Ohio County Hospital
Hartford, Ohio County, KY
· CCN 181323
Licensed to Ohio County Hospital Corporation
Composite
33.1
rank score
Distress
37
FY2023
Fit
41
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 30-60 days cash on hand
- occupancy below 30%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $71.1M |
| Operating margin | -1.9% |
| Total margin | 6.8% |
| Days cash on hand | 45 |
| Current ratio | 5.58 |
| Occupancy | 26% |
Facility
| Beds | 25 |
| Facility type | CAH |
| 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 | 25 | $37.6M | $417K | -22.3% | 0.9% | 126 | 1.44 | 29% | 676 | 48 |
| 2021 | 25 | $45.1M | $7.2M | -7.3% | 13.0% | 103 | 2.22 | 34% | 679 | 32 |
| 2022 | 25 | $56.6M | $1.1M | -6.8% | 1.8% | 65 | 2.97 | 36% | 701 | 41 |
| 2023 | 25 | $71.1M | $5.3M | -1.9% | 6.8% | 45 | 5.58 | 26% | 532 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Carla Wallace | corporate director | 2005-01 | ||
| Eddie Embry | corporate director | 2020-10 | ||
| Elizabeth Lunsford | corporate director | 2020-09 | ||
| James Duke | corporate director | 2018-01 | ||
| Jonathan Shrewsbury | corporate director | 1995-01 | ||
| Kelly Roe | corporate director | 2003-01 | ||
| Lloyd Spivey | corporate director | 2012-04 | ||
| Nicole Akers | corporate director | 2023-01 | ||
| Ovation Health | operational/managerial control | 1984-03 | ||
| Shellie Shouse | corporate officer | 2017-07 | ||
| Stuart Hibbs | w-2 managing employee | 2023-01 | ||
| Suzette Temple | corporate director | 2021-02 |
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 |
|---|---|---|---|---|
| 2024-04-01 | Bowling Green-Warren County... | The Medical Center At Clinton County Inc | The Medical Center Of Albany | 25 |
| 2024-04-01 | Bowling Green-Warren County... | The Medical Center At Franklin Inc | The Medical Center At Franklin | 25 |
| 2021-10-01 | Deaconess Union County Hospital, Inc | Methodist Health, Inc. | Deaconness Union County Hospital | 25 |
| 2018-07-01 | Arh Mary Breckinridge Health Services Inc | Saint Joseph Health System Inc | Our Lady Of The Way | 25 |
| 2016-01-01 | Bowling Green-Warren County... | Caverna Memorial Hospital Inc | The Medical Center At Caverna | 25 |