Uh Conneaut Medical Center
Conneaut, Ashtabula County, OH
· CCN 361308
Licensed to University Hospitals Conneaut Medical Center
Composite
54.5
rank score
Distress
78
FY2023
Fit
48
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $26.0M |
| Operating margin | -25.5% |
| Total margin | -19.9% |
| Days cash on hand | 0 |
| Current ratio | 2.17 |
| Occupancy | 29% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $29.4M | $2.3M | 2.3% | 7.4% | 0 | 1.01 | 29% | 575 | 34 |
| 2021 | 25 | $35.0M | $4.5M | 8.7% | 12.3% | 0 | 1.28 | 45% | 772 | 31 |
| 2022 | 25 | $30.7M | $-1.2M | -5.7% | -4.0% | 0 | -5.73 | 31% | 571 | 76 |
| 2023 | 25 | $26.0M | $-5.4M | -25.5% | -19.9% | 0 | 2.17 | 29% | 588 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| University Hospitals Health System Inc | 5% or greater direct ownership interest | 100 | 1997-08 | |
| Cliff Megerian | corporate officer | 2021-01 | ||
| Cliff Megerian | corporate director | 2021-01 | ||
| Michelle Gallucci | corporate officer | 2025-07 | ||
| Robyn Strosaker | corporate officer | 2024-11 | ||
| Robyn Strosaker | w-2 managing employee | 2024-11 |
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 |
|---|---|---|---|---|
| 2025-01-01 | Ohiohealth Morrow County Hospital Inc | Morrow County Hospital | Morrow County Hospital | 23 |
| 2021-05-02 | Adena Fayette Medical Center | Fayette County Memorial Hospital | Fayette County Memorial Hosp | 25 |
| 2019-10-01 | Adams County Regional Medical Center | Adams County Hospital | Adams County Regional Medical Center | 25 |