Ascension Providence
Waco, TX
· CCN 450042
Licensed to Ascension Providence
Composite
59.6
rank score
Distress
64
FY2024
Fit
77
vs thesis
Estimated ticket
$19.1M–$38.2M
225 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- TX: favorable regulatory climate
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $291M |
| Operating margin | -7.8% |
| Total margin | -4.8% |
| Days cash on hand | 0 |
| Current ratio | 1.11 |
| Occupancy | 68% |
Facility
| Beds | 225 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 225 | $283M | $49.1M | 4.3% | 15.3% | 0 | 0.72 | 79% | 14,235 | 43 |
| 2022 | 225 | $295M | $2.2M | -3.2% | 0.7% | 0 | 0.76 | 79% | 13,416 | 59 |
| 2023 | 225 | $297M | $-4.3M | -8.3% | -1.4% | 0 | 1.26 | 72% | 12,835 | 56 |
| 2024 | 225 | $291M | $-14.5M | -7.8% | -4.8% | 0 | 1.11 | 68% | 12,680 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ascension Providence | operational/managerial control | 100 | 2000-08 | |
| Ascension Health | operational/managerial control | 1999-11 | ||
| Ascension Texas | operational/managerial control | 2012-05 | ||
| Ashley Dickinson | w-2 managing employee | 2023-08 | ||
| Chris Wheeler | corporate director | 2022-07 | ||
| Dave Clarke | corporate director | 2021-07 | ||
| Erik Pronske | corporate director | 2022-07 | ||
| Jeffrey Manning | corporate director | 2020-07 | ||
| John Atkins | corporate director | 2022-07 | ||
| Julie Holly | corporate director | 2013-03 | ||
| Julie Holly | w-2 managing employee | 2016-11 | ||
| Karen Kennards | corporate director | 2024-11 | ||
| Philip Patterson | w-2 managing employee | 2018-02 | ||
| William Davis | corporate director | 2017-11 | ||
| William Davis | w-2 managing employee | 2017-11 |
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 TX
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 |
|---|---|---|---|---|
| 2025-02-01 | Texas Heart Hospital Of The Southwest Llc | Baylor Heart & Vascular Center Llp | Baylor Heart And Vascular Hospital | 56 |
| 2024-10-30 | Hsa Port Arthur, Llc | The Medical Center Of Southeast Texas Lp | The Medical Ctr Of Southeast Texas | 196 |
| 2024-10-30 | Hsa St. Joseph, Llc | Sj Medical Center Llc | St Joseph Medical Center | 156 |
| 2024-10-17 | Big Spring Texas Hospital Company Llc | Steward Texas Hospital Holdings Llc | Scenic Mountain Medical Center | 75 |
| 2024-10-17 | Odessa Texas Hospital Company Llc | Odessa Regional Hospital Lp | Odessa Regional Hospital | 208 |
| 2024-06-01 | Columbia Medical Center Of Denton... | Decatur Health Services Llc | Medical City Denton | 184 |
| 2024-03-11 | Nacogdoches County Hospital District | Lion Star Nacogdoches Hospital, Llc | Nacogdoches Memorial Hosp | 160 |
| 2024-01-01 | Ahs Sherman Llc | Sherman Grayson Hospital Llc | Wilson N Jones Regional Medical Ctr | 214 |
| 2023-04-01 | Methodist Healthcare System Of San... | Hill Country Memorial Hospital | Hill Country Memorial Hospital | 57 |
| 2021-06-01 | Methodist Hospitals Of Dallas | Metsl, Llc | Methodist Southlake Medical Center | 22 |
| 2020-10-27 | Hendrick Medical Center | Armc Lp | Hendrick Medical Center | 533 |
| 2020-10-27 | Hendrick Medical Center Brownwood | Brownwood Hospital Lp | Hendrick Medical Center Brownwood | 63 |
| 2020-07-01 | St Joseph Regional Health Center | St Joseph Regional Health Center | St. Joseph Regional Health Center | 284 |
| 2020-04-01 | Christus Santa Rosa Health Care Corporation | Adventist Health System/sunbelt, Inc. | Christus Santa Rosa - San Marcos | 105 |
| 2020-03-01 | Sana Healthcare Carrollton | Baylor Medical Center At Carrollton | Carrollton Regional Medical Center | 89 |