Atlantic Rehabilitation Institute
Madison, Morris County, NJ
· CCN 313038
Licensed to Atlantic Rehabilitation Institute, Llc
Composite
38.1
rank score
Distress
18
FY2023
Fit
75
vs thesis
Estimated ticket
$12.3M–$49.4M
38 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- 30-60 days cash on hand
- current ratio under 1.5
- 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 | $24.5M |
| Operating margin | 24.5% |
| Total margin | 24.8% |
| Days cash on hand | 32 |
| Current ratio | 1.44 |
| Occupancy | 86% |
Facility
| Beds | 38 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| 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 | 38 | $20.1M | $1.9M | 8.5% | 9.4% | 146 | 1.19 | 65% | 876 | 12 |
| 2021 | 38 | $23.2M | $5.3M | 22.6% | 22.9% | 54 | 1.63 | 90% | 985 | 17 |
| 2022 | 38 | $23.2M | $5.4M | 22.9% | 23.3% | 35 | 1.63 | 87% | 1,032 | 17 |
| 2023 | 38 | $24.5M | $6.1M | 24.5% | 24.8% | 32 | 1.44 | 86% | 1,011 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Saif Salim | operational/managerial control | 100 | 2022-09 | |
| Ahs Hospital Corp | 5% or greater direct ownership interest | 55 | 2016-12 | |
| Dsb Acquisition Llc | 5% or greater indirect ownership interest | 45 | 2021-12 | |
| Knd Development 65 Llc | 5% or greater direct ownership interest | 45 | 2016-12 | |
| Lifepoint Health Inc | 5% or greater indirect ownership interest | 45 | 2021-12 | |
| Lifepoint Rehab Llc | 5% or greater indirect ownership interest | 45 | 2021-12 | |
| Lifepoint Rehab Blocker Parent Llc | 5% or greater indirect ownership interest | 40 | 2021-12 | |
| Wcas Xii Hospital Llc | 5% or greater indirect ownership interest | 14 | 2021-12 | |
| Tpg Vii Kentucky Bl I Llc | 5% or greater indirect ownership interest | 13 | 2021-12 | |
| Psp Hospital Holdings Llc | 5% or greater indirect ownership interest | 8 | 2021-12 | |
| Lifepoint Rehab Blocker Llc | 5% or greater indirect ownership interest | 5 | 2021-12 | |
| Chc Management Services Llc | operational/managerial control | 2016-12 | ||
| David Stark | corporate director | 2023-06 | ||
| James Ransom | corporate director | 2020-08 | ||
| Joseph D'auria, Jr | corporate director | 2017-05 | ||
| Marcus Poppell | other | 2021-12 | ||
| Patricia O'keefe | corporate director | 2017-05 | ||
| Paul Marmora | corporate director | 2018-11 | ||
| Russell Bailey | corporate director | 2017-05 | ||
| Thomas Bobroski | corporate director | 2023-01 |
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 NJ
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 |
|---|---|---|---|---|
| 2023-02-01 | Lawrence Operator Llc | Morris Hall St Lawrence Inc | Lawrence Rehab Hospital | 60 |
| 2016-11-01 | Kessler Institute For Rehabilitation Inc | 92 Brick Road Operating Company Llc | Marlton Rehab Hospital | 61 |