Hillcrest Hospital Cushing
Cushing, Payne County, OK
· CCN 370099
Licensed to Ahs Cushing Hospital Llc
Composite
56.4
rank score
Distress
88
FY2023
Fit
42
vs thesis
Estimated ticket
$1.7M–$3.4M
24 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- liabilities exceed assets
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $13.9M |
| Operating margin | -38.3% |
| Total margin | -32.5% |
| Days cash on hand | 1 |
| Current ratio | 1.73 |
| Occupancy | 29% |
Facility
| Beds | 24 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| 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 | 24 | $14.6M | $-1.2M | -30.8% | -6.8% | 1 | 0.11 | 24% | 644 | 96 |
| 2021 | 24 | $12.3M | $-3.1M | -33.8% | -23.2% | 1 | 0.12 | 29% | 564 | 100 |
| 2022 | 24 | $11.0M | $-6.1M | -66.6% | -50.5% | 1 | 1.19 | 20% | 367 | 90 |
| 2023 | 24 | $13.9M | $-4.7M | -38.3% | -32.5% | 1 | 1.73 | 29% | 503 | 88 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ahp Health Partners, Inc | 5% or greater indirect ownership interest | 100 | 2019-01 | |
| Ahs Hillcrest Healthcare System Llc | 5% or greater direct ownership interest | 100 | 2009-02 | |
| Ahs Management Company Inc. | operational/managerial control | 100 | 2019-01 | |
| Ahs Oklahoma, Llc | 5% or greater indirect ownership interest | 100 | 2019-01 | |
| Ardent Health Inc | 5% or greater indirect ownership interest | 100 | 2015-08 | |
| Ardent Legacy Holdings Llc | 5% or greater indirect ownership interest | 100 | 2015-08 | |
| Kevin Gross | w-2 managing employee | 100 | 2021-09 | |
| Kevin Gross | corporate officer | 2014-06 | ||
| Martin Bonick | corporate officer | 2020-08 | ||
| Mary Crabtree | corporate officer | 2021-09 | ||
| Mary Crabtree | corporate director | 2004-04 | ||
| Stephen Petrovich | corporate officer | 2004-04 |
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 OK
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 |
|---|---|---|---|---|
| 2025-12-01 | Comanche County Hospital Authority | Southwestern Medical Center, Llc | Comanche County Memorial Hospital | 183 |
| 2023-11-01 | Integris Health Ponca City Hospital Inc | Kay County Oklahoma Hospital Company, Llc | Ponca City Medical Center | 47 |
| 2023-11-01 | Integris Health Woodward Hospital Inc | Woodward Health System Llc | Alliancehealth Woodward | 40 |
| 2022-07-01 | St Anthony Shawnee Hospital Inc | Seminole Hma Llc | St Anthony Shawnee Hospital | 61 |
| 2021-04-01 | Ssm Health Care Of Oklahoma, Inc. | Midwest Regional Medical Center, Llc | Ssm Health St Anthony Hospital - Mid | 126 |
| 2019-01-01 | Saint Francis Hospital, Inc. | Saint Francis Home Health Inc. | Saint Francis Hospital | 903 |
| 2018-10-01 | Integris Baptist Medical Center Inc | Deaconess Health System Llc | Integris Baptist Medical Center | 615 |
| 2017-05-01 | Ahs Pryor Hospital, Llc | Mayes County Hma, Llc | Hillcrest Hospital Pryor | 21 |
| 2017-04-01 | Saint Francis Hospital Muskogee Inc | Muskogee Regional Medical Center Llc | Saint Francis Hospital Muskogee | 236 |