Ssh - Cincinnati Inc.
dba Select Specialty Hospital - Cincinnati ·
Cincinnati, Hamilton County, OH
· CCN 362019
Licensed to Select Specialty Hospital - Cincinnati, Inc.
Composite
38.2
rank score
Distress
12
FY2024
Fit
82
vs thesis
Estimated ticket
$21.3M–$85.2M
71 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $39.6M |
| Operating margin | 19.7% |
| Total margin | 9.0% |
| Days cash on hand | — |
| Current ratio | 2.26 |
| Occupancy | 62% |
Facility
| Beds | 71 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $300K |
| Per-bed (high) | $1.2M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 74 | $34.6M | $9.5M | 22.6% | 25.7% | — | 1.15 | 60% | 586 | 7 |
| 2022 | 71 | $35.4M | $-1.2M | 3.4% | -3.4% | — | 0.93 | 65% | 645 | 27 |
| 2023 | 71 | $39.1M | $3.0M | 12.6% | 7.6% | — | 1.22 | 70% | 679 | 4 |
| 2024 | 71 | $39.6M | $3.6M | 19.7% | 9.0% | — | 2.26 | 62% | 584 | 12 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Intensiva Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2009-05 | |
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2009-05 | |
| Select Medical Corporation | operational/managerial control | 100 | 2009-05 | |
| David Chernow | corporate officer | 2011-06 | ||
| David Muggli | corporate officer | 2023-02 | ||
| David Muggli | w-2 managing employee | 2023-02 | ||
| David Muggli | operational/managerial control | 2023-02 | ||
| Erica Duncan | corporate officer | 2025-06 | ||
| Erica Duncan | w-2 managing employee | 2025-06 | ||
| Erica Duncan | operational/managerial control | 2025-06 | ||
| John Duggan | corporate officer | 2009-05 | ||
| John Duggan | corporate director | 2025-09 | ||
| John Saich | corporate officer | 2025-08 | ||
| Michael Malatesta | corporate officer | 2025-08 | ||
| Robert Breighner | corporate officer | 2025-08 | ||
| Robert Kido | corporate officer | 2025-08 | ||
| Thomas Mullin | corporate officer | 2025-08 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2017-11-01 | acquisition/merger | Select Specialty Hospital -... | Regency Hospital Of Cincinnati, Llc |
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 |