Grace Hospital
Cleveland, Cuyahoga County, OH
· CCN 362015
Licensed to Grace Hospital
Composite
54.9
rank score
Distress
70
FY2024
Fit
58
vs thesis
Estimated ticket
$3.6M–$14.3M
17 beds ·
within envelope
Ownership
nonprofit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- very small facility
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $5.7M |
| Operating margin | -52.3% |
| Total margin | -8.9% |
| Days cash on hand | 50 |
| Current ratio | 1.43 |
| Occupancy | 48% |
Facility
| Beds | 17 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 38 | $8.2M | $2.1M | -8.9% | 18.7% | 88 | 1.60 | 29% | 119 | 41 |
| 2022 | 29 | $7.5M | $51.4K | -25.8% | 0.5% | 102 | 2.17 | 34% | 111 | 41 |
| 2023 | 17 | $5.7M | $-1.1M | -50.7% | -14.7% | 84 | 1.74 | 44% | 136 | 60 |
| 2024 | 17 | $5.7M | $-700K | -52.3% | -8.9% | 50 | 1.43 | 48% | 120 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charlene Warner | corporate officer | 2022-01 | ||
| Gerald Jeppe | corporate director | 2000-05 | ||
| Heather Pesarchick | corporate officer | 2021-04 | ||
| Jeff Close | corporate director | 2017-07 | ||
| Joseph Mcnulty | corporate officer | 1983-01 | ||
| Joseph Mcnulty | corporate director | 1983-01 | ||
| Michelle Hennis | corporate officer | 2021-04 | ||
| Michelle Hennis | w-2 managing employee | 2021-04 | ||
| Nizar Nader | corporate director | 2016-01 | ||
| Paul Venizelos | corporate director | 2006-12 | ||
| Richard Rymond | corporate director | 2009-02 | ||
| Robert Grevey | corporate officer | 2000-05 | ||
| Robert Grevey | corporate director | 2000-05 |
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 |
|---|---|---|---|---|
| 2022-06-14 | Select Specialty Hospital - Boardman, Inc. | Vibra Hospital Of Mahoning Valley Llc | Ssh - Boardman Inc | 79 |
| 2019-09-30 | Pam Specialty Hospital Of Dayton Llc | New Lifecare Hospitals Of Dayton Llc | Pam Specialty Hospital Of Miamisburg | 36 |
| 2017-11-01 | Select Specialty Hospital -... | Regency Hospital Of Cincinnati, Llc | Ssh - Cincinnati Inc. | 71 |