Forrest City Medical Center
Forrest City, St. Francis County, AR
· CCN 040019
Licensed to Forrest City Arkansas Hospital Company, Llc
Composite
53.6
rank score
Distress
72
FY2023
Fit
53
vs thesis
Estimated ticket
$3.4M–$6.7M
48 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $34.2M |
| Operating margin | -3.6% |
| Total margin | -2.7% |
| Days cash on hand | 0 |
| Current ratio | 0.28 |
| Occupancy | 31% |
Facility
| Beds | 48 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| 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 | 56 | $31.0M | $4.6M | 1.0% | 12.9% | 0 | -0.62 | 27% | 1,772 | 51 |
| 2021 | 48 | $30.3M | $8.8M | -10.5% | 20.9% | 0 | 0.27 | 35% | 1,763 | 73 |
| 2022 | 48 | $30.3M | $-2.9M | -17.3% | -8.8% | 0 | 0.21 | 34% | 1,716 | 90 |
| 2023 | 48 | $34.2M | $-935K | -3.6% | -2.7% | 0 | 0.28 | 31% | 1,533 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Forrest City Holdings Llc | 5% or greater direct ownership interest | 100 | 2016-04 | |
| Goldentree Distressed Master Fund Iii Ltd | 5% or greater indirect ownership interest | 100 | 2020-07 | |
| Quincy Health Llc | 5% or greater indirect ownership interest | 100 | 2020-07 | |
| Quorum Health Corporation | 5% or greater indirect ownership interest | 100 | 2016-04 | |
| Quorum Health Investment Company Llc | 5% or greater indirect ownership interest | 100 | 2016-04 | |
| Goldentree Select Offshore Intermediate Fund Lp | 5% or greater indirect ownership interest | 82 | 2020-07 | |
| Gtam Onshore Blocker 2 Llc | 5% or greater indirect ownership interest | 19 | 2023-12 | |
| Goldentree Distressed Onshore Master Fund Iii Lp | 5% or greater indirect ownership interest | 13 | 2020-08 | |
| Christopher Harrison | corporate officer | 2025-04 | ||
| Christopher Harrison | corporate director | 2025-04 | ||
| Donald Esposito | corporate officer | 2021-09 | ||
| Donald Esposito | corporate director | 2021-09 | ||
| Henry Kunath | corporate officer | 2023-09 | ||
| Henry Kunath | corporate director | 2023-09 | ||
| Laura Fey | corporate director | 2018-08 | ||
| Laura Fey | w-2 managing employee | 2018-08 | ||
| Steven Frantz | corporate director | 2022-08 |
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 |