Sterlington Critical Access Hospital
dba Sterlington Rehabilitation Hospital ·
Bastrop, Morehouse Parish County, LA
· CCN 193069
Licensed to Sterlington Critical Access Hospital Llc
Composite
58.0
rank score
Distress
72
FY2023
Fit
64
vs thesis
Estimated ticket
$2.3M–$9.1M
10 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- operating margin -10% to -5%
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- debt above 70% of assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- very small facility
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $8.3M |
| Operating margin | -9.0% |
| Total margin | -8.5% |
| Days cash on hand | 3 |
| Current ratio | 1.24 |
| Occupancy | 72% |
Facility
| Beds | 10 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $228K |
| Per-bed (high) | $910K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 10 | $6.4M | $2.2M | -44.1% | 19.5% | 45 | 11.45 | 71% | 213 | 44 |
| 2021 | 10 | $6.4M | $906K | -40.1% | 9.2% | 23 | 8.30 | 71% | 199 | 50 |
| 2022 | 10 | $7.7M | $-1.5M | -20.5% | -19.8% | 0 | 2.28 | 74% | 207 | 67 |
| 2023 | 10 | $8.3M | $-706K | -9.0% | -8.5% | 3 | 1.24 | 72% | 217 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Physicians Rehab | 5% or greater direct ownership interest | 100 | 2004-03 | |
| Accord Consulting Group Llc | 5% or greater indirect ownership interest | 25 | 2017-01 | |
| Hospitals' Inc. | 5% or greater indirect ownership interest | 25 | 2016-01 | |
| Hospitals' Inc. | operational/managerial control | 25 | 2016-01 | |
| Robert Miller | 5% or greater indirect ownership interest | 25 | 2023-02 | |
| Allen Spires | 5% or greater indirect ownership interest | 12 | 2008-11 | |
| Allen Spires | corporate director | 12 | 2008-11 | |
| Allen Spires | operational/managerial control | 12 | 2006-11 | |
| George Webb | contracted managing employee | 12 | 2010-12 | |
| George Webb | 5% or greater indirect ownership interest | 12 | 2008-11 | |
| Jack Noble | w-2 managing employee | 12 | 2016-07 | |
| John Lipka | 5% or greater indirect ownership interest | 12 | 2008-11 | |
| Catherine Waldrop | 5% or greater indirect ownership interest | 8 | 2016-01 | |
| Catherine Waldrop | w-2 managing employee | 8 | 2004-07 | |
| Catherine Waldrop | operational/managerial control | 8 | 2004-07 | |
| Julene Mcalister | 5% or greater indirect ownership interest | 8 | 2016-01 | |
| Julene Mcalister | w-2 managing employee | 8 | 2016-01 | |
| Julene Mcalister | operational/managerial control | 8 | 2016-01 | |
| Katherine Schroeder | 5% or greater indirect ownership interest | 8 | 2016-01 | |
| Katherine Schroeder | w-2 managing employee | 8 | 2016-01 | |
| Katherine Schroeder | operational/managerial control | 8 | 2016-01 | |
| Jack Noble | 5% or greater indirect ownership interest | 2008-11 |
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 |
|---|---|---|---|---|
| 2024-01-01 | Rosemill Llc | United Medical Healthcare Inc | United Medical Rehabilitation Hospit | 40 |