Encompass Health Lakeshore Rehabilit
dba Encompass Health Lakeshore Rehabilitation Hospital ·
Birmingham, Jefferson County, AL
· CCN 013025
Licensed to Rebound Llc
Composite
58.1
rank score
Distress
53
FY2023
Fit
81
vs thesis
Estimated ticket
$27.6M–$110M
100 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- 30-60 days cash on hand
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- 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
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $49.2M |
| Operating margin | -11.9% |
| Total margin | 1.7% |
| Days cash on hand | 34 |
| Current ratio | 2.48 |
| Occupancy | 90% |
Facility
| Beds | 100 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $276K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 100 | $45.5M | $7.1M | 16.0% | 15.6% | 121 | 5.48 | 88% | 2,656 | 4 |
| 2021 | 100 | $48.3M | $1.9M | -0.2% | 3.8% | 51 | 3.49 | 93% | 2,725 | 32 |
| 2022 | 100 | $46.9M | $443K | -5.1% | 0.9% | 82 | 3.24 | 89% | 2,638 | 36 |
| 2023 | 100 | $49.2M | $950K | -11.9% | 1.7% | 34 | 2.48 | 90% | 2,703 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Advanced Homecare Holdings Inc. | 5% or greater indirect ownership interest | 100 | 2022-07 | |
| Encompass Health Corporation | 5% or greater indirect ownership interest | 100 | 1986-12 | chain |
| Encompass Ip Holdings Corporation | 5% or greater direct ownership interest | 100 | 2022-07 | |
| Truist Bank | 5% or greater security interest | 100 | 2026-03 | |
| Vanguard Group Inc | 5% or greater indirect ownership interest | 10 | 2023-12 | |
| Blackrock Inc | 5% or greater indirect ownership interest | 9 | 2023-12 | |
| Carey Mcrae | corporate officer | 2025-01 | ||
| Carey Mcrae | operational/managerial control | 2025-01 | ||
| Encompass Health Corporation | operational/managerial control | 1993-12 | chain | |
| Mark Tarr | corporate officer | 2017-01 | ||
| Mark Tarr | operational/managerial control | 2017-01 | ||
| Michael Bartell | w-2 managing employee | 2018-07 | ||
| Robert Mccallum | corporate officer | 2025-01 | ||
| Robert Mccallum | operational/managerial control | 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 AL
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 |
|---|---|---|---|---|
| 2019-06-01 | Rehabilitation Hospital Of North... | Rebound Llc | Encompass Health Rehabilitation Hosp | 85 |