Northern Colorado Rehabilitation Hos
dba Northern Colorado Rehabilitation Hospital ·
Johnstown, Larimer County, CO
· CCN 063033
Licensed to Northern Colorado Rehabilitation Hospital Inc
Composite
56.5
rank score
Distress
39
FY2023
Fit
81
vs thesis
Estimated ticket
$13.0M–$52.0M
40 beds ·
within envelope
Ownership
for-profit
PE 5y
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- PE-owned 5 years — approaching exit window
- 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 | $24.4M |
| Operating margin | 20.5% |
| Total margin | 20.8% |
| Days cash on hand | 21 |
| Current ratio | 0.01 |
| Occupancy | 97% |
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 | $19.9M | $3.5M | 16.7% | 17.3% | 2 | 0.01 | 89% | 889 | 43 |
| 2021 | 40 | $20.2M | $4.4M | 20.3% | 21.3% | 7 | 0.01 | 89% | 853 | 43 |
| 2022 | 40 | $21.3M | $4.1M | 14.5% | 18.3% | 16 | 0.01 | 90% | 885 | 43 |
| 2023 | 40 | $24.4M | $5.1M | 20.5% | 20.8% | 21 | 0.01 | 97% | 968 | 39 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Epoch Acquisition Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Midco, Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Parent Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Parent Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Ernest Health Holdings Llc | 5% or greater indirect ownership interest | 100 | 2012-02 | |
| Ernest Health, Inc | 5% or greater direct ownership interest | 100 | 2004-08 | |
| Mpt Hospital Of Johnstown Llc | 5% or greater security interest | 62 | 2020-12 | |
| One Equity Partners Vii Lp | 5% or greater indirect ownership interest | 58 | 2018-10 | PE |
| Capital One Na | 5% or greater security interest | 38 | 2018-10 | |
| One Equity Partners Vii-A Lp | 5% or greater indirect ownership interest | 30 | 2019-01 | PE |
| One Equity Partners Vii-B Lp | 5% or greater indirect ownership interest | 12 | 2019-01 | PE |
| Alissa Gould | w-2 managing employee | 2024-06 | ||
| Amy Hansen | w-2 managing employee | 2022-06 | ||
| Caleb Reed | corporate officer | 2023-06 | ||
| Denise Kann | corporate officer | 2023-06 | ||
| Ernest Health, Inc | other | 2004-01 | ||
| Eudora Cannon | corporate officer | 2023-06 | ||
| Eudora Cannon | other | 2023-06 | ||
| Jacob Socha | corporate officer | 2023-06 |
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 CO
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 |
|---|---|---|---|---|
| 2018-11-01 | Encompass Pahs Rehabilitation Hospital, Llc | Encompass Health Rehabilitation... | Encompass Health Rehabilitation Hosp | 60 |