Ssh - Evansville Llc.
dba Select Specialty Hospital Evansville ·
Evansville, Vanderburgh County, IN
· CCN 152014
Licensed to Select Specialty Hospital - Evansville Llc
Composite
61.1
rank score
Distress
70
FY2023
Fit
74
vs thesis
Estimated ticket
$12.6M–$50.4M
60 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- current liabilities exceed current assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $25.3M |
| Operating margin | -10.5% |
| Total margin | -7.5% |
| Days cash on hand | — |
| Current ratio | 0.94 |
| Occupancy | 58% |
Facility
| Beds | 60 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 60 | $24.2M | $1.6M | -6.1% | 5.9% | — | 0.57 | 66% | 540 | 46 |
| 2021 | 60 | $26.4M | $2.8M | -3.3% | 9.0% | — | 1.01 | 67% | 534 | 24 |
| 2022 | 60 | $21.8M | $-6.5M | -30.8% | -27.6% | — | 1.86 | 62% | 528 | 57 |
| 2023 | 60 | $25.3M | $-2.0M | -10.5% | -7.5% | — | 0.94 | 58% | 542 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Intensiva Healthcare Corporation | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2007-03 | |
| Select Medical Corporation | operational/managerial control | 100 | 2007-03 | |
| Select Specialty Hospital - Evansville Llc | 5% or greater direct ownership interest | 100 | 2007-03 | |
| Select Specialty Hospital - Evansville, Inc. | 5% or greater direct ownership interest | 100 | 2015-07 | |
| John Duggan | corporate officer | 2007-03 | ||
| John Duggan | corporate director | 2025-09 | ||
| John Saich | corporate officer | 2025-09 | ||
| Michael Malatesta | corporate officer | 2025-04 | ||
| Robert Breighner | w-2 managing employee | 2025-09 | ||
| Robert Kido | corporate officer | 2025-09 | ||
| Robyn Baehl | corporate officer | 2024-05 | ||
| Robyn Baehl | w-2 managing employee | 2024-05 | ||
| Robyn Baehl | operational/managerial control | 2024-05 | ||
| 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 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 |
|---|---|---|---|---|
| 2024-01-01 | Nw Indiana-Amg Specialty Hospital Inc | Vibra Hospital Of Northwestern Indiana, Llc | Vibra Hospital Of Northwest Indiana | 40 |