Houston Healthcare
dba Emory Healthcare - Houston Healthcare ·
Warner Robins, Houston County, GA
· CCN 110069
Licensed to Houston Hospitals Inc
Composite
62.7
rank score
Distress
73
FY2023
Fit
74
vs thesis
Estimated ticket
$88.9M–$356M
254 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $275M |
| Operating margin | -8.5% |
| Total margin | -4.9% |
| Days cash on hand | 13 |
| Current ratio | 0.65 |
| Occupancy | 68% |
Facility
| Beds | 254 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 237 | $212M | $34.3M | -9.7% | 12.8% | 19 | 1.15 | 76% | 11,014 | 48 |
| 2021 | 237 | $248M | $16.3M | -4.5% | 5.9% | 9 | 1.47 | 79% | 11,045 | 41 |
| 2022 | 219 | $226M | $-44.1M | -11.9% | -21.1% | 3 | 0.86 | 78% | 12,275 | 76 |
| 2023 | 254 | $275M | $-14.2M | -8.5% | -4.9% | 13 | 0.65 | 68% | 12,829 | 73 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Houston Hospitals Inc | 5% or greater direct ownership interest | 100 | 2025-06 | |
| Houston Hospitals Inc | 5% or greater indirect ownership interest | 100 | 2025-06 | |
| Carla Cashio | w-2 managing employee | 2025-11 | ||
| Carla Cashio | operational/managerial control | 2025-11 | ||
| George Stalnaker | corporate director | 2025-12 | ||
| John Hall | corporate director | 2025-12 | ||
| Kevin Splaine | corporate director | 2025-12 | ||
| Scott Westmoreland | corporate director | 2025-12 | ||
| Shawn Carpenter | corporate director | 2025-12 |
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 GA
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 |
|---|---|---|---|---|
| 2023-11-01 | South Georgia Medical Center Inc | Hospital Authority Of Valdosta And... | South Georgia Medical Center | 261 |
| 2023-11-01 | South Georgia Medical Center Inc | Hospital Authority Of Valdosta And... | Sgmc Berrien Campus | 10 |
| 2023-07-01 | Northeast Georgia Medical Center... | The Hospital Authority Of Habersham County | Ngmc Habersham | 53 |
| 2021-07-03 | Navicent Health Baldwin, Inc | Navicent Health Oconee, Llc | Atrium Health Navicent Baldwin | 86 |
| 2021-06-22 | Burke Hospital Company | Burke County Hospital Authority | Burke Medical Center | 40 |
| 2021-05-01 | Vidalia Health Services, Llc | Meadows Regional Medical Center Inc | Meadows Regional Medical Center | 57 |
| 2018-02-01 | Savannah Health Services, Llc | Memorial Health University Medical... | Memorial Health Univ Med Center | 594 |
| 2017-12-29 | Chi Memorial Hospital - Georgia | Cornerstone Medical Center, Llc | Chi Memorial Hospital - Georgia | 35 |
| 2017-10-01 | Piedmont Rockdale Hospital, Inc. | Rockdale Hospital Llc | Piedmont Rockdale Hospital | 181 |
| 2017-05-01 | Southeast Georgia Health Services, Llc | Mayo Clinic Health System In Waycross, Inc | Memorial Satilla Health | 130 |
| 2017-01-01 | Ngmc Barrow Llc | Winder Hma Llc | Ngmc Barrow | 38 |
| 2016-04-01 | Wellstar Spalding Regional Hospital Inc | Spalding Regional Medical Center, Inc. | Spalding Regional Hospital | 170 |
| 2016-04-01 | Wellstar North Fulton Hospital Inc | North Fulton Medical Center, Inc. | North Fulton Regional Hospital | 178 |
| 2016-02-01 | Prime Healthcare Foundation -... | Southern Regional Health Center, Inc | Southern Regional Medical Center | 233 |
| 2016-01-01 | St Francis Health Llc | St Francis Hospital, Inc. | St. Francis Hospital Inc. | 312 |