Fulton County Hospital
Salem, Fulton County, AR
· CCN 041322
Licensed to Baxter Health Fulton County Hospital
Already transacted. CMS recorded an ownership change effective
2024-12-31. Confirm the current owner before spending a call on this.
Composite
13.5
rank score
Distress
48
FY2024
Fit
38
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- 30-60 days cash on hand
- occupancy below 30%
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
- changed ownership 2024-12-31 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $9.9M |
| Operating margin | -16.9% |
| Total margin | 27.6% |
| Days cash on hand | 44 |
| Current ratio | 3.35 |
| Occupancy | 26% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 25 | $9.8M | $908K | -5.9% | 8.1% | 37 | 5.28 | 45% | 517 | 44 |
| 2022 | 25 | $8.8M | $-332K | -25.5% | -3.1% | 31 | 6.74 | 29% | 342 | 66 |
| 2023 | 25 | $5.9M | $-3.6M | -84.1% | -50.2% | 1 | 2.30 | 20% | 176 | 80 |
| 2024 | 25 | $9.9M | $4.4M | -16.9% | 27.6% | 44 | 3.35 | 26% | 188 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Baxter Regional Health System | 5% or greater direct ownership interest | 100 | 2024-12 | chain |
| Baxter Regional Health System | operational/managerial control | 100 | 2024-12 | chain |
| Anthony Reed | w-2 managing employee | 2024-01 | ||
| Debra Henry | corporate officer | 2024-01 | ||
| Debra Henry | w-2 managing employee | 2024-01 | ||
| Debra Henry | operational/managerial control | 2024-12 | ||
| Griffin Arnold | corporate director | 2024-06 | ||
| Heather Loftis | corporate director | 2024-06 | ||
| Jerry Cunningham | corporate director | 2024-06 | ||
| Lucinda Crow | w-2 managing employee | 2024-12 | ||
| Paul Wade | corporate director | 2024-06 | ||
| Randy Hopper | corporate director | 2024-06 | ||
| Rondell Peterson | corporate director | 2024-01 | ||
| Trena Spears | corporate director | 2024-06 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2024-12-31 | change of ownership | Baxter Health Fulton County Hospital | Fulton County Hospital |
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 |
|---|---|---|---|---|
| 2024-12-31 | Baxter Health Fulton County Hospital | Fulton County Hospital | Fulton County Hospital | 25 |
| 2022-01-01 | Dardanelle Regional Llc | Dardanelle Hospital Yell County | Dardanelle Hospital | 25 |
| 2019-01-01 | Lawrence Memorial Health Foundation Inc | Lawrence Memorial Hospital | Lawrence Memorial Hospital | 24 |