Dublin Springs
Dublin, Franklin County, OH
· CCN 364049
Licensed to Dublin Springs Llc
Composite
66.4
rank score
Distress
61
FY2023
Fit
92
vs thesis
Estimated ticket
$33.7M–$135M
144 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin negative
- total margin negative
- current liabilities exceed current assets
- liabilities exceed assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- 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
Latest financials · FY2023
| Net patient revenue | $42.6M |
| Operating margin | -1.9% |
| Total margin | -1.8% |
| Days cash on hand | — |
| Current ratio | 0.81 |
| Occupancy | 68% |
Facility
| Beds | 144 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 144 | $39.5M | $9.1M | 21.3% | 22.6% | — | -0.88 | 68% | 5,314 | 17 |
| 2021 | 120 | $36.7M | $4.8M | -5.5% | 11.1% | — | 0.73 | 85% | 5,930 | 60 |
| 2022 | 120 | $37.0M | $-3.7M | -28.4% | -8.5% | — | 0.74 | 87% | 5,941 | 89 |
| 2023 | 144 | $42.6M | $-780K | -1.9% | -1.8% | — | 0.81 | 68% | 5,751 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Columbus Springs Behavioral Health Llc | 5% or greater direct ownership interest | 100 | 2025-11 | |
| Ohiohealth Corporation | 5% or greater indirect ownership interest | 51 | 2025-11 | |
| Dsb Acquisition Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Lifepoint Behavioral Health, Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Lifepoint Health Inc | 5% or greater indirect ownership interest | 49 | 2025-11 | chain |
| Lifepoint Rehab Blocker Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Lifepoint Rehab Blocker Parent Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Lifepoint Rehab Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Lpnt Autumn Holdco, Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Springstone Health Opco, Llc | 5% or greater indirect ownership interest | 49 | 2025-11 | |
| Amanda Johnson | w-2 managing employee | 2024-12 | ||
| Charlotte Lawrence | corporate officer | 2023-02 | ||
| Christopher Jagoditz | corporate officer | 2025-10 | ||
| Christopher Monte | corporate officer | 2023-02 | ||
| Elliott Brown | corporate officer | 2026-04 | ||
| Lifepoint Behavioral Health Services, Llc | 5% or greater indirect ownership interest | 2025-11 | ||
| Lifepoint Behavioral Health Services, Llc | operational/managerial control | 2023-02 | ||
| Marcus Poppell | other | 2023-02 | ||
| Martin Mann | corporate officer | 2023-02 | ||
| Nicoletta Tessler | corporate officer | 2025-08 | ||
| Springstone Health Opco, Llc | 5% or greater direct ownership interest | 2012-07 |
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 |