Gateway Rehab At Florence
dba Gateway Rehabilitation Hospital ·
Florence, Boone County, KY
· CCN 183030
Licensed to Vibra Rehabilitation Hospital Of Florence Llc
Composite
53.9
rank score
Distress
53
FY2023
Fit
75
vs thesis
Estimated ticket
$11.1M–$44.2M
40 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
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $22.6M |
| Operating margin | -0.1% |
| Total margin | -0.0% |
| Days cash on hand | 0 |
| Current ratio | -5.04 |
| Occupancy | 94% |
Facility
| Beds | 40 |
| 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 | 40 | $21.7M | $-192K | -0.4% | -0.9% | 2 | -3.90 | 91% | 1,145 | 59 |
| 2021 | 40 | $24.2M | $100K | -2.6% | 0.4% | 0 | -2.83 | 95% | 1,022 | 54 |
| 2022 | 40 | $22.6M | $-1 | -15.7% | -0.0% | 0 | -4.23 | 92% | 1,013 | 71 |
| 2023 | 40 | $22.6M | $-11 | -0.1% | -0.0% | 0 | -5.04 | 94% | 1,029 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Vibra Rehab Holdings Lp | 5% or greater direct ownership interest | 100 | 2015-08 | |
| Brad Hollinger | 5% or greater indirect ownership interest | 84 | 2015-08 | |
| United Rehab Realty Holding Llc | 5% or greater security interest | 45 | 2015-08 | |
| Midcap Funding Iv Trust | 5% or greater security interest | 12 | 2023-02 | |
| Brad Hollinger | corporate officer | 2015-08 | ||
| Herbert Schneider | corporate officer | 2016-03 | ||
| Kelly Hollinger | corporate officer | 2020-03 | ||
| Robert Murphy | w-2 managing employee | 2024-12 | ||
| Vibra Irfm Company Llc | operational/managerial control | 2015-08 | ||
| Vibra Management, Llc | other | 2015-08 |
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 |
|---|---|---|---|---|
| 2019-01-01 | Encompass Health Rehabilitation... | Encompass Health Rehabilitation... | Encompass Health Rehabilitation Hosp | 40 |