Carlsbad Medical Center
Carlsbad, Eddy County, NM
· CCN 320063
Licensed to Carlsbad Medical Center Llc
Composite
37.9
rank score
Distress
37
FY2024
Fit
53
vs thesis
Estimated ticket
$5.3M–$10.6M
53 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $112M |
| Operating margin | 28.8% |
| Total margin | 29.3% |
| Days cash on hand | 0 |
| Current ratio | -0.05 |
| Occupancy | 40% |
Facility
| Beds | 53 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 62 | $84.2M | $20.4M | 22.5% | 23.8% | 0 | -0.04 | 28% | 1,568 | 44 |
| 2022 | 62 | $109M | $35.3M | 30.6% | 31.8% | 0 | -0.04 | 39% | 1,845 | 41 |
| 2023 | 53 | $97.1M | $21.1M | 19.9% | 21.3% | 0 | -0.05 | 35% | 1,903 | 41 |
| 2024 | 53 | $112M | $33.2M | 28.8% | 29.3% | 0 | -0.05 | 40% | 2,271 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chs Community Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2013-10 | |
| Hma-Tri Holdings Llc | 5% or greater indirect ownership interest | 100 | 2015-12 | |
| Tennyson Holdings Llc | 5% or greater indirect ownership interest | 100 | 2013-10 | |
| Triad Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2015-12 | |
| Triad Holdings V Llc | 5% or greater direct ownership interest | 100 | 2007-12 | |
| Carlsbad Medical Center Llc | 5% or greater direct ownership interest | 2010-12 | ||
| Christopher Cobb | corporate officer | 2022-03 | ||
| Edna Buffington-Price | corporate director | 2022-03 | ||
| Jason Johnson | corporate officer | 2020-01 | ||
| Justin Pitt | corporate officer | 2022-03 | ||
| Justin Pitt | corporate director | 2022-03 | ||
| Kevin Hammons | corporate officer | 2022-03 | ||
| Kevin Hammons | corporate director | 2022-03 | ||
| Nathaniel Summar | corporate director | 2017-07 | ||
| Nicholas Arledge | w-2 managing employee | 2021-04 | ||
| Paula Lalor | corporate director | 2017-04 | ||
| Roman Ottinger | corporate officer | 2020-01 | ||
| William Cash | corporate officer | 2022-03 |
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 NM
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 | Unm Hospital | Unm Sandoval Regional Medical Center, Inc | University Of New Mexico Hospital | 508 |
| 2021-01-01 | Covenant Hospital Hobbs | Lea Regional Hospital Llc | Covenant Health Hobbs Hospital | 25 |
| 2020-07-01 | San Juan Regional Medical Center, Inc. | San Juan Regional Rehabilitation... | San Juan Regional Medical Center | 182 |