Permian Regional Medical Center
Andrews, Andrews County, TX
· CCN 450144
Licensed to Andrews County Hospital District
Composite
54.7
rank score
Distress
70
FY2023
Fit
58
vs thesis
Estimated ticket
$2.5M–$4.9M
35 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating sharply
- TX: favorable regulatory climate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $31.5M |
| Operating margin | -112.1% |
| Total margin | -0.6% |
| Days cash on hand | 15 |
| Current ratio | 3.37 |
| Occupancy | 8% |
Facility
| Beds | 35 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| 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 | 30 | $27.1M | $5.9M | -109.1% | 9.4% | 0 | 5.52 | 12% | 550 | 59 |
| 2021 | 31 | $31.8M | $1.5M | -84.7% | 2.5% | 14 | 2.12 | 19% | 941 | 59 |
| 2022 | 35 | $31.1M | $6.9M | -90.1% | 10.5% | 9 | 2.91 | 10% | 759 | 59 |
| 2023 | 35 | $31.5M | $-375K | -112.1% | -0.6% | 15 | 3.37 | 8% | 727 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrea Warnke | corporate director | 2018-01 | ||
| Andrews County Hospital District | operational/managerial control | 2003-01 | ||
| Carol Boswell | corporate director | 2007-06 | ||
| Donny Booth | corporate director | 2019-08 | ||
| Donny Booth | w-2 managing employee | 2019-08 | ||
| Elizabeth Boynton | corporate director | 2007-06 | ||
| Felicia Jamison | w-2 managing employee | 2022-05 | ||
| Jessica Varner | corporate director | 2022-05 | ||
| Manual Gonzales | corporate director | 2017-01 | ||
| Melody Starcher | w-2 managing employee | 2022-10 | ||
| Mike Sanchez | corporate director | 2020-11 | ||
| Morgan Mason | corporate director | 2018-10 | ||
| Morgan Mason | w-2 managing employee | 2018-10 | ||
| Sarah Bender | corporate director | 2023-11 |
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 |