Mercy Regional Medical Center
dba Mercy Health - Lorain Hospital ·
Lorain, Lorain County, OH
· CCN 360172
Licensed to Mercy Health-Regional Medical Center Llc
Composite
62.3
rank score
Distress
61
FY2023
Fit
82
vs thesis
Estimated ticket
$63.3M–$253M
149 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- 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 | $222M |
| Operating margin | -6.5% |
| Total margin | -2.8% |
| Days cash on hand | 0 |
| Current ratio | -2.60 |
| Occupancy | 58% |
Facility
| Beds | 149 |
| 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 | 177 | $194M | $-6.4M | -8.9% | -3.1% | 0 | -0.49 | 46% | 7,635 | 83 |
| 2021 | 177 | $218M | $-4.9M | -4.9% | -2.2% | 0 | -3.47 | 55% | 8,374 | 72 |
| 2022 | 177 | $214M | $-16.9M | -13.5% | -7.5% | 0 | -3.95 | 52% | 7,592 | 78 |
| 2023 | 149 | $222M | $-6.4M | -6.5% | -2.8% | 0 | -2.60 | 58% | 7,759 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bon Secours Mercy Health Inc | 5% or greater indirect ownership interest | 100 | 2018-09 | chain |
| Mercy Health Lorain Llc | 5% or greater direct ownership interest | 100 | 2003-11 | |
| Alexander Garvey | corporate director | 2025-01 | ||
| Barbara Thomas | corporate director | 2018-02 | ||
| Cindy Andrews | corporate director | 2017-02 | ||
| Cynthia Dennison | corporate officer | 2019-05 | ||
| Cynthia Dennison | corporate director | 2019-05 | ||
| Darin Wiswell | corporate director | 2025-01 | ||
| Darryl Tucker | corporate director | 2018-02 | ||
| John Luellen | corporate director | 2022-01 | ||
| Kathleen Kern | corporate director | 2025-01 | ||
| Kimberly Ralston | w-2 managing employee | 2017-10 | ||
| Mercy Health Lorain Llc | operational/managerial control | 2003-11 | ||
| Michelle Crawford | corporate director | 2022-01 | ||
| Parris Smith | corporate director | 2022-01 | ||
| Randall Fortin | corporate director | 2010-08 | ||
| Richard White | corporate director | 2022-01 | ||
| Robert Thomas | corporate director | 2022-01 | ||
| Tracy Green | corporate director | 2017-02 | ||
| Victor Leandry | corporate director | 2017-02 |
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 |