Van Wert County Hospital
Van Wert, Van Wert County, OH
· CCN 360071
Licensed to Van Wert County Hospital Association
Composite
53.4
rank score
Distress
67
FY2023
Fit
54
vs thesis
Estimated ticket
$2.9M–$5.8M
34 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 60-90 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $54.1M |
| Operating margin | -15.0% |
| Total margin | -365.8% |
| Days cash on hand | 61 |
| Current ratio | 2.22 |
| Occupancy | 20% |
Facility
| Beds | 34 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 22 | $44.8M | $5.0M | -18.1% | 8.7% | 25 | 2.15 | 35% | 991 | 56 |
| 2021 | 34 | $59.6M | $2.2M | -7.9% | 3.4% | 4 | 1.59 | 30% | 1,131 | 53 |
| 2022 | 34 | $55.8M | $-6.2M | -16.3% | -10.5% | 16 | 1.91 | 25% | 1,017 | 76 |
| 2023 | 34 | $54.1M | $-48.9M | -15.0% | -365.8% | 61 | 2.22 | 20% | 791 | 67 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ohiohealth Corporation | 5% or greater direct ownership interest | 100 | 2023-02 | chain |
| Andy Rose | corporate officer | 2023-07 | ||
| Andy Rose | corporate director | 2023-02 | ||
| Arvind Malik | corporate director | 2024-01 | ||
| Carolyn Kile | corporate director | 2023-07 | ||
| David Eichinger | corporate director | 2023-02 | ||
| David Harrison | corporate director | 2023-02 | ||
| Donna James | corporate officer | 2023-02 | ||
| Donna James | corporate director | 2023-02 | ||
| Elizabeth Ingram | corporate officer | 2023-07 | ||
| Elizabeth Ingram | corporate director | 2023-02 | ||
| Hee-Soo Jung | corporate director | 2024-11 | ||
| Jeffrey Hutchison | corporate director | 2023-02 | ||
| Jennifer Papp | corporate director | 2023-10 | ||
| John Schwemer | corporate director | 2023-02 | ||
| Joseph Lyren | corporate officer | 2023-02 | ||
| Joseph Lyren | w-2 managing employee | 2023-02 | ||
| Karen Cook | corporate director | 2023-02 | ||
| Linda Hondros | corporate officer | 2024-07 | ||
| Linda Hondros | corporate director | 2023-02 | ||
| Michael Browning | corporate officer | 2023-02 | ||
| Michael Coleman | corporate director | 2023-02 | ||
| Mike Mahaffey | corporate director | 2023-07 | ||
| Nicholas Honda | corporate director | 2024-01 | ||
| Peggy Simmons | corporate director | 2024-01 |
Showing 25 of 29. Full list via /api/targets/360071.
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 |