Adventist Rehab. Hospt. Of Md
dba Adventist Healthcare Rehabilitation ·
Rockville, Montgomery County, MD
· CCN 213029
Licensed to Adventist Rehabilitation Hospital Of Maryland Inc
Composite
35.7
rank score
Distress
10
FY2023
Fit
78
vs thesis
Estimated ticket
$31.5M–$126M
97 beds ·
within envelope
Ownership
nonprofit
RH
Why it ranks here
- 90-150 days cash on hand
- margin deteriorating
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $73.4M |
| Operating margin | 6.6% |
| Total margin | 3.1% |
| Days cash on hand | 120 |
| Current ratio | 4.61 |
| Occupancy | 90% |
Facility
| Beds | 97 |
| Facility type | RH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $325K |
| Per-bed (high) | $1.3M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 97 | $53.5M | $3.1M | 2.3% | 5.4% | 243 | 6.02 | 73% | 1,745 | 0 |
| 2021 | 97 | $62.0M | $3.4M | 7.2% | 5.2% | 126 | 3.13 | 81% | 2,039 | 4 |
| 2022 | 97 | $66.9M | $818K | 5.0% | 1.2% | 100 | 3.96 | 86% | 2,118 | 8 |
| 2023 | 97 | $73.4M | $2.3M | 6.6% | 3.1% | 120 | 4.61 | 90% | 2,198 | 10 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Healthcare, Inc. | 5% or greater direct ownership interest | 100 | 2004-04 | |
| Brent Reitz | w-2 managing employee | 100 | 2012-01 | |
| Kevin Cargill | corporate officer | 5 | 2025-01 | |
| Kevin Cargill | corporate director | 5 | 2025-01 | |
| Brent Reitz | corporate officer | 2012-01 | ||
| Brent Reitz | corporate director | 2012-01 | ||
| John Sackett | corporate officer | 2017-12 | ||
| John Sackett | corporate director | 2017-12 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.