Cornerstone Specialty Southwest Loui
dba Sage Specialty Hospital Of Lake Charles ·
Lake Charles, Calcasieu County, LA
· CCN 192013
Licensed to Sage Specialty Hospital Of Lake Charles, Llc
Already transacted. CMS recorded an ownership change effective
2025-03-01. Confirm the current owner before spending a call on this.
Composite
20.0
rank score
Distress
69
FY2024
Fit
65
vs thesis
Estimated ticket
$7.1M–$28.6M
28 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 90-150 days cash on hand
- current ratio under 1.5
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
- changed ownership 2025-03-01 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $8.8M |
| Operating margin | -33.2% |
| Total margin | -30.5% |
| Days cash on hand | 107 |
| Current ratio | 1.26 |
| Occupancy | 56% |
Facility
| Beds | 28 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 28 | $9.7M | $-164K | -1.7% | -1.7% | 61 | 0.61 | 53% | 229 | 60 |
| 2022 | 28 | $13.7M | $1.1M | 5.2% | 7.7% | 0 | -1.35 | 79% | 340 | 36 |
| 2023 | 28 | $13.0M | $580K | 3.5% | 4.4% | 67 | 1.76 | 72% | 333 | 21 |
| 2024 | 28 | $8.8M | $-2.7M | -33.2% | -30.5% | 107 | 1.26 | 56% | 237 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Patrick Mitchell | operational/managerial control | 100 | 2025-02 | |
| Pcm Holdings I, Inc. | 5% or greater indirect ownership interest | 80 | 2025-07 | |
| Pcm Intermediate Holdings Llc | 5% or greater indirect ownership interest | 80 | 2025-07 | |
| Pcm Rehab Enterprises Llc | 5% or greater direct ownership interest | 80 | 2025-03 | |
| Ptm 2018 Family Trust | 5% or greater indirect ownership interest | 79 | 2025-03 | |
| James Rambin | 5% or greater direct ownership interest | 10 | 2025-02 | |
| Rachel Mayeaux | 5% or greater direct ownership interest | 10 | 2025-02 | |
| Emily Holleman | other | 2022-12 | ||
| Kelly Mitchell | other | 2022-12 | ||
| Luke Moody | w-2 managing employee | 2025-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2025-03-01 | change of ownership | Sage Specialty Hospital Of... | Chg Hospital Sulphur Llc |
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 |
|---|---|---|---|---|
| 2025-03-01 | Sage Specialty Hospital Of Lake... | Chg Hospital Sulphur Llc | Cornerstone Specialty Southwest Loui | 28 |
| 2025-02-01 | Cornerstone Post Acute Care Of Bossier Llc | Chg Hospital Bossier City Llc | Cornerstone Specialty Bossier City | 43 |
| 2024-05-19 | Baton Rouge Specialty Hospital | Kpc Promise Hospital Of Baton Rouge, Llc | Kpc Promise Hospital Of Baton Rouge | 54 |
| 2019-09-30 | Pam Specialty Hospital Of Shreveport Llc | New Lifecare Hospitals, Llc | Pam Specialty Hospital Of Shreveport | 24 |
| 2019-08-30 | Intensive Specialty Hospital, Llc | Promise Hospital Of Louisiana, Inc | Intensive Specialty Hospital | 205 |
| 2017-08-31 | Sage Ltac Llc | Ltac Hospital Of Louisiana -... | Sage Specialty Care Hospital | 59 |