Tulsa Spine Hospital
dba Tulsa Spine Hospital Llc ·
Tulsa, Tulsa County, OK
· CCN 370216
Licensed to Tulsa Spine & Specialty Hospital
Composite
36.4
rank score
Distress
23
FY2023
Fit
65
vs thesis
Estimated ticket
$19.0M–$76.0M
38 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 30-60 days cash on hand
- occupancy below 30%
- urban — higher occupancy and iteration surface
- small but workable bed count
- ticket size somewhat below the envelope
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $83.5M |
| Operating margin | 16.5% |
| Total margin | 19.3% |
| Days cash on hand | 38 |
| Current ratio | 1.81 |
| Occupancy | 17% |
Facility
| Beds | 38 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 38 | $67.9M | $11.7M | 15.1% | 16.9% | 93 | 1.83 | 20% | 902 | 13 |
| 2021 | 38 | $71.1M | $13.4M | 15.4% | 18.2% | 83 | 2.07 | 17% | 879 | 19 |
| 2022 | 38 | $69.5M | $10.2M | 11.6% | 14.2% | 56 | 2.27 | 16% | 869 | 26 |
| 2023 | 38 | $83.5M | $16.6M | 16.5% | 19.3% | 38 | 1.81 | 17% | 935 | 23 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ahs Management Company Inc. | operational/managerial control | 100 | 2020-01 | |
| Ahp Health Partners, Inc | 5% or greater indirect ownership interest | 51 | 2014-12 | |
| Ahs Hillcrest Healthcare System Llc | 5% or greater indirect ownership interest | 51 | 2014-12 | |
| Ahs Oklahoma, Llc | 5% or greater indirect ownership interest | 51 | 2014-12 | |
| Ahs Tulsa Holdings Llc | 5% or greater direct ownership interest | 51 | 2014-12 | |
| Ardent Health Inc | 5% or greater indirect ownership interest | 51 | 2014-12 | |
| Ardent Legacy Holdings Llc | 5% or greater indirect ownership interest | 51 | 2014-12 | |
| Tulsa Spine & Speciality Holding Compnay Llc | 5% or greater direct ownership interest | 49 | 2012-12 | |
| Bruce Hudkins | corporate director | 2018-06 | ||
| Daniel Boedeker | corporate director | 2023-06 | ||
| Guy Sneed | corporate director | 2018-06 | ||
| Mary Crabtree | corporate officer | 2021-09 | ||
| Richard Thomas | corporate director | 2018-06 | ||
| Shihao Zhang | corporate director | 2023-06 | ||
| Stephen Brownlee | corporate director | 2018-06 | ||
| Stephen Petrovich | corporate officer | 2021-01 | ||
| Tom Hamilton | corporate director | 2018-06 | ||
| Trent Gastineau | corporate officer | 2018-03 | ||
| Trent Gastineau | w-2 managing employee | 2018-03 |
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 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 |