Cobalt Rehab Hospital Surprise
dba Pam Health Rehabilitation Hospital Of Surprise ·
Surprise, AZ
· CCN 033039
Licensed to Cobalt Rehabilitation Hospital Iv
Composite
54.1
rank score
Distress
40
FY2023
Fit
86
vs thesis
Estimated ticket
$13.0M–$52.0M
40 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- under 30 days cash on hand
- current ratio under 1.5
- debt above 85% of assets
- margin deteriorating sharply
- 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 | $20.4M |
| Operating margin | 15.1% |
| Total margin | 16.1% |
| Days cash on hand | 0 |
| Current ratio | 1.40 |
| Occupancy | 70% |
Facility
| Beds | 40 |
| 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 | 40 | $14.2M | $3.8M | 26.7% | 26.8% | 25 | 0.30 | 62% | 694 | 36 |
| 2021 | 40 | $11.4M | $-774K | -11.6% | -6.5% | — | 0.11 | 51% | 648 | 81 |
| 2022 | 40 | $14.9M | $1.3M | 6.1% | 8.3% | 0 | 1.77 | 60% | 659 | 32 |
| 2023 | 40 | $20.4M | $3.3M | 15.1% | 16.1% | 0 | 1.40 | 70% | 879 | 40 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Curahealth Rehabilitation Holdco, Llc | 5% or greater indirect ownership interest | 100 | 2019-07 | |
| Pam Cubed Llc | 5% or greater indirect ownership interest | 100 | 2021-11 | chain |
| Brittany Misitano | 5% or greater indirect ownership interest | 68 | 2021-11 | |
| Curahealth Rehabilitation Blocker Corp | 5% or greater indirect ownership interest | 28 | 2019-07 | |
| Pam Health Blocker Purchaser Inc. | 5% or greater indirect ownership interest | 28 | 2021-11 | |
| Anthony Misitano | corporate officer | 2021-11 | ||
| Brittany Misitano | corporate officer | 2021-11 | ||
| Karick Stober | corporate officer | 2021-11 | ||
| Mozghan Hines | w-2 managing employee | 2023-11 | ||
| Pam Cubed Llc | other | 2024-04 | chain | |
| Wells Fargo Bank, N.a. | 5% or greater security interest | 2024-07 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.