Mercy Health West Hospital
dba Mercy Health - West Hospital ·
Cincinnati, Hamilton County, OH
· CCN 360234
Licensed to Mercy Health - West Hospital, Llc
Composite
61.7
rank score
Distress
57
FY2023
Fit
86
vs thesis
Estimated ticket
$87.1M–$348M
205 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- liabilities exceed assets
- margin deteriorating sharply
- 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
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $278M |
| Operating margin | -0.3% |
| Total margin | 0.7% |
| Days cash on hand | 0 |
| Current ratio | 1.56 |
| Occupancy | 74% |
Facility
| Beds | 205 |
| 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 | 203 | $262M | $37.4M | 5.6% | 13.1% | 1 | 0.84 | 72% | 12,449 | 42 |
| 2021 | 203 | $296M | $40.1M | 10.7% | 13.1% | 0 | 0.92 | 73% | 12,670 | 42 |
| 2022 | 200 | $288M | $7.0M | 0.3% | 2.4% | 0 | 1.54 | 76% | 12,967 | 40 |
| 2023 | 205 | $278M | $1.9M | -0.3% | 0.7% | 0 | 1.56 | 74% | 13,147 | 57 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bon Secours Mercy Health Inc | 5% or greater indirect ownership interest | 100 | 2018-09 | chain |
| Mercy Health Cincinnati Llc | 5% or greater direct ownership interest | 100 | 1984-01 | |
| Alexander Garvey | corporate director | 2023-01 | ||
| Daniel Feldmann | corporate director | 2024-01 | ||
| Edward Babbitt | corporate director | 2016-01 | ||
| Eric Thiemann | corporate director | 2022-01 | ||
| James Mcgraw | corporate director | 2024-01 | ||
| Janice Jones | corporate director | 2024-01 | ||
| Jason Asic | corporate officer | 2025-01 | ||
| Jason Asic | corporate director | 2025-01 | ||
| Jason Asic | w-2 managing employee | 2025-01 | ||
| John Luellen | corporate director | 2025-08 | ||
| John Starcher | operational/managerial control | 2016-01 | ||
| Kevin Cochran | corporate director | 2018-02 | ||
| Kimberly Ralston | w-2 managing employee | 2005-04 | ||
| Mark Carter | corporate director | 2022-01 | ||
| Michael Bezney | corporate director | 2024-01 | ||
| Suzanne Kathman | corporate director | 2019-01 | ||
| Vincent Dinapoli | corporate director | 2018-02 |
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 |