gabrielle Finley-Hazle corporate officer 2023-12
Gabrielle Finley-Hazle corporate director 2023-12
Jessica Small corporate officer 2023-04
Jessica Small w-2 managing employee 2023-04
Kara Richardson corporate officer 2024-10
Lindsay Durgin corporate officer 2025-07
Rachel Halverson corporate officer 2023-06
Rachelle Hart corporate officer 2023-06
Tori Munnik w-2 managing employee 2024-10

Ownership changes

No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.