Ssh - Palm Beach Llc
dba Select Specialty Hospital-Palm Beach ·
Lake Worth, Palm Beach County, FL
· CCN 102023
Licensed to Select Specialty Hospital - Palm Beach Inc
Composite
53.5
rank score
Distress
44
FY2023
Fit
84
vs thesis
Estimated ticket
$18.0M–$72.0M
60 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin -8% to -3%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- 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 | $31.4M |
| Operating margin | -1.1% |
| Total margin | -7.4% |
| Days cash on hand | — |
| Current ratio | 1.72 |
| Occupancy | 77% |
Facility
| Beds | 60 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $300K |
| Per-bed (high) | $1.2M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 60 | $32.5M | $-54.0K | 2.0% | -0.2% | — | 0.92 | 91% | 539 | 21 |
| 2021 | 60 | $33.2M | $-1.7M | -2.1% | -4.8% | — | 0.80 | 88% | 557 | 47 |
| 2022 | 60 | $34.4M | $-1.6M | -1.8% | -4.5% | — | 1.85 | 87% | 494 | 36 |
| 2023 | 60 | $31.4M | $-2.4M | -1.1% | -7.4% | — | 1.72 | 77% | 432 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2008-01 | |
| Select Medical Corporation | operational/managerial control | 100 | 2008-01 | |
| John Duggan | corporate officer | 2008-01 | ||
| John Duggan | corporate director | 2025-09 | ||
| John Saich | corporate officer | 2025-09 | ||
| Larry Melby | corporate officer | 2009-09 | ||
| Larry Melby | w-2 managing employee | 2009-09 | ||
| Larry Melby | operational/managerial control | 2009-09 | ||
| Michael Malatesta | corporate officer | 2025-09 | ||
| Robert Breighner | w-2 managing employee | 2025-09 | ||
| Robert Kido | corporate officer | 2025-09 | ||
| Select Specialty Hospitals Inc | 5% or greater direct ownership interest | 2008-01 | ||
| Thomas Mullin | corporate officer | 2025-09 |
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 FL
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 |
|---|---|---|---|---|
| 2019-09-30 | Pam Specialty Hospital Of Sarasota Llc | New Lifecare Hospitals Of Sarasota, Llc | Pam Specialty Hospital Of Sarasota | 40 |
| 2019-04-03 | Select Specialty Hospital - Miami... | Promise Hospital Of Dade, Inc. | Ssh - Miami Lakes | 60 |
| 2019-04-03 | Select Specialty Hospital - The... | Promise Hospital Of Florida At The... | Ssh - The Villages | 40 |
| 2019-04-03 | Select Specialty Hospital - Fort... | Promise Hospital Of Lee, Inc. | Ssh - Fort Myers | 60 |
| 2018-04-01 | Curahealth Jacksonville Llc | Memorial Healthcare Group Inc | Curahealth Jacksonville Llc | 107 |