Salina Surgical Hospital
Salina, Saline County, KS
· CCN 170187
Licensed to Salina Surgical Center, Llc
Composite
24.5
rank score
Distress
17
FY2023
Fit
42
vs thesis
Estimated ticket
$1.6M–$3.2M
16 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 60-90 days cash on hand
- occupancy below 30%
- rural — cheaper but limited density
- 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 | $30.5M |
| Operating margin | 18.2% |
| Total margin | 18.5% |
| Days cash on hand | 67 |
| Current ratio | 3.33 |
| Occupancy | 24% |
Facility
| Beds | 16 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 16 | $23.6M | $4.2M | 17.8% | 17.7% | 210 | 1.80 | 25% | 629 | 9 |
| 2021 | 16 | $29.4M | $9.7M | 26.0% | 30.8% | 127 | 4.98 | 28% | 717 | 13 |
| 2022 | 16 | $28.3M | $6.0M | 20.9% | 21.1% | 132 | 4.34 | 23% | 620 | 13 |
| 2023 | 16 | $30.5M | $5.7M | 18.2% | 18.5% | 67 | 3.33 | 24% | 643 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Physicians And Investors, Llc | 5% or greater direct ownership interest | 50 | 1998-03 | |
| Salina Regional Health Center Inc | 5% or greater direct ownership interest | 50 | 1998-03 | |
| Salina Regional Health Center Inc | general partnership interest | 50 | 1998-03 | |
| Luann Puvogel | corporate officer | 2009-10 | ||
| Luann Puvogel | w-2 managing employee | 2009-05 | ||
| Todd Herrenbruck | corporate director | 2012-07 |
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 KS
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 |
|---|---|---|---|---|
| 2024-09-01 | Mercy Hospital Pittsburg Inc | Ascension Via Christi Hospital... | Via Christi Hospital Pittsburg Inc. | 64 |
| 2023-08-26 | South Central Kansas Regional... | South Central Kansas Regional... | South Central Ks Regional Medical Ct | — |
| 2023-01-01 | Stormont Vail Health Flint Hills Llc | Geary County Hospital | Stormont Vail - Flint Hills | 43 |
| 2022-05-01 | Commonspirit Kansas Inc | Dodge City Healthcare Group Llc | St. Catherine Hospital - Dodge City | 99 |
| 2020-01-26 | Mercy Specialty Hospital Southeast Kansas | City Of Galena-Kansas | Mercy Specialty Hospital - Southeast | 26 |
| 2019-05-01 | Adventhealth Ransom Memorial Inc | Ransom Memorial Hospital | Adventhealth Ottawa | 36 |
| 2018-08-01 | Ukhs Great Bend Llc | Great Bend Regional Hospital Llc | Ukhs Great Bend Campus | 29 |