dealflow
envelope $200M

← Targets

Encompass Health Rehabilitation Hosp

dba Encompass Health Rehabilitation Hospital Of Columbia · Columbia, Richland County, SC · CCN 423025
Licensed to Encompass Health Rehabilitation Hospital Of Columbia, Inc.

Composite
36.1
rank score
Distress
4
FY2023
Fit
81
vs thesis
Estimated ticket
$31.2M–$125M
96 beds · within envelope
Ownership
for-profit
RH

Why it ranks here

  • 90-150 days cash on hand
  • 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 somewhat below the envelope
  • strong occupancy — good iteration surface
  • for-profit — no charitable conversion review

Latest financials · FY2023

Net patient revenue$38.3M
Operating margin 19.5%
Total margin 19.6%
Days cash on hand 111
Current ratio 9.82
Occupancy70%

Facility

Beds96
Facility typeRH
Settingurban
Ownership classfor-profit
Per-bed (low) $325K
Per-bed (high) $1.3M

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2020 96 $29.5M $5.3M 17.5% 17.8% 55 5.21 61% 1,689 17
2021 96 $29.8M $5.2M 17.3% 17.5% 64 5.88 60% 1,669 10
2022 96 $35.1M $6.2M 17.4% 17.6% 40 3.79 67% 1,899 17
2023 96 $38.3M $7.5M 19.5% 19.6% 111 9.82 70% 2,053 4

Owners

OwnerRole%SinceType
Encompass Health Corporation
Birmingham, AL
5% or greater direct ownership interest 100 1987-10 chain
Truist Bank
Charlotte, NC
5% or greater security interest 100 2026-03
Vanguard Group Inc
Malvern, PA
5% or greater indirect ownership interest 10 2023-12
Blackrock Inc
New York, NY
5% or greater indirect ownership interest 9 2023-12
Andrew Price corporate officer 2009-11
Bobby Boutwell w-2 managing employee 2025-11
Carey Mcrae corporate officer 2025-01
Douglas Coltharp corporate officer 2010-05
Edmund Ball corporate officer 2021-01
Edmund Fay corporate officer 2008-05
John Darby corporate officer 2016-02
John Wilson corporate officer 2017-01
Mark Tarr operational/managerial control 2017-01
Melanie Lewis corporate officer 2021-08
Robert Mccallum corporate officer 2011-11
Ronnie Wagley corporate officer 2022-04
Stephen Leasure corporate officer 2020-01
Thomas Boyle corporate officer 2020-10

Ownership changes

No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.