Bethesda Hospital
dba Bethesda North ·
Cincinnati, Hamilton County, OH
· CCN 360179
Licensed to Bethesda Hospital Inc.
Composite
54.6
rank score
Distress
63
FY2024
Fit
66
vs thesis
Estimated ticket
$184M–$734M
432 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- very large — likely out of range
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $892M |
| Operating margin | -1.2% |
| Total margin | -2.5% |
| Days cash on hand | 0 |
| Current ratio | 0.72 |
| Occupancy | 78% |
Facility
| Beds | 432 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 414 | $755M | $84.5M | 3.1% | 9.5% | 10 | 0.44 | 77% | 23,572 | 36 |
| 2022 | 413 | $791M | $-4.3M | -2.1% | -0.5% | 7 | 0.59 | 80% | 23,690 | 59 |
| 2023 | 416 | $830M | $32.0M | -0.3% | 3.3% | 14 | 0.75 | 79% | 24,561 | 51 |
| 2024 | 432 | $892M | $-24.5M | -1.2% | -2.5% | 0 | 0.72 | 78% | 25,962 | 63 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Angela Lee | w-2 managing employee | 2019-05 | ||
| Cynthia Booth | corporate director | 2020-07 | ||
| John Devoe | corporate officer | 2020-07 | ||
| John Devoe | w-2 managing employee | 2020-07 | ||
| Kathy Kelly | corporate director | 2020-07 | ||
| Kristin Coppage | corporate director | 2022-01 | ||
| Lisa Konerman | w-2 managing employee | 2019-01 | ||
| Lorraine Stephens | corporate director | 2022-01 | ||
| Mark Clement | corporate officer | 2015-05 | ||
| Michael Crofton | corporate officer | 2019-01 | ||
| Michael Crofton | w-2 managing employee | 2019-01 | ||
| Philip Foster | corporate director | 2019-01 | ||
| Phillip Castellini | corporate director | 2016-07 | ||
| Quint Studer | corporate director | 2019-01 | ||
| Ralph Michael | corporate director | 2013-07 | ||
| Rance Duke | corporate director | 2020-07 | ||
| Robert Collins | corporate director | 2019-01 | ||
| Sara Duffy | corporate director | 2013-07 | ||
| Steve Gracey | corporate officer | 2020-07 | ||
| Steve Gracey | w-2 managing employee | 2020-07 | ||
| Theodore Torbeck | corporate director | 2019-01 | ||
| Trihealth Inc | operational/managerial control | 1994-11 |
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 |