“Premier Health purchased this property in 2018 without a specific project in mind but knowing that it might be of strategic importance eventually. Since then, we have determined that selling the property is in alignment with our strategic goals and initiatives,” Premier Health said in a statement to the Dayton Daily News.
Premier Health, as Miami Valley Hospital, first purchased the property for $885,000 from 741 Developers LLC. Miami Valley Hospital sold the property to Davids Rombach LLC on June 17.
Davids Rombach LLC owns no additional property in Montgomery County or in the immediate surrounding area, and it filed for the LLC just last fall. Davids Rombach LLC could not be reached for comment.
The deed transfer includes restrictions that the property cannot be used in a way that could compete with Premier Health, listing numerous types of health care services. The property also cannot be used by any competing entities of Premier Health, such as by Kettering Health.
Premier Health has not had positive operating margins since 2014, CEO Mike Riordan told the Dayton Daily News earlier this year, but the health system is hopeful this is the year that changes.
The health system has already begun seeing some positive changes. In its most recent financial disclosure for all of 2023, Premier Health reported a total operating revenue of approximately $1.93 billion and a total operating expenditure of approximately $1.85 billion, which was an income gain of $73.9 million.
Premier Health employs approximately 11,685 people and its five hospitals include Miami Valley Hospital in Dayton, the region’s only level 1 trauma center. In addition, Premier Health provides care at its seven emergency departments, eight urgent care locations and more than 130 outpatient locations.
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