Covington County Hospital
Collins, Covington County, MS
· CCN 251325
Licensed to Covington County Hospital
Composite
51.4
rank score
Distress
67
FY2023
Fit
53
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $37.0M |
| Operating margin | -21.8% |
| Total margin | -8.8% |
| Days cash on hand | 45 |
| Current ratio | 3.44 |
| Occupancy | 57% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $22.9M | $4.3M | -27.5% | 12.8% | 113 | 2.09 | 64% | 248 | 32 |
| 2021 | 25 | $35.6M | $4.9M | -10.6% | 11.1% | 72 | 1.78 | 52% | 198 | 40 |
| 2022 | 25 | $33.7M | $884K | -26.3% | 2.0% | 69 | 3.50 | 53% | 124 | 40 |
| 2023 | 25 | $37.0M | $-3.6M | -21.8% | -8.8% | 45 | 3.44 | 57% | 153 | 67 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Charlie Anglin | corporate director | 100 | 2007-10 | |
| Everlean Booth | corporate director | 100 | 2005-11 | |
| Greg Sanford | corporate director | 100 | 2008-01 | |
| Greg Sullivan | corporate director | 100 | 2007-10 | |
| Gregg Gibbes | corporate officer | 100 | 2016-04 | |
| Gregg Gibbes | w-2 managing employee | 100 | 2016-04 | |
| Gregg Gibbes | operational/managerial control | 100 | 2016-04 | |
| James Mcphail | corporate director | 100 | 2009-01 | |
| Robert Johnson | corporate director | 100 | 2007-01 | |
| Missy Gamber | contracted managing employee | 2016-01 |
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 MS
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 |
|---|---|---|---|---|
| 2020-02-01 | Forrest County General Hospital | Pearl River County Hospital & Nursing Home | Pearl River County Hospital | 24 |
| 2017-10-01 | Boa Vida Hospital Of Aberdeen Ms Llc | Pioneer Health Services Of Monroe... | Monroe Regional Hospital | 25 |