Midlands Regional Rehabilitation Hos
dba Midlands Regional Rehabilitation Hospital ·
Elgin, Kershaw County, SC
· CCN 423034
Licensed to Midlands Regional Rehabilitation Hospital Llc
Composite
64.9
rank score
Distress
63
FY2023
Fit
75
vs thesis
Estimated ticket
$11.1M–$44.2M
40 beds ·
within envelope
Ownership
for-profit
PE 5y
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- PE-owned 5 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 · FY2023
| Net patient revenue | $15.3M |
| Operating margin | -0.2% |
| Total margin | -0.1% |
| Days cash on hand | 1 |
| Current ratio | 0.03 |
| Occupancy | 64% |
Facility
| Beds | 40 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $276K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 40 | $1.9M | $-321K | -18.7% | -16.8% | 0 | 0.36 | 29% | 101 | 100 |
| 2021 | 40 | $11.4M | $-1.2M | -11.3% | -10.5% | 1 | 0.07 | 51% | 596 | 93 |
| 2022 | 40 | $15.2M | $481K | 1.4% | 3.1% | 1 | 0.03 | 67% | 702 | 53 |
| 2023 | 40 | $15.3M | $-10.7K | -0.2% | -0.1% | 1 | 0.03 | 64% | 693 | 63 |
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 | 2018-10 | |
| One Equity Partners Vii Lp | 5% or greater indirect ownership interest | 58 | 2018-10 | PE |
| 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 |
| Caleb Reed | corporate officer | 2023-06 | ||
| Denise Kann | corporate officer | 2023-06 | ||
| Ernest Health, Inc | other | 2018-10 | ||
| Eudora Cannon | corporate officer | 2023-06 | ||
| Eudora Cannon | other | 2023-06 | ||
| Jacob Socha | corporate officer | 2023-06 | ||
| Rebecca Cartright | w-2 managing employee | 2020-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.