Paintsville Arh Hospital
Paintsville, Johnson County, KY
· CCN 180078
Licensed to Arh Tug Valley Health Services Inc
Composite
49.8
rank score
Distress
62
FY2024
Fit
50
vs thesis
Estimated ticket
$3.3M–$6.6M
39 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 30-45%
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $30.2M |
| Operating margin | -17.2% |
| Total margin | 24.8% |
| Days cash on hand | 5 |
| Current ratio | -1.44 |
| Occupancy | 36% |
Facility
| Beds | 39 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 72 | $37.9M | $7.1M | 8.5% | 16.9% | 0 | -0.58 | 21% | 1,638 | 44 |
| 2021 | 72 | $30.8M | $-5.6M | -18.3% | -18.3% | 0 | 0.22 | 25% | 1,671 | 100 |
| 2022 | 47 | $18.9M | $-5.4M | -6.2% | -36.6% | 10 | -50.49 | 35% | 879 | 80 |
| 2023 | 39 | $30.3M | $3.6M | -27.9% | 8.6% | 5 | -3.48 | 30% | 1,170 | 72 |
| 2024 | 39 | $30.2M | $11.7M | -17.2% | 24.8% | 5 | -1.44 | 36% | 1,408 | 62 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Appalachian Regional Healthcare Inc | 5% or greater direct ownership interest | 100 | 2013-07 | chain |
| 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 director | 2017-08 | ||
| Vanessa Johnson | w-2 managing employee | 2017-08 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-12-01 | change of ownership | Arh Tug Valley Health Services Inc | Paintsville Hospital Company Llc |
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 |