St. Ritas Medical Center Llc
dba Mercy Health-St Rita's Medical Center ·
Lima, Allen County, OH
· CCN 360066
Licensed to Mercy Health-St Ritas Medical Center Llc
Composite
34.1
rank score
Distress
8
FY2023
Fit
72
vs thesis
Estimated ticket
$32.9M–$65.8M
329 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- occupancy 45-60%
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- large — ticket likely stretches the envelope
- ticket size somewhat below the envelope
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $512M |
| Operating margin | 10.2% |
| Total margin | 18.5% |
| Days cash on hand | 318 |
| Current ratio | 10.42 |
| Occupancy | 58% |
Facility
| Beds | 329 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 327 | $417M | $108M | 8.4% | 22.0% | 368 | 4.22 | 55% | 14,470 | 2 |
| 2021 | 339 | $489M | $151M | 12.4% | 26.0% | 333 | 5.67 | 61% | 15,135 | 0 |
| 2022 | 329 | $498M | $-17.3M | 6.5% | -3.9% | 297 | 8.79 | 60% | 15,063 | 14 |
| 2023 | 329 | $512M | $105M | 10.2% | 18.5% | 318 | 10.42 | 58% | 15,892 | 8 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bon Secours Mercy Health Inc | 5% or greater direct ownership interest | 100 | 2020-01 | chain |
| Alexander Garvey | corporate director | 2025-01 | ||
| Chad King | corporate director | 2025-01 | ||
| David Frost | corporate director | 2018-02 | ||
| Dorothy Thum | corporate director | 2005-02 | ||
| Herbert Ford | corporate director | 2023-01 | ||
| Jason May | corporate director | 2025-01 | ||
| Jennifer Moenter | corporate director | 2024-01 | ||
| Jill Miller | corporate director | 2026-01 | ||
| John Luellen | corporate director | 2026-01 | ||
| John Starcher | operational/managerial control | 2016-01 | ||
| Karen Grothouse | corporate director | 2018-02 | ||
| Kari Taylor | corporate director | 2023-01 | ||
| Kimberly Ralston | w-2 managing employee | 2017-10 | ||
| Nicole Hutchison | corporate officer | 2024-07 | ||
| Nicole Hutchison | corporate director | 2024-07 | ||
| Nicole Hutchison | w-2 managing employee | 2024-07 | ||
| Ronda Lehman | corporate director | 2019-01 | ||
| Temple Patton | corporate director | 2020-01 | ||
| Travis Crum | corporate director | 2025-01 | ||
| Veronica Mclaurine | 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 OH
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 |
|---|---|---|---|---|
| 2022-03-01 | Mercy Health - St Vincent Medical... | Mercy Health-St Charles Hospital Llc | St Vincent Medical Center | 516 |
| 2022-03-01 | Mercy Health - St Vincent Medical... | Mercy Health-St Charles Hospital Llc | St Vincent Medical Center | 516 |
| 2022-03-01 | Mercy Health - St Vincent Medical... | Mercy Health-St Charles Hospital Llc | St Vincent Medical Center | 516 |
| 2022-03-01 | Mercy Health - St Vincent Medical... | Mercy Health - St Anne Hospital Llc | St Vincent Medical Center | 516 |
| 2020-10-01 | The Good Samaritan Hospital Of... | Trihealth Hospital, Inc | Good Samaritan Hospital | 362 |
| 2019-04-01 | Ohiohealth Berger Hospital Llc | Berger Hospital | Berger Hospital | 83 |
| 2018-12-02 | The Toledo Hospital | Flower Hospital | The Toledo Hospital | 730 |
| 2016-10-31 | Prime Healthcare Foundation -... | Coshocton County Memorial Hospital... | Coshocton Regional Medical Center | 56 |