Lake Butler Hospital
Lake Butler, Union County, FL
· CCN 101303
Licensed to Medlink Management Services Inc
Composite
30.2
rank score
Distress
15
FY2023
Fit
58
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
for-profit
CAH
Why it ranks here
- 90-150 days cash on hand
- occupancy 30-45%
- margin deteriorating
- 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 | $15.4M |
| Operating margin | 19.0% |
| Total margin | 20.4% |
| Days cash on hand | 146 |
| Current ratio | 6.24 |
| Occupancy | 33% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $11.4M | $3.4M | 9.2% | 24.6% | 235 | 2.23 | 33% | 17 | 6 |
| 2021 | 25 | $12.0M | $3.7M | 6.5% | 24.6% | 129 | 7.18 | 30% | 29 | 10 |
| 2022 | 25 | $12.9M | $2.1M | 9.4% | 15.1% | 112 | 6.59 | 27% | 26 | 13 |
| 2023 | 25 | $15.4M | $3.2M | 19.0% | 20.4% | 146 | 6.24 | 33% | 15 | 15 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Paula Webb | 5% or greater direct ownership interest | 50 | 1994-04 | |
| Paula Webb | corporate officer | 50 | 1994-04 | |
| Paula Webb | corporate director | 50 | 1994-04 | |
| Paula Webb | operational/managerial control | 50 | 1994-04 | |
| Rebecca Cason | w-2 managing employee | 50 | 2020-09 | |
| Rebecca Cason | operational/managerial control | 50 | 2020-09 | |
| Rebecca Cason | corporate officer | 33 | 2020-09 | |
| Rebecca Cason | corporate director | 33 | 2020-09 | |
| Paula Webb | w-2 managing employee | 1994-04 |
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 FL
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 |
|---|---|---|---|---|
| 2017-07-01 | Fishermen's Health Inc | Fishermen's Hospital, Inc. | Fishermens Hospital | 8 |