Medical Arts Hospital
Lamesa, Dawson County, TX
· CCN 450489
Licensed to Dawson County Hospital District
Composite
58.7
rank score
Distress
85
FY2024
Fit
51
vs thesis
Estimated ticket
$1.5M–$2.9M
21 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- margin deteriorating sharply
- TX: favorable regulatory climate
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $13.6M |
| Operating margin | -59.3% |
| Total margin | -24.4% |
| Days cash on hand | 56 |
| Current ratio | 0.73 |
| Occupancy | 15% |
Facility
| Beds | 21 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 22 | $12.5M | $4.5M | -53.8% | 18.8% | 228 | 1.02 | 23% | 482 | 40 |
| 2022 | 21 | $14.4M | $4.6M | -36.0% | 19.1% | 154 | 1.45 | 25% | 430 | 40 |
| 2023 | 21 | $12.4M | $-3.1M | -61.7% | -17.9% | 133 | 1.46 | 13% | 293 | 61 |
| 2024 | 21 | $13.6M | $-4.2M | -59.3% | -24.4% | 56 | 0.73 | 15% | 265 | 85 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Michael Johnson | corporate director | 20 | 2017-05 | |
| Colby Reeves | corporate officer | 2022-08 | ||
| Colby Reeves | w-2 managing employee | 2021-06 | ||
| David Sanderson | corporate director | 2021-06 | ||
| Dawson County Hospital District | 5% or greater direct ownership interest | 2005-04 | ||
| Dawson County Hospital District | operational/managerial control | 2005-04 | ||
| Jo Smith | corporate officer | 2021-11 | ||
| Jo Smith | w-2 managing employee | 2012-08 | ||
| Letha Stokes | corporate officer | 2008-01 | ||
| Letha Stokes | w-2 managing employee | 2008-01 | ||
| Lisa Sherrill | corporate director | 2021-01 | ||
| Lisa Sherrill | w-2 managing employee | 2018-08 | ||
| Nicky Chapman | corporate director | 2021-06 |
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 |