Sun Behavioral Health - Kentucky
dba Sun Behavioral Health ·
Erlanger, KY
· CCN 184006
Licensed to Northern Kentucky Behavioral Llc
Composite
40.5
rank score
Distress
17
FY2023
Fit
82
vs thesis
Estimated ticket
$54.2M–$217M
197 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- 30-60 days cash on hand
- occupancy 45-60%
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $68.8M |
| Operating margin | 28.1% |
| Total margin | 28.3% |
| Days cash on hand | 35 |
| Current ratio | 12.70 |
| Occupancy | 56% |
Facility
| Beds | 197 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $275K |
| 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 | 197 | $26.7M | $847K | -14.6% | 2.7% | 76 | 0.76 | 48% | 6,448 | 64 |
| 2021 | 197 | $81.2M | $41.2M | 50.6% | 50.7% | 120 | 1.55 | 48% | 6,448 | 11 |
| 2022 | 197 | $60.8M | $15.8M | 25.3% | 25.8% | 65 | 2.49 | 46% | 6,249 | 12 |
| 2023 | 197 | $68.8M | $19.5M | 28.1% | 28.3% | 35 | 12.70 | 56% | 7,133 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Jason Staats | corporate director | 100 | 2023-04 | |
| Jason Staats | w-2 managing employee | 100 | 2023-04 | |
| Sun Kentucky, Llc | 5% or greater direct ownership interest | 100 | 2015-04 | |
| Jason Staats | corporate officer | 2023-04 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-02-20 | change of ownership | Northern Kentucky Behavioral Llc | Northern Kentucky Mental... |
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 |
|---|---|---|---|---|
| 2018-02-20 | Northern Kentucky Behavioral Llc | Northern Kentucky Mental Health... | Sun Behavioral Health - Kentucky | 197 |