Springfield Regional Medical Center
dba Mercy Health - Springfield Regional Medical Center ·
Springfield, Clark County, OH
· CCN 360086
Licensed to Community Mercy Health Partners
Composite
53.1
rank score
Distress
52
FY2023
Fit
70
vs thesis
Estimated ticket
$17.9M–$35.7M
210 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $314M |
| Operating margin | 0.8% |
| Total margin | 3.2% |
| Days cash on hand | 0 |
| Current ratio | 0.51 |
| Occupancy | 77% |
Facility
| Beds | 210 |
| 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 | 230 | $266M | $24.4M | 4.4% | 8.8% | 0 | 0.86 | 64% | 12,603 | 36 |
| 2021 | 230 | $298M | $22.6M | 4.7% | 7.4% | 0 | 0.94 | 71% | 12,165 | 36 |
| 2022 | 230 | $288M | $-9.1M | -5.3% | -3.1% | 0 | 0.98 | 75% | 12,008 | 70 |
| 2023 | 210 | $314M | $10.4M | 0.8% | 3.2% | 0 | 0.51 | 77% | 12,664 | 52 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Community Mercy Health System | 5% or greater direct ownership interest | 100 | 2004-07 | |
| Bon Secours Mercy Health Inc | 5% or greater indirect ownership interest | 50 | 2018-09 | chain |
| The Community Hospital Health Services Foundation | 5% or greater indirect ownership interest | 50 | 2004-07 | |
| Adam Groshans | corporate director | 2019-06 | ||
| Adeleye Edon | corporate director | 2022-01 | ||
| Alexander Garvey | corporate director | 2023-01 | ||
| Denise Rodney | corporate director | 2024-01 | ||
| James Mcgregor | corporate director | 2022-01 | ||
| Jayna Brown | corporate director | 2021-01 | ||
| Jenelle Zelinski | corporate officer | 2019-05 | ||
| Jenelle Zelinski | corporate director | 2019-05 | ||
| Jenelle Zelinski | w-2 managing employee | 2019-05 | ||
| John Starcher | operational/managerial control | 2016-01 | ||
| Joseph Gage | corporate director | 2023-01 | ||
| Kimberly Ralston | w-2 managing employee | 2017-10 | ||
| Lisa Cole | corporate director | 2020-01 | ||
| Maria Goeser | corporate director | 2021-01 | ||
| Marvin Narcelles | corporate director | 2019-01 | ||
| Maryann Potina | corporate director | 2022-01 | ||
| Michael Greitzer | corporate director | 2018-01 | ||
| Nina Wiley | corporate director | 2020-01 | ||
| Ryan Gilliam | corporate director | 2025-01 | ||
| Truman Johnson | corporate director | 2018-01 | ||
| William Ray | corporate director | 2015-02 |
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 |