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Oct 10, 2018 — $20M, 45-Bed, Subacute Pediatric Rehabilitation Hospital for sale in California.
a 45-bed, Subacute Pediatric Long Term Care and Skilled Nursing Facility for sale in California, serving patients from Central California down to San Diego. The facility was established in 2004, providing long term care programs for the pediatric population, ages newborn to 21. They also have a Pediatric Outpatient Therapy Clinic that provides speech, physical, occupational, and feeding therapy. The dedicated staff is specially educated and trained to care for children who have experienced catastrophic illnesses or injuries, offering residents an “as-close-to-home” experience as possible.
The company’s payer mix is 99% MediCal (Medicaid) and 1% Private Insurance. Gross annual revenues have been in the $12.5 Million to $13 Million range since 2015, and they are currently on track to exceed $13.2 Million in 2018 with an adjusted EBITDA of nearly $1.2 Million. The facility’s current average occupancy rate is 98%, and they consistently have a waiting list. There are numerous opportunities for growth, including the option to acquire contiguous land to add beds to the facility, as well as expanding their outpatient rehabilitation services.
The owners are seeking a well-capitalized buyer who can implement their plans for growth, and they would like to stay on with the company with a minority stake in the business. The staff of over 200 employees is expected to stay on as well.
The asking price for this opportunity is $20 Million, which includes the real estate.