Sheltering Arms Institute
dba Shaltering Arms Institute ·
Richmond, Henrico County, VA
· CCN 493036
Licensed to Rehab Jv Llc
Composite
56.9
rank score
Distress
57
FY2023
Fit
78
vs thesis
Estimated ticket
$31.5M–$126M
114 beds ·
within envelope
Ownership
nonprofit
RH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- debt above 85% of assets
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $79.6M |
| Operating margin | -5.3% |
| Total margin | -2.8% |
| Days cash on hand | 17 |
| Current ratio | 1.11 |
| Occupancy | 86% |
Facility
| Beds | 114 |
| Facility type | RH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 | 114 | $10.1M | $-7.1M | -70.6% | -70.0% | 111 | 1.35 | 53% | 380 | 59 |
| 2021 | 114 | $57.9M | $-4.4M | -8.4% | -7.5% | 10 | 1.39 | 81% | 2,120 | 68 |
| 2022 | 114 | $65.0M | $3.7M | -3.9% | 5.2% | 36 | 1.43 | 82% | 2,113 | 40 |
| 2023 | 114 | $79.6M | $-2.3M | -5.3% | -2.8% | 17 | 1.11 | 86% | 2,368 | 57 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Sheltering Arms Corporation | 5% or greater direct ownership interest | 55 | 2017-09 | |
| Virginia Commonwealth University Health System Authority | 5% or greater direct ownership interest | 45 | 2017-09 | |
| Alan Lombardo | corporate officer | 2019-02 | ||
| Alan Lombardo | operational/managerial control | 2019-02 | ||
| David Cifu | corporate director | 2017-09 | ||
| Deborah Davis | corporate director | 2017-09 | ||
| James Litsinger | contracted managing employee | 2017-09 | ||
| Lawrence Gibson | corporate director | 2017-09 | ||
| Mary Zweifel | corporate director | 2017-09 | ||
| Patricia Cushnie | corporate director | 2017-09 | ||
| Patricio Zuniga | contracted managing employee | 2019-02 | ||
| Patricio Zuniga | w-2 managing employee | 2022-07 | ||
| Paul Wesolowski | corporate director | 2017-09 |
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 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 |
|---|---|---|---|---|
| 2017-06-01 | Coastal Virginia Rehabilitation Llc | Rehabilitation Institute Of Virginia Inc | Riverside Rehabilitation Institute | 50 |