Hazard Arh
dba Hazard Arh Regional Medical Center ·
Hazard, Perry County, KY
· CCN 180029
Licensed to Appalachian Regional Healthcare Inc
Composite
53.4
rank score
Distress
67
FY2024
Fit
58
vs thesis
Estimated ticket
$8.8M–$17.5M
103 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
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $213M |
| Operating margin | -22.9% |
| Total margin | 14.8% |
| Days cash on hand | 1 |
| Current ratio | -0.27 |
| Occupancy | 79% |
Facility
| Beds | 103 |
| 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 | 230 | $241M | $79.9M | 5.3% | 25.9% | 1 | -0.34 | 61% | 7,584 | 36 |
| 2022 | 230 | $225M | $-22.9M | -22.9% | -9.0% | 1 | -0.37 | 55% | 8,412 | 82 |
| 2023 | 109 | $201M | $5.0M | -32.3% | 1.8% | 1 | -0.29 | 91% | 6,935 | 67 |
| 2024 | 103 | $213M | $45.7M | -22.9% | 14.8% | 1 | -0.27 | 79% | 5,878 | 67 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrea Massey | corporate director | 2019-11 | ||
| Angela Hatton | corporate director | 2025-11 | ||
| Brian Springate | operational/managerial control | 2022-10 | ||
| Byron Gabbard | corporate officer | 2023-11 | ||
| Christi Lee | corporate officer | 2021-11 | ||
| Eric Smith | corporate director | 2025-11 | ||
| Gregory Couch | corporate director | 2013-11 | ||
| Hollie Harris | corporate officer | 2021-05 | ||
| Jeffrey Hollon | corporate director | 2012-11 | ||
| Joann Anderson | corporate director | 2017-11 | ||
| Karen Newman | corporate director | 2022-11 | ||
| Ken Allman | corporate director | 2019-11 | ||
| Maria Braman | corporate officer | 2016-03 | ||
| Martha Ellis | corporate director | 2024-11 | ||
| Michael Rust | corporate director | 2019-11 | ||
| Randall Evans | corporate director | 2013-11 | ||
| Robert Wilson | corporate director | 2025-11 | ||
| Samuel Dunn | corporate director | 2021-11 | ||
| Sonya Bergman | corporate officer | 2021-11 | ||
| Vanessa Johnson | w-2 managing employee | 2017-08 |
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 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 |