Cedar Springs Behavioral Hospital
dba Cedar Springs Behavioral Health System ·
Colorado Springs, El Paso County, CO
· CCN 064009
Licensed to Cedar Springs Hospital, Inc
Composite
59.6
rank score
Distress
51
FY2023
Fit
87
vs thesis
Estimated ticket
$20.1M–$80.4M
86 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin under 2%
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- 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 | $28.3M |
| Operating margin | 1.5% |
| Total margin | 1.6% |
| Days cash on hand | 0 |
| Current ratio | -0.31 |
| Occupancy | 71% |
Facility
| Beds | 86 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 86 | $29.4M | $7.6M | 23.6% | 25.3% | 0 | -0.55 | 72% | 3,182 | 36 |
| 2021 | 86 | $29.5M | $5.6M | 18.8% | 19.1% | 0 | -0.39 | 74% | 3,495 | 36 |
| 2022 | 86 | $26.3M | $-131K | -1.8% | -0.5% | 0 | -0.23 | 72% | 3,330 | 59 |
| 2023 | 86 | $28.3M | $449K | 1.5% | 1.6% | 0 | -0.31 | 71% | 3,742 | 51 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2010-11 | |
| George Brunner | corporate officer | 100 | 2010-11 | |
| Matthew Klein | corporate officer | 100 | 2010-11 | |
| Matthew Peterson | corporate officer | 100 | 2019-09 | |
| Matthew Peterson | operational/managerial control | 100 | 2019-09 | |
| Psychiatric Solutions Hospitals Llc | 5% or greater direct ownership interest | 100 | 2003-04 | |
| Psychiatric Solutions, Inc. | 5% or greater indirect ownership interest | 100 | 2004-04 | |
| Steve Filton | corporate officer | 100 | 2010-11 | |
| Steve Filton | operational/managerial control | 100 | 2010-11 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2010-11 | chain |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2010-11 | |
| Alan Miller | 5% or greater indirect ownership interest | 87 | 2024-03 | |
| James Coleman | contracted managing employee | 50 | 2010-11 | |
| Matthew Peterson | corporate director | 33 | 2019-09 | |
| Steve Filton | corporate director | 33 | 2010-11 | |
| Thomas Day | corporate director | 33 | 2021-07 | |
| Dean Zarei | contracted managing employee | 2023-05 | ||
| Dean Zarei | corporate director | 2023-05 | ||
| Katharine Lyver | corporate officer | 2024-01 | ||
| Robert Kedelis | contracted managing employee | 2025-03 | ||
| Robert Kedelis | corporate officer | 2025-03 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.