Ridgeview Hospital
Middle Point, Van Wert County, OH
· CCN 364047
Licensed to Oglethorpe Of Middlepoint Llc
Composite
51.7
rank score
Distress
53
FY2023
Fit
70
vs thesis
Estimated ticket
$3.9M–$7.9M
84 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin under 2%
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 45-60%
- margin deteriorating sharply
- rural — cheaper but limited density
- specialty facility — narrower problem scope
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $11.9M |
| Operating margin | 0.8% |
| Total margin | 1.1% |
| Days cash on hand | 0 |
| Current ratio | 0.44 |
| Occupancy | 53% |
Facility
| Beds | 84 |
| Facility type | PH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $46.8K |
| Per-bed (high) | $93.5K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 84 | $22.4M | $5.6M | 24.6% | 25.0% | 6 | 0.19 | 85% | 1,162 | 36 |
| 2021 | 84 | $16.9M | $2.5M | 11.2% | 14.3% | 0 | 0.32 | 61% | 859 | 36 |
| 2022 | 84 | $17.5M | $687K | 3.9% | 3.9% | 3 | 0.61 | 71% | 861 | 36 |
| 2023 | 84 | $11.9M | $133K | 0.8% | 1.1% | 0 | 0.44 | 53% | 749 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Oglethorpe Of Middlepoint Llc | 5% or greater direct ownership interest | 100 | 2011-06 | |
| Warren Knight | w-2 managing employee | 50 | 2011-06 | |
| Darryl Dowdy | w-2 managing employee | 2022-01 | ||
| James Oshea | 5% or greater direct ownership interest | 2011-06 | ||
| James Oshea | corporate officer | 2011-06 | ||
| Joel Snook | w-2 managing employee | 2022-12 | ||
| John Picciano | corporate officer | 2011-06 | ||
| Oglethorpe Inc | operational/managerial control | 2011-06 |
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 |
|---|---|---|---|---|
| 2024-06-20 | 50 St Lawrence Opco Llc | Voa Rehabilitation Centers Inc | Sojourn At Seneca | 24 |