Kettering Health Hamilton
Hamilton, Butler County, OH
· CCN 360132
Licensed to The Fort Hamilton Hospital
Composite
58.2
rank score
Distress
56
FY2023
Fit
82
vs thesis
Estimated ticket
$58.6M–$235M
138 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- under 30 days cash on hand
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $175M |
| Operating margin | -2.4% |
| Total margin | 2.7% |
| Days cash on hand | 0 |
| Current ratio | 2.14 |
| Occupancy | 48% |
Facility
| Beds | 138 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 158 | $138M | $15.4M | 0.3% | 10.1% | 0 | 1.53 | 51% | 6,550 | 42 |
| 2021 | 158 | $163M | $10.1M | 2.8% | 6.0% | 0 | 1.24 | 56% | 6,680 | 39 |
| 2022 | 138 | $167M | $-8.1M | -8.8% | -4.7% | 0 | 1.53 | 55% | 6,235 | 70 |
| 2023 | 138 | $175M | $5.0M | -2.4% | 2.7% | 0 | 2.14 | 48% | 6,778 | 56 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kettering Adventist Healthcare | operational/managerial control | 100 | 2009-07 | |
| Adele Riley | corporate director | 2024-01 | ||
| Andrew Sutton | corporate director | 2025-02 | ||
| Cherish Prutzman | corporate director | 2024-01 | ||
| David Martin | corporate director | 2025-05 | ||
| Harvey Hahn | corporate director | 2025-02 | ||
| John Sackett | corporate director | 2024-11 | ||
| Keisha Stubbs-Bone | corporate director | 2024-01 | ||
| Kettering Adventist Healthcare | other | 2024-01 | ||
| Kevin Sharrett | corporate director | 2024-01 | ||
| Leslie Neff | corporate director | 2024-01 | ||
| Marcellus Robinson | corporate officer | 2024-04 | ||
| Marcellus Robinson | corporate director | 2024-04 | ||
| Michael Gentry | corporate officer | 2023-07 | ||
| Michael Gentry | corporate director | 2024-01 | ||
| Norman Spence | w-2 managing employee | 2025-10 | ||
| Peter Landless | corporate director | 2025-02 | ||
| Robert Patterson | corporate director | 2024-01 | ||
| Robert Weigel | corporate director | 2024-01 | ||
| Tamara Thomas | corporate director | 2024-01 | ||
| Timothy Ko | corporate officer | 2022-11 | ||
| Troy Tyner | corporate director | 2024-01 | ||
| Vanessa Oliver-Ward | corporate director | 2025-02 |
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 |