Ashtabula County Medical Center
dba Ashtabula Regional Medical Center ·
Ashtabula, Ashtabula County, OH
· CCN 360125
Licensed to Ashtabula County Medical Center
Composite
34.9
rank score
Distress
22
FY2023
Fit
62
vs thesis
Estimated ticket
$10.5M–$21.0M
105 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- occupancy 45-60%
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $151M |
| Operating margin | -8.6% |
| Total margin | 9.8% |
| Days cash on hand | 306 |
| Current ratio | 4.86 |
| Occupancy | 47% |
Facility
| Beds | 105 |
| 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 | 113 | $115M | $5.1M | -27.9% | 3.3% | 316 | 2.74 | 36% | 4,170 | 33 |
| 2021 | 105 | $144M | $12.8M | -8.3% | 7.6% | 364 | 3.87 | 48% | 4,823 | 24 |
| 2022 | 105 | $146M | $-6.1M | -9.5% | -4.0% | 289 | 4.96 | 44% | 4,381 | 40 |
| 2023 | 105 | $151M | $17.9M | -8.6% | 9.8% | 306 | 4.86 | 47% | 4,242 | 22 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alanna Dames | corporate officer | 2023-05 | ||
| Brian Harte | corporate director | 2025-02 | ||
| Craig Sernik | corporate director | 2019-01 | ||
| David Novak | w-2 managing employee | 2024-01 | ||
| David Pontius | corporate director | 2019-01 | ||
| Donald Chaplin | corporate director | 2024-01 | ||
| James Pearson | corporate director | 2025-04 | ||
| James Timonere | corporate director | 2014-04 | ||
| Jospeh Giangola | corporate director | 2007-01 | ||
| Katherine Hancock | corporate director | 2019-01 | ||
| Leonard Stepp | corporate officer | 2022-12 | ||
| Nancy Kister | corporate director | 2014-01 | ||
| Ryan Miller | corporate director | 2026-05 | ||
| Sarah Bogardus | corporate officer | 2025-04 | ||
| Shinoj Pattali Jayavalsan | w-2 managing employee | 2025-02 | ||
| Vernon Palo | corporate director | 2019-01 |
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 |