White County Medical Center
dba Unity Health - White County Medical Center ·
Searcy, White County, AR
· CCN 040014
Licensed to White County Medical Center
Composite
61.7
rank score
Distress
82
FY2023
Fit
62
vs thesis
Estimated ticket
$12.5M–$25.1M
179 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $272M |
| Operating margin | -22.2% |
| Total margin | -3.9% |
| Days cash on hand | 0 |
| Current ratio | 0.08 |
| Occupancy | 69% |
Facility
| Beds | 179 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 216 | $243M | $29.6M | -6.8% | 10.3% | 127 | 1.60 | 60% | 10,605 | 29 |
| 2021 | 216 | $283M | $60.0M | -3.4% | 17.0% | 98 | 1.74 | 67% | 11,148 | 20 |
| 2022 | 179 | $251M | $37.1M | 3.4% | 13.2% | 3 | 1.65 | 71% | 10,333 | 22 |
| 2023 | 179 | $272M | $-12.5M | -22.2% | -3.9% | 0 | 0.08 | 69% | 10,403 | 82 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ladonna Johnston | corporate officer | 100 | 2024-01 | |
| Ladonna Johnston | w-2 managing employee | 100 | 2024-01 | |
| David Hatfield | other | 2024-06 | ||
| Janet Hines | other | 2020-06 | ||
| Laura Gillenwater | corporate officer | 2025-06 | ||
| Leah Miller | other | 2020-06 | ||
| Nathan Rutledge | other | 2020-06 | ||
| Raymond Montgomery Ii | other | 2020-06 | ||
| Scott Rose | other | 2020-06 | ||
| Wesley Roberts | other | 2023-12 |
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 AR
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 |
|---|---|---|---|---|
| 2023-12-03 | Baptist Health | Drew Memorial Hospital, Inc | Drew Memorial Hospital Inc | 49 |
| 2023-07-01 | South Arkansas Regional Hospital Llc | Mcsa Llc | South Arkansas Regional Hospital Llc | 105 |
| 2021-08-01 | Siloam Springs Arkansas Hospital... | Fayetteville Arkansas Hospital Company Llc | Siloam Springs Memorial Hospital | 44 |
| 2020-10-01 | Magnolia Regional Health System Inc | Magnolia Regional Medical Center | Magnolia Regional Health System Inc | 29 |
| 2018-11-01 | Baptist Health Regional Hospitals | Fort Smith Hma, Llc | Baptist Health Medical Center - Fs | 314 |
| 2018-11-01 | Baptist Health Regional Hospitals | Van Buren Hma Llc | Baptist Health Medical Center - Vb | 74 |