Ohiohealth Rehabilitation Hospital
Columbus, Franklin County, OH
· CCN 363037
Licensed to Ohrh, Llc
Already transacted. CMS recorded an ownership change effective
2023-03-28. Confirm the current owner before spending a call on this.
Composite
19.6
rank score
Distress
42
FY2024
Fit
92
vs thesis
Estimated ticket
$37.0M–$148M
114 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
- changed ownership 2023-03-28 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $62.2M |
| Operating margin | 14.1% |
| Total margin | 14.5% |
| Days cash on hand | 0 |
| Current ratio | 0.63 |
| Occupancy | 77% |
Facility
| Beds | 114 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $325K |
| Per-bed (high) | $1.3M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 74 | $37.9M | $16.6M | 37.3% | 41.1% | 0 | 0.71 | 74% | 1,415 | 36 |
| 2022 | 74 | $32.6M | $6.3M | 17.7% | 18.9% | 0 | 1.02 | 66% | 1,227 | 26 |
| 2023 | 114 | $41.4M | $6.1M | 14.2% | 14.6% | 0 | 1.70 | 55% | 1,531 | 24 |
| 2024 | 114 | $62.2M | $9.1M | 14.1% | 14.5% | 0 | 0.63 | 77% | 2,384 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Novacare Outpatient Rehabilitation East, Inc. | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Novacare Rehabilitation Of Ohio Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Physiotherapy Associates Holdings Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Physiotherapy Associates Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Physiotherapy Corporation | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Physiotherapy-Bmhi Holdings, Inc. | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Rehabclinics, Inc. | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Select Hospital Investors, Inc | 5% or greater indirect ownership interest | 100 | 2018-11 | |
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2013-07 | |
| Select Medical Corporation | operational/managerial control | 100 | 2013-07 | |
| Select Physical Therapy Holdings Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Select Physical Therapy Orthopedic Services, Inc. | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Select Synergos Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Victoria Healthcare Inc | 5% or greater indirect ownership interest | 100 | 2023-01 | |
| Ohiohealth Corporation | 5% or greater direct ownership interest | 51 | 2013-08 | |
| Hospital Holdings Corporation | 5% or greater indirect ownership interest | 49 | 2013-07 | |
| Ohrh Select, Inc. | 5% or greater direct ownership interest | 49 | 2018-11 | |
| Select Specialty Hospitals Inc | 5% or greater indirect ownership interest | 49 | 2013-07 | |
| Smr Banyan Tree, Inc. | 5% or greater indirect ownership interest | 7 | 2023-01 | |
| Integrity Physical Therapy Inc | 5% or greater indirect ownership interest | 3 | 2023-01 | |
| Dusan Makel | corporate officer | 2026-01 | ||
| Dusan Makel | w-2 managing employee | 2026-01 | ||
| Dusan Makel | operational/managerial control | 2026-01 | ||
| John Duggan | corporate officer | 2025-09 | ||
| John Duggan | corporate director | 2025-09 |
Showing 25 of 33. Full list via /api/targets/363037.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-03-28 | acquisition/merger | Ohrh, Llc | Dublin Rehabilitation Hospital, 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 |
|---|---|---|---|---|
| 2024-10-30 | Insight Foundation Of Hillside | Steward Hillside Rehabilitation... | Hillside Hospital | 65 |
| 2023-03-28 | Ohrh, Llc | Dublin Rehabilitation Hospital, Llc | Ohiohealth Rehabilitation Hospital | 114 |
| 2023-03-01 | Crh Of Cincinnati Llc | Everest Rehabilitation Hospital... | Liberty Rehabilitation Hospital | 36 |