Southern Surgical Hospital
dba Our Lady Of The Lake Surgical Hospital ·
Slidell, St. Tammany County, LA
· CCN 190270
Licensed to Lake Surgical Hospital Slidell Llc
Composite
54.2
rank score
Distress
68
FY2023
Fit
59
vs thesis
Estimated ticket
$15.7M–$62.9M
37 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 under 1.5
- liabilities exceed assets
- occupancy below 30%
- margin deteriorating
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $32.3M |
| Operating margin | -1.0% |
| Total margin | -0.8% |
| Days cash on hand | 11 |
| Current ratio | 1.40 |
| Occupancy | 14% |
Facility
| Beds | 37 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 37 | $25.4M | $983K | 1.6% | 3.8% | 46 | 2.15 | 17% | 1,024 | 43 |
| 2021 | 37 | $29.8M | $607K | 1.9% | 2.0% | 37 | 1.54 | 20% | 1,186 | 43 |
| 2022 | 37 | $32.6M | $737K | 2.1% | 2.3% | 17 | 1.53 | 18% | 1,149 | 42 |
| 2023 | 37 | $32.3M | $-262K | -1.0% | -0.8% | 11 | 1.40 | 14% | 816 | 68 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Our Lady Of The Lake Hospital Inc | 5% or greater indirect ownership interest | 33 | 2015-10 | |
| Michael Pisciotta | corporate officer | 2020-08 | ||
| Michael Pisciotta | w-2 managing employee | 2015-10 |
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 |