The Toledo Hospital
Toledo, Lucas County, OH
· CCN 360068
Licensed to The Toledo Hospital
Composite
44.9
rank score
Distress
32
FY2023
Fit
72
vs thesis
Estimated ticket
$73.0M–$146M
730 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 60-90 days cash on hand
- current ratio under 1.5
- liabilities exceed assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very large — likely out of range
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.5B |
| Operating margin | 5.1% |
| Total margin | 15.4% |
| Days cash on hand | 64 |
| Current ratio | 1.26 |
| Occupancy | 70% |
Facility
| Beds | 730 |
| 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 | 723 | $1.1B | $551M | -3.7% | 46.3% | 66 | 0.68 | 69% | 31,305 | 50 |
| 2021 | 708 | $1.3B | $-155M | 5.7% | -11.5% | 23 | 0.47 | 76% | 31,615 | 63 |
| 2022 | 732 | $1.3B | $-531M | 0.8% | -38.2% | 18 | 0.62 | 73% | 32,353 | 70 |
| 2023 | 730 | $1.5B | $238M | 5.1% | 15.4% | 64 | 1.26 | 70% | 33,135 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Aaron Buerk | corporate director | 2019-02 | ||
| Amanda Kert | w-2 managing employee | 2025-01 | ||
| Amir Khan | corporate director | 2020-02 | ||
| Anthony Packo | corporate director | 2022-01 | ||
| Arturo Polizzi | corporate officer | 2022-05 | ||
| Brain Dolsey | corporate director | 2022-01 | ||
| Charles Smith | corporate director | 2017-01 | ||
| Christina Stansfield | w-2 managing employee | 2018-08 | ||
| Darrell Wachowiak | corporate director | 2021-02 | ||
| Dawn Buskey | corporate director | 2013-03 | ||
| Donald Crescenzo | corporate director | 2025-01 | ||
| Elizabeth Higgins | corporate director | 2026-01 | ||
| James Brennan | corporate director | 2019-01 | ||
| Kent Bishop | corporate director | 2025-01 | ||
| Kevin Sharp | operational/managerial control | 2020-03 | ||
| Mark Fox | corporate director | 2019-01 | ||
| Matthew Hammond | corporate director | 2025-05 | ||
| Nancy Kabat | corporate director | 2023-01 | ||
| Peter Vavrinek | corporate director | 2022-01 | ||
| Promedica Health System Inc | operational/managerial control | 2011-03 | chain | |
| Terrence Metzger | corporate officer | 2023-05 | ||
| Thadius Wadsworth | corporate director | 2021-02 | ||
| Thomas Win | corporate director | 2023-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-12-02 | acquisition/merger | The Toledo Hospital | Flower Hospital |
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 |