Encompass Health Rehabilitation Hosp
dba Encompass Health Rehabilitation Hospital Of Gadsden ·
Gadsden, Etowah County, AL
· CCN 013032
Licensed to Encompass Health Rehabilitation Hospital Of Gadsden, Llc
Composite
35.9
rank score
Distress
9
FY2023
Fit
75
vs thesis
Estimated ticket
$15.9M–$63.7M
49 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- 60-90 days cash on hand
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $24.3M |
| Operating margin | 15.0% |
| Total margin | 15.2% |
| Days cash on hand | 79 |
| Current ratio | 10.43 |
| Occupancy | 94% |
Facility
| Beds | 49 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $325K |
| Per-bed (high) | $1.3M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 44 | $19.8M | $2.7M | 13.9% | 13.7% | 62 | 4.09 | 91% | 1,217 | 10 |
| 2021 | 46 | $22.2M | $3.6M | 16.2% | 16.3% | 121 | 3.64 | 92% | 1,298 | 4 |
| 2022 | 49 | $22.4M | $3.8M | 16.6% | 16.7% | 40 | 5.80 | 89% | 1,265 | 17 |
| 2023 | 49 | $24.3M | $3.7M | 15.0% | 15.2% | 79 | 10.43 | 94% | 1,362 | 9 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Encompass Health Corporation | 5% or greater indirect ownership interest | 100 | 2010-11 | chain |
| Encompass Health Corporation | operational/managerial control | 100 | 2010-11 | chain |
| Encompass Health Owned Hospitals Holdings Llc | 5% or greater direct ownership interest | 100 | 2010-11 | |
| 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 | operational/managerial control | 2025-01 | ||
| Carey Mcrae | other | 2025-01 | ||
| Frank Rayburn | w-2 managing employee | 2023-09 | ||
| Mark Tarr | operational/managerial control | 2017-01 | ||
| Robert Mccallum | operational/managerial control | 2025-01 | ||
| Robert Mccallum | other | 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 |