Western Reserve Hospital
Cuyahoga Falls, Summit County, OH
· CCN 360150
Licensed to Western Reserve Hospital, Llc
Composite
57.5
rank score
Distress
74
FY2023
Fit
60
vs thesis
Estimated ticket
$5.8M–$11.6M
83 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $146M |
| Operating margin | -12.1% |
| Total margin | -5.3% |
| Days cash on hand | 28 |
| Current ratio | 1.24 |
| Occupancy | 43% |
Facility
| Beds | 83 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 83 | $135M | $3.8M | -5.5% | 2.6% | 72 | 1.32 | 41% | 2,886 | 41 |
| 2021 | 83 | $156M | $17.0M | -2.6% | 9.6% | 63 | 1.37 | 49% | 3,204 | 31 |
| 2022 | 83 | $148M | $-7.0M | -9.3% | -4.6% | 34 | 1.29 | 49% | 3,308 | 57 |
| 2023 | 83 | $146M | $-8.2M | -12.1% | -5.3% | 28 | 1.24 | 43% | 3,349 | 74 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Western Reserve Hospital Partners Llc | 5% or greater direct ownership interest | 51 | 2009-06 | |
| University Hospitals Holding Inc | 5% or greater direct ownership interest | 49 | 2020-10 | |
| Robert Kent | 5% or greater indirect ownership interest | 7 | 2009-06 | |
| Robert Kent | corporate director | 7 | 2009-06 | |
| Robert Kent | w-2 managing employee | 7 | 2016-12 | |
| Charles Fuenning | corporate director | 2 | 2017-12 | |
| Robert Spittler | corporate director | 2 | 2009-06 | |
| Gary Pinta | corporate director | 1 | 2009-06 | |
| Mehdi Shishehbor | corporate director | 2022-10 | ||
| Paul Hinchey | corporate director | 2022-06 | ||
| Vojislav Topalsky | corporate director | 2021-12 |
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 |