Covenant Health Hobbs Hospital
Hobbs, Lea County, NM
· CCN 320065
Licensed to Covenant Hospital Hobbs
Composite
65.5
rank score
Distress
97
FY2024
Fit
50
vs thesis
Estimated ticket
$1.8M–$3.5M
25 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 30-45%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $37.9M |
| Operating margin | -87.9% |
| Total margin | -82.7% |
| Days cash on hand | 0 |
| Current ratio | -4.84 |
| Occupancy | 37% |
Facility
| Beds | 25 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 61 | $42.9M | $5.5M | -2.8% | 11.0% | 0 | -0.02 | 26% | 1,900 | 60 |
| 2021 | 61 | $22.4M | $23.2M | -1.1% | 50.6% | 160 | 1.15 | 20% | 868 | 28 |
| 2022 | 61 | $44.3M | $-6.3M | -13.7% | -13.9% | 1 | 0.22 | 26% | 1,979 | 89 |
| 2023 | 34 | $31.8M | $-17.7M | -57.7% | -54.8% | 0 | -5.99 | 27% | 1,105 | 89 |
| 2024 | 25 | $37.9M | $-32.2M | -87.9% | -82.7% | 0 | -4.84 | 37% | 1,026 | 97 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Covenant Health System | 5% or greater direct ownership interest | 100 | 2021-01 | |
| St. Joseph Health System | other | 57 | 2021-01 | chain |
| Lubbock Methodist Hospital System | other | 43 | 2021-01 | |
| Alfredo Turrubiates | corporate director | 2024-01 | ||
| Carabeth Moore | corporate director | 2024-01 | ||
| Clay Schneiter | corporate director | 2025-01 | ||
| Cora Rivera | corporate officer | 2023-10 | ||
| Debra Hicks | corporate director | 2021-08 | ||
| Derrick Jones | corporate officer | 2025-03 | ||
| Donald Anderson | corporate officer | 2021-01 | ||
| Dustin Armstrong | corporate director | 2026-01 | ||
| Dyana Kerr | w-2 managing employee | 2023-03 | ||
| Gregory Hoffman | corporate officer | 2023-01 | ||
| Joel White | corporate director | 2024-01 | ||
| Joseph Cotton | corporate director | 2021-08 | ||
| Joshua Grassham | corporate director | 2021-08 | ||
| Kathleen Burrell | corporate officer | 2023-03 | ||
| Providence Health & Services - Washington | operational/managerial control | 2021-01 | ||
| Providence St. Joseph Health | other | 2021-01 | ||
| Rebecca Titus | corporate director | 2025-01 | ||
| Rosa Carrillo | corporate director | 2021-08 | ||
| Shawn Hardison | corporate director | 2026-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-01-01 | change of ownership | Covenant Hospital Hobbs | Lea Regional Hospital Llc |
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 |