Southern Kentucky Rehab Hospital
dba Southern Kentucky Rehabilitation Hospital ·
Bowling Green, Warren County, KY
· CCN 183029
Licensed to Smr Southern Kentucky Llc
Composite
62.6
rank score
Distress
63
FY2023
Fit
81
vs thesis
Estimated ticket
$16.6M–$66.3M
60 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $27.9M |
| Operating margin | -0.7% |
| Total margin | -0.5% |
| Days cash on hand | 0 |
| Current ratio | -0.18 |
| Occupancy | 84% |
Facility
| Beds | 60 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $276K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 60 | $23.6M | $1.6M | 0.3% | 6.3% | 25 | -0.17 | 77% | 1,236 | 42 |
| 2021 | 60 | $25.3M | $1.3M | 4.9% | 5.0% | 0 | -0.09 | 77% | 1,082 | 36 |
| 2022 | 76 | $26.3M | $3.6M | 4.8% | 12.6% | 1 | -0.21 | 72% | 1,157 | 36 |
| 2023 | 60 | $27.9M | $-149K | -0.7% | -0.5% | 0 | -0.18 | 84% | 1,203 | 63 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2025-12 | chain |
| Select Specialty Hospitals Inc | 5% or greater indirect ownership interest | 100 | 2025-12 | |
| Hospital Holdings Corporation | 5% or greater direct ownership interest | 51 | 2025-12 | |
| Vibra Healthcare, Llc | 5% or greater direct ownership interest | 49 | 2025-12 | |
| John Duggan | corporate officer | 2025-12 | ||
| John Duggan | corporate director | 2025-12 | ||
| John Saich | corporate officer | 2025-12 | ||
| Michael Malatesta | corporate officer | 2025-12 | ||
| Robert Breighner | w-2 managing employee | 2025-12 | ||
| Robert Kido | corporate officer | 2025-12 | ||
| Thomas Mullin | corporate officer | 2025-12 |
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 |
|---|---|---|---|---|
| 2019-01-01 | Encompass Health Rehabilitation... | Encompass Health Rehabilitation... | Encompass Health Rehabilitation Hosp | 40 |