Ssh - Richmond
dba Select Specialty Hospital - Richmond ·
Richmond, Henrico County, VA
· CCN 492009
Licensed to Select Specialty Hospital-Richmond Inc
Already transacted. CMS recorded an ownership change effective
2023-06-13. Confirm the current owner before spending a call on this.
Composite
21.3
rank score
Distress
78
FY2024
Fit
65
vs thesis
Estimated ticket
$12.6M–$50.4M
60 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
- changed ownership 2023-06-13 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $25.5M |
| Operating margin | -18.0% |
| Total margin | -16.1% |
| Days cash on hand | — |
| Current ratio | 2.30 |
| Occupancy | 52% |
Facility
| Beds | 60 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 60 | $28.6M | $1.8M | 2.7% | 6.2% | 1 | 2.89 | 75% | 537 | 22 |
| 2022 | 60 | $25.5M | $-242K | -7.4% | -0.9% | 0 | 1.87 | 71% | 399 | 57 |
| 2023 | 60 | $16.2M | $-7.7M | -52.9% | -45.0% | 2 | 0.99 | 55% | 277 | 89 |
| 2024 | 60 | $25.5M | $-4.1M | -18.0% | -16.1% | — | 2.30 | 52% | 393 | 78 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hospital Holdings Corporation | 5% or greater direct ownership interest | 100 | 2023-06 | |
| Select Medical Corporation | 5% or greater indirect ownership interest | 100 | 2023-06 | |
| Select Medical Corporation | operational/managerial control | 100 | 2023-06 | |
| Select Specialty Hospitals Inc | 5% or greater indirect ownership interest | 100 | 2023-06 | |
| David Chernow | corporate officer | 2023-06 | ||
| John Duggan | corporate officer | 2023-06 | ||
| Martin Jackson | corporate officer | 2023-06 | ||
| Michael Tarvin | corporate officer | 2023-06 | ||
| Michael Tarvin | w-2 managing employee | 2023-06 | ||
| Michael Tarvin | operational/managerial control | 2023-06 | ||
| Robert Ortenzio | corporate officer | 2023-06 | ||
| Shirley Martell | corporate officer | 2023-06 | ||
| Shirley Martell | w-2 managing employee | 2023-06 | ||
| Shirley Martell | operational/managerial control | 2023-06 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-06-13 | change of ownership | Select Specialty Hospital-Richmond Inc | Vibra Hospital Of Richmond Llc |
Who has been buying in VA
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 |
|---|---|---|---|---|
| 2023-06-13 | Select Specialty Hospital-Richmond Inc | Vibra Hospital Of Richmond Llc | Ssh - Richmond | 60 |