Ssh - Des Moines
dba Select Specialty Hospital- Des Moines ·
Des Moines, Polk County, IA
· CCN 162003
Licensed to Select Specialty Hospital - Des Moines, Inc.
Composite
53.5
rank score
Distress
61
FY2023
Fit
65
vs thesis
Estimated ticket
$7.7M–$30.6M
30 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin below -8%
- 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
- small but workable bed count
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $10.7M |
| Operating margin | -3.1% |
| Total margin | -9.7% |
| Days cash on hand | — |
| Current ratio | 0.88 |
| Occupancy | 58% |
Facility
| Beds | 30 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 30 | $16.8M | $3.3M | 23.0% | 18.4% | — | 0.41 | 93% | 330 | 17 |
| 2021 | 30 | $14.5M | $2.6M | 23.1% | 16.8% | — | 0.84 | 80% | 327 | 11 |
| 2022 | 30 | $12.3M | $-928K | 4.3% | -7.4% | — | 0.60 | 66% | 273 | 33 |
| 2023 | 30 | $10.7M | $-1.0M | -3.1% | -9.7% | — | 0.88 | 58% | 260 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2014-03 | |
| Select Medical Corporation | operational/managerial control | 100 | 2014-03 | |
| Select Specialty Hospitals Inc | 5% or greater direct ownership interest | 100 | 2014-03 | |
| John Duggan | corporate officer | 2014-03 | ||
| John Duggan | corporate director | 2025-09 | ||
| John Saich | corporate officer | 2025-09 | ||
| Michael Malatesta | corporate officer | 2025-09 | ||
| Robert Breighner | w-2 managing employee | 2025-09 | ||
| Robert Kido | corporate officer | 2025-09 | ||
| Sam Ayres | corporate officer | 2023-06 | ||
| Sam Ayres | w-2 managing employee | 2023-06 | ||
| Sam Ayres | operational/managerial control | 2023-06 | ||
| 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.