Pam Spec. Hospital Of Westminster
Westminster, CO
· CCN 063037
Licensed to Cobalt Rehabilitation Hospital Denver Llc
Composite
62.6
rank score
Distress
63
FY2023
Fit
81
vs thesis
Estimated ticket
$9.9M–$39.8M
36 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current liabilities exceed current assets
- debt above 70% of assets
- 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 | $23.3M |
| Operating margin | -5.5% |
| Total margin | -5.4% |
| Days cash on hand | 5 |
| Current ratio | 0.98 |
| Occupancy | 88% |
Facility
| Beds | 36 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 40 | $672K | $-2.0M | -294.9% | -294.9% | — | 3.51 | 17% | 41 | 83 |
| 2022 | 40 | $13.5M | $-4.6M | -36.6% | -33.6% | 0 | 1.72 | 56% | 650 | 69 |
| 2023 | 36 | $23.3M | $-1.3M | -5.5% | -5.4% | 5 | 0.98 | 88% | 918 | 63 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Curahealth Rehabilitation Holdco, Llc | 5% or greater direct ownership interest | 100 | 2020-03 | |
| Pam Cubed Llc | 5% or greater indirect ownership interest | 100 | 2021-11 | chain |
| Brittany Misitano | 5% or greater indirect ownership interest | 68 | 2021-11 | |
| Pam Health Blocker Purchaser Inc. | 5% or greater indirect ownership interest | 41 | 2021-11 | |
| Curahealth Rehabilitation Blocker Corp | 5% or greater indirect ownership interest | 33 | 2020-03 | |
| Anthony Misitano | corporate officer | 2021-11 | ||
| Brittany Misitano | corporate officer | 2021-11 | ||
| Cory Warner | w-2 managing employee | 2023-05 | ||
| Karick Stober | corporate officer | 2021-11 | ||
| 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.
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 |