Physicians Medical Center
dba Physicians Medical Center Llc ·
New Albany, Floyd County, IN
· CCN 150172
Licensed to Physicians Medical Center Llc
Composite
34.5
rank score
Distress
26
FY2023
Fit
57
vs thesis
Estimated ticket
$5.0M–$20.0M
10 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 30-60 days cash on hand
- occupancy below 30%
- margin slipping
- urban — higher occupancy and iteration surface
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $59.3M |
| Operating margin | 18.4% |
| Total margin | 18.4% |
| Days cash on hand | 32 |
| Current ratio | 2.09 |
| Occupancy | 19% |
Facility
| Beds | 10 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 10 | $48.2M | $10.3M | 14.8% | 20.0% | 30 | 1.55 | 25% | 547 | 26 |
| 2021 | 10 | $59.7M | $15.6M | 22.5% | 25.2% | 12 | 2.53 | 18% | 329 | 31 |
| 2022 | 10 | $60.0M | $15.2M | 24.9% | 25.2% | 16 | 2.92 | 18% | 395 | 31 |
| 2023 | 10 | $59.3M | $10.9M | 18.4% | 18.4% | 32 | 2.09 | 19% | 376 | 26 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Stephanie Perna | corporate officer | 100 | 2025-03 | |
| Tiffany Sorg | corporate officer | 100 | 2025-06 | |
| Tiffany Sorg | w-2 managing employee | 100 | 2025-06 | |
| Sca Ahn Jv Holdings Ii, Llc | 5% or greater direct ownership interest | 55 | 2022-12 | |
| Collaborative Care Holdings Llc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Optum Inc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Optumhealth Holdings Llc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Sc Affiliates Llc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Sca Holdco, Inc. | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Scai Holdings Llc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Surgical Care Affiliates Llc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| United Healthcare Services Inc | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| Unitedhealth Group Incorporated | 5% or greater indirect ownership interest | 28 | 2022-12 | |
| American Health Network Of Indiana Llc | 5% or greater indirect ownership interest | 27 | 2022-12 | |
| Abdul Jabbar | operational/managerial control | 2 | 2024-01 | |
| Steven Harrell | operational/managerial control | 2 | 2024-01 | |
| Richard Medley | operational/managerial control | 1 | 2024-01 | |
| Howard Preuss | operational/managerial control | 1 | 2024-01 | |
| Robert Goodin | operational/managerial control | 1 | 2024-01 | |
| Scott Kuiper | operational/managerial control | 1 | 2024-01 | |
| Trevor Soergel | operational/managerial control | 1 | 2024-01 | |
| Brian Heimer | operational/managerial control | 2025-08 | ||
| Daniel Riggs | operational/managerial control | 2022-12 | ||
| Ganesh Rao | operational/managerial control | 2025-06 | ||
| Melissa Bailey | operational/managerial control | 2022-12 |
Showing 25 of 29. Full list via /api/targets/150172.
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 IN
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 |
|---|---|---|---|---|
| 2025-12-28 | Indiana University Health Inc | Indiana University Health North... | Indiana University Health | 1,274 |
| 2025-12-13 | Union Hospital Inc | Terre Haute Regional Hospital Lp | Union Hospital Inc. | 260 |
| 2025-07-01 | Parkview Logansport Hospital Inc | Memorial Hospital | Memorial Hospital Logansport | 37 |
| 2024-03-01 | Franciscan Health Michigan City | Franciscan Beacon Hospital, Llc | Franciscan Health Michigan City | 133 |
| 2020-11-01 | St Elizabeth Medical Center, Inc | Dearborn County Hospital | St Elizabeth Dearborn | 50 |
| 2019-07-16 | Reid Hospital & Health Care Services Inc | Fayette Memorial Hospital Association Inc | Reid Hospital & Health Care Services | 183 |