Franklin Medical Center
Winnsboro, Franklin Parish County, LA
· CCN 190140
Licensed to Franklin Parish Hospital Service Dist 1
Composite
33.9
rank score
Distress
37
FY2024
Fit
43
vs thesis
Estimated ticket
$3.1M–$6.2M
31 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- 90-150 days cash on hand
- occupancy below 30%
- 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
Latest financials · FY2024
| Net patient revenue | $42.6M |
| Operating margin | -18.3% |
| Total margin | 5.7% |
| Days cash on hand | 147 |
| Current ratio | 2.86 |
| Occupancy | 18% |
Facility
| Beds | 31 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 31 | $31.0M | $-1.5M | -20.3% | -4.3% | 186 | 0.98 | 15% | 438 | 62 |
| 2022 | 31 | $36.9M | $6.3M | -12.1% | 13.2% | 173 | 1.92 | 19% | 575 | 37 |
| 2023 | 31 | $41.2M | $9.5M | -10.1% | 17.3% | 181 | 3.48 | 17% | 524 | 37 |
| 2024 | 31 | $42.6M | $3.1M | -18.3% | 5.7% | 147 | 2.86 | 18% | 515 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charlotte Boone | w-2 managing employee | 2007-11 | ||
| Floyda Hicks | corporate director | 2007-08 | ||
| Greg Kincaid | corporate director | 2013-12 | ||
| Jesse Young | corporate officer | 2018-05 | ||
| Michael Kramer | corporate officer | 2010-01 | ||
| Nicholas Poulos | corporate director | 2010-02 | ||
| Paul Price | limited partnership interest | 2009-11 | ||
| Paul Price | other | 2009-11 |
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 LA
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 |
|---|---|---|---|---|
| 2024-10-30 | Hsa Glenwood Llc | Iasis Glenwood Regional Medical Center Lp | Glenwood Regional Medical Center | 212 |
| 2022-04-01 | Ochsner American Legion Hospital, Llc | Jennings American Legion Hospital Inc | Ochsner American Legion Hospital | 49 |
| 2020-07-01 | Clhg-Ruston Llc | Ruston Louisiana Hospital Company Llc | North Louisiana Medical Center | 122 |
| 2019-10-01 | Thibodaux Regional Health System Inc | Hospital Service District No. 3 | Thibodaux Regional Health System | 170 |
| 2019-10-01 | Ochsner Morgan City Llc | Phc-Morgan City Lp | Ochsner St. Mary | 105 |
| 2019-03-01 | Our Lady Of Lourdes Regional... | The Regional Health System Of Acadiana, Llc | Our Lady Of Lourdes Rmc | 383 |
| 2019-03-01 | Our Lady Of The Lake Hospital Inc | Our Lady Of The Lake Ascension... | Our Lady Of The Lake Rmc | 647 |
| 2018-10-01 | University Health Shreveport, Llc | Brfhh Shreveport Llc | Ochsner Lsu Health Shreveport | 237 |
| 2018-09-01 | St Francis Medical Center Inc | P & S Surgery Center Llc | St. Francis Medical Center | 332 |
| 2018-08-01 | Clhg - Minden, Llc | Phc - Minden, Lp | Minden Medical Center | 129 |
| 2018-08-01 | Clhg-Ville Platte Llc | Ville Platte Medical Center Llc | Mercy Regional Medical Center | 27 |
| 2017-10-01 | Willis Knighton Medical Center, Inc. | Willis Knighton Medical Center, Inc. | Willis-Knighton Health Systems | 674 |