Rehabilitation Hospital Of Northwest
Toledo, Lucas County, OH
· CCN 363040
Licensed to Rehabilitation Hospital Of Northwest Ohio Llc
Composite
58.5
rank score
Distress
42
FY2024
Fit
82
vs thesis
Estimated ticket
$13.0M–$52.0M
40 beds ·
within envelope
Ownership
for-profit
PE 6y
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- PE-owned 6 years — approaching exit window
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $16.5M |
| Operating margin | 5.3% |
| Total margin | 5.4% |
| Days cash on hand | 19 |
| Current ratio | 0.02 |
| Occupancy | 68% |
Facility
| Beds | 40 |
| 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 | 40 | $14.3M | $561K | 3.2% | 3.9% | 8 | 0.02 | 67% | 702 | 47 |
| 2022 | 40 | $14.2M | $-36.5K | -1.1% | -0.3% | 3 | 0.02 | 65% | 675 | 70 |
| 2023 | 40 | $14.0M | $-81.2K | -1.9% | -0.6% | 7 | 0.01 | 63% | 636 | 70 |
| 2024 | 40 | $16.5M | $895K | 5.3% | 5.4% | 19 | 0.02 | 68% | 680 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Epoch Acquisition Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Midco, Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Parent Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Epoch Parent Inc | 5% or greater indirect ownership interest | 100 | 2018-10 | |
| Ernest Health Holdings Llc | 5% or greater direct ownership interest | 100 | 2016-01 | |
| One Equity Partners Vii Lp | 5% or greater indirect ownership interest | 58 | 2018-10 | PE |
| Capital One Na | 5% or greater security interest | 52 | 2018-10 | |
| One Equity Partners Vii-A Lp | 5% or greater indirect ownership interest | 30 | 2018-10 | PE |
| One Equity Partners Vii-B Lp | 5% or greater indirect ownership interest | 12 | 2018-10 | PE |
| Andrea Sheehy | w-2 managing employee | 2024-01 | ||
| Caleb Reed | corporate officer | 2023-06 | ||
| Denise Kann | corporate officer | 2023-06 | ||
| Ernest Health, Inc | operational/managerial control | 2016-01 | ||
| Ernest Health, Inc | other | 2016-01 | ||
| Eudora Cannon | corporate officer | 2023-06 | ||
| Eudora Cannon | other | 2023-06 | ||
| Jacob Socha | corporate officer | 2023-06 | ||
| Mpt Of Toledo Llc | 5% or greater security interest | 2019-01 |
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 |
|---|---|---|---|---|
| 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 |