Southern Nevada Adult Mental Health
dba Southern Nevada Adult Mental Health Services ·
Las Vegas, Clark County, NV
· CCN 294002
Licensed to State Of Nevada
Composite
64.8
rank score
Distress
72
FY2024
Fit
81
vs thesis
Estimated ticket
$55.6M–$223M
289 beds ·
within envelope
Ownership
government
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- large — ticket likely stretches the envelope
- ticket size uses the capital envelope well
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $13.4M |
| Operating margin | -741.3% |
| Total margin | -8.1% |
| Days cash on hand | 0 |
| Current ratio | 7.54 |
| Occupancy | 57% |
Facility
| Beds | 289 |
| Facility type | PH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 289 | $29.4M | $24.2M | -185.5% | 22.3% | 84 | -39.99 | 32% | 956 | 57 |
| 2022 | 289 | $49.3M | $35.0M | -255.5% | 16.7% | 36 | -60.37 | 27% | 983 | 67 |
| 2023 | 289 | $24.7M | $15.7M | -284.5% | 14.2% | 0 | 21.62 | 24% | 874 | 59 |
| 2024 | 289 | $13.4M | $-8.4M | -741.3% | -8.1% | 0 | 7.54 | 57% | 888 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| State Of Nevada | 5% or greater direct ownership interest | 100 | 1966-01 | |
| Alan Sweet | w-2 managing employee | 17 | 2013-12 | |
| Paul Ripple | corporate director | 2010-05 | ||
| Paul Ripple | w-2 managing employee | 2010-05 |
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 NV
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 |
|---|---|---|---|---|
| 2024-08-01 | Spring Valley Medical Center | Uhs Of Spring Mountain Inc | Spring Mountain Treatment Center | 110 |
| 2024-08-01 | Spring Valley Medical Center | Uhs Sahara, Inc | Spring Mountain Sahara | 30 |
| 2024-08-01 | Thrive Behavioral Hospital Llc | Desert Winds Hospital Llc | Desert Winds Hospital | 114 |