Highlands Regional Medical Center
dba Highlands Arh Regional Medical Center ·
Prestonsburg, Floyd County, KY
· CCN 180005
Licensed to Arh Tug Valley Health Services Inc
Composite
48.5
rank score
Distress
59
FY2024
Fit
55
vs thesis
Estimated ticket
$5.4M–$10.7M
63 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $94.7M |
| Operating margin | -32.0% |
| Total margin | 15.8% |
| Days cash on hand | 0 |
| Current ratio | -1.16 |
| Occupancy | 59% |
Facility
| Beds | 63 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 139 | $90.7M | $10.8M | -9.4% | 9.8% | 0 | 43.09 | 28% | 2,592 | 53 |
| 2022 | 145 | $98.5M | $-8.2M | -23.7% | -7.2% | 0 | -2.30 | 36% | 3,668 | 81 |
| 2023 | 63 | $96.5M | $11.7M | -32.6% | 8.4% | 0 | -2.91 | 66% | 3,341 | 63 |
| 2024 | 63 | $94.7M | $23.5M | -32.0% | 15.8% | 0 | -1.16 | 59% | 3,142 | 59 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Appalachian Regional Healthcare Inc | 5% or greater direct ownership interest | 100 | 2013-07 | |
| Byron Gabbard | corporate officer | 2023-11 | ||
| Hollie Harris | corporate officer | 2021-05 | ||
| Hollie Harris | corporate director | 2021-05 | ||
| Jonathan Collins | corporate officer | 2022-11 | ||
| Rocco Massey | corporate officer | 2023-06 | ||
| Roy Milwee | w-2 managing employee | 2016-05 | ||
| Vanessa Johnson | w-2 managing employee | 2017-08 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2019-08-01 | change of ownership | Arh Tug Valley Health Services Inc | Highlands Hospital Corp |
Who has been buying in KY
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 |
|---|---|---|---|---|
| 2024-07-01 | Bowling Green-Warren County... | Logan Memorial Hospital Llc | Logan Memorial Hospital | 37 |
| 2021-12-01 | Arh Tug Valley Health Services Inc | Paintsville Hospital Company Llc | Paintsville Arh Hospital | 39 |
| 2021-01-01 | Owensboro Health Twin Lakes... | Grayson County Hospital Foundation Inc | Owensboro Health Twin Lakes Medical | 49 |
| 2020-09-01 | Baptist Healthcare System Inc | Hardin Memorial Hospital | Baptist Health Hardin | 271 |
| 2019-11-01 | Uofl Health-Louisville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Louisville | 789 |
| 2019-11-01 | Uofl Health-Shelbyville Inc | Jewish Hospital & St. Mary's... | Uofl Health-Shelbyville | 32 |
| 2019-09-01 | Baptist Healthcare System Inc | Baptist Health Richmond Inc | Baptist Health Richmond | 53 |
| 2019-08-01 | Arh Tug Valley Health Services Inc | Highlands Hospital Corp | Highlands Regional Medical Center | 63 |
| 2016-02-11 | T J Health Columbia Inc | Adair County Hospital District | Tj Health Columbia | 49 |