Ssh - Tri-Cities Inc.
dba Select Specialty Hospital Tricities ·
Bristol, Sullivan County, TN
· CCN 442016
Licensed to Select Specialty Hospital - Tricities Llc
Composite
36.4
rank score
Distress
12
FY2023
Fit
77
vs thesis
Estimated ticket
$10.5M–$42.0M
35 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- 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 | $19.1M |
| Operating margin | 10.3% |
| Total margin | 5.8% |
| Days cash on hand | — |
| Current ratio | 2.58 |
| Occupancy | 88% |
Facility
| Beds | 35 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $300K |
| Per-bed (high) | $1.2M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 33 | $18.5M | $2.0M | 21.0% | 11.0% | — | 0.83 | 94% | 381 | 11 |
| 2021 | 35 | $18.7M | $4.7M | 24.9% | 22.6% | — | 1.01 | 90% | 358 | 4 |
| 2022 | 35 | $20.0M | $-283K | 9.0% | -1.4% | — | 2.36 | 87% | 343 | 10 |
| 2023 | 35 | $19.1M | $1.1M | 10.3% | 5.8% | — | 2.58 | 88% | 357 | 12 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2000-03 | |
| Select Medical Corporation | operational/managerial control | 100 | 2000-03 | |
| Select Specialty Hospitals Inc | 5% or greater indirect ownership interest | 100 | 2000-03 | |
| Hospital Holdings Corporation | 5% or greater direct ownership interest | 60 | 2000-03 | |
| Blue Ridge Medical Management Corporation | 5% or greater direct ownership interest | 40 | 2026-02 | |
| John Duggan | corporate officer | 2000-03 | ||
| John Duggan | corporate director | 2025-09 | ||
| John Saich | corporate officer | 2025-09 | ||
| Michael Malatesta | corporate officer | 2025-09 | ||
| Robert Breighner | w-2 managing employee | 2025-09 | ||
| Robert Kido | corporate officer | 2025-09 | ||
| Tammy Ratliff | corporate officer | 2024-08 | ||
| Tammy Ratliff | w-2 managing employee | 2024-08 | ||
| Tammy Ratliff | operational/managerial control | 2024-08 | ||
| Thomas Mullin | corporate officer | 2025-09 |
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 TN
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 |
|---|---|---|---|---|
| 2025-08-01 | Select Specialty Hospital - Memphis, Inc. | Baptist Memorial Regional... | Baptist Mem Restorative Care Hosp. | 30 |
| 2018-01-01 | Select Specialty Hospital - North... | Select Specialty Hospital - Knoxville, Inc. | Ssh -North Knoxville | 65 |