Patricia Neal Rehabilitation Hospita
dba Patricia Neal Rehabilitation Hospital ·
Knoxville, Knox County, TN
· CCN 443039
Licensed to Rehabilitation Hospital Of Knox County, Llc
Composite
73.9
rank score
Distress
80
FY2024
Fit
90
vs thesis
Estimated ticket
$16.6M–$66.4M
73 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- 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 · FY2024
| Net patient revenue | $31.1M |
| Operating margin | -22.5% |
| Total margin | -22.0% |
| Days cash on hand | 0 |
| Current ratio | -1.51 |
| Occupancy | 65% |
Facility
| Beds | 73 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $228K |
| Per-bed (high) | $910K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 73 | $31.1M | $-6.9M | -22.5% | -22.0% | 0 | -1.51 | 65% | 1,851 | 80 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Covenant Health | 5% or greater indirect ownership interest | 50 | 2020-04 | |
| Encompass Health Corporation | 5% or greater indirect ownership interest | 50 | 2020-04 | chain |
| Encompass Health Joint Ventures Holdings, Llc | 5% or greater indirect ownership interest | 50 | 2020-04 | |
| Encompass Health Knoxville Holdings, Llc | 5% or greater direct ownership interest | 50 | 2020-04 | |
| Fortress Corporation & Subsidiaries | 5% or greater direct ownership interest | 50 | 2020-04 | |
| Vanguard Group Inc | 5% or greater indirect ownership interest | 10 | 2023-12 | |
| Carey Mcrae | corporate officer | 2025-01 | ||
| Encompass Health Corporation | operational/managerial control | 2020-04 | chain | |
| Jennifer Steely | w-2 managing employee | 2021-01 | ||
| Mark Tarr | operational/managerial control | 2020-04 | ||
| Robert Mccallum | corporate officer | 2024-10 |
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 |
|---|---|---|---|---|
| 2017-07-01 | West Tennessee Rehabilitation Hospital, Llc | Rebound Llc | West Tennessee Healthcare Rehabilita | 40 |