Tidelands Health Rehabilitation Hosp
dba Tidelands Health Rehabilitation Hospital, An Affiliate Of Encompass He ·
Murrells Inlet, Georgetown County, SC
· CCN 423033
Licensed to Myrtle Beach Rehabilitation Hospital, Llc
Composite
34.6
rank score
Distress
15
FY2023
Fit
65
vs thesis
Estimated ticket
$4.9M–$9.8M
75 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- 60-90 days cash on hand
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- 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
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $39.7M |
| Operating margin | 13.2% |
| Total margin | 13.6% |
| Days cash on hand | 62 |
| Current ratio | 1.63 |
| Occupancy | 82% |
Facility
| Beds | 75 |
| Facility type | RH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $65.0K |
| Per-bed (high) | $130K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 75 | $29.2M | $4.8M | 12.6% | 15.9% | 56 | 2.04 | 65% | 1,376 | 17 |
| 2021 | 75 | $34.9M | $9.2M | 23.0% | 25.5% | 66 | 1.71 | 73% | 1,629 | 10 |
| 2022 | 75 | $35.6M | $8.4M | 23.5% | 23.6% | 71 | 1.63 | 75% | 1,671 | 10 |
| 2023 | 75 | $39.7M | $5.4M | 13.2% | 13.6% | 62 | 1.63 | 82% | 1,939 | 15 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Encompass Health Corporation | 5% or greater indirect ownership interest | 62 | 2018-09 | chain |
| Encompass Health Joint Ventures Holdings, Llc | 5% or greater indirect ownership interest | 62 | 2018-09 | |
| Encompass Health Myrtle Beach Holdings, Llc | 5% or greater direct ownership interest | 62 | 2018-09 | |
| Ghs Transitional Care Llc | 5% or greater direct ownership interest | 38 | 2018-09 | |
| Vanguard Group Inc | 5% or greater indirect ownership interest | 6 | 2023-12 | |
| Blackrock Inc | 5% or greater indirect ownership interest | 6 | 2023-12 | |
| Carey Mcrae | operational/managerial control | 2025-01 | ||
| Carey Mcrae | other | 2025-01 | ||
| Carey Swanson | w-2 managing employee | 2018-09 | ||
| Encompass Health Corporation | operational/managerial control | 2018-09 | chain | |
| Mark Tarr | operational/managerial control | 2018-09 | ||
| Robert Mccallum | operational/managerial control | 2025-01 | ||
| Robert Mccallum | other | 2025-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.