Baylor Surgical Hospital At Fort Wor
dba Baylor Scott & White Surgical Hospital - Fort Worth ·
Fort Worth, TX
· CCN 450880
Licensed to Fort Worth Surgicare Partners, Ltd.
Composite
36.1
rank score
Distress
17
FY2023
Fit
71
vs thesis
Estimated ticket
$15.0M–$60.0M
30 beds ·
within envelope
Ownership
for-profit
ORD
Why it ranks here
- 60-90 days cash on hand
- occupancy below 30%
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- small but workable bed count
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $130M |
| Operating margin | 22.3% |
| Total margin | 22.8% |
| Days cash on hand | 74 |
| Current ratio | 2.24 |
| Occupancy | 26% |
Facility
| Beds | 30 |
| Facility type | ORD |
| 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 | 30 | $110M | $20.5M | 16.4% | 18.3% | 120 | 2.40 | 27% | 1,474 | 13 |
| 2021 | 30 | $128M | $28.0M | 18.0% | 21.1% | 58 | 2.28 | 25% | 1,293 | 26 |
| 2022 | 30 | $136M | $20.9M | 14.8% | 15.3% | 23 | 2.06 | 28% | 1,442 | 31 |
| 2023 | 30 | $130M | $29.7M | 22.3% | 22.8% | 74 | 2.24 | 26% | 1,343 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Baylor University Medical Center | other | 1 | 2018-09 | |
| Donita Fleming | corporate officer | 2022-06 | ||
| Donita Fleming | corporate director | 2022-06 | ||
| Hcn Surgery Center Holdings Inc | 5% or greater indirect ownership interest | 2015-06 | ||
| Steven Schaefer | corporate officer | 2025-12 | ||
| Steven Schaefer | w-2 managing employee | 2025-12 | ||
| Susan Callaway | corporate officer | 2024-03 | ||
| Susan Callaway | w-2 managing employee | 2024-03 | ||
| Tenet Healthcare Corporation | 5% or greater indirect ownership interest | 2015-06 | ||
| Texas Health Ventures Group Llc | 5% or greater indirect ownership interest | 2006-07 | ||
| Texas Health Ventures Group Llc | operational/managerial control | 2006-07 | ||
| Thvg Ft. Worth Gp, Llc | 5% or greater direct ownership interest | 2006-07 | ||
| United Surgical Partners Holdings Inc | 5% or greater indirect ownership interest | 2006-07 | ||
| United Surgical Partners International Inc | 5% or greater indirect ownership interest | 2004-03 | ||
| Usp Domestic Holdings Inc | 5% or greater indirect ownership interest | 2004-03 | ||
| Usp North Texas Inc | 5% or greater direct ownership interest | 2009-09 | ||
| Usp North Texas Inc | 5% or greater indirect ownership interest | 2009-09 | ||
| Uspi Group Holdings Inc | 5% or greater indirect ownership interest | 2007-04 | ||
| Uspi Holding Company Inc | 5% or greater indirect ownership interest | 2015-06 | ||
| Uspi Holdings Inc | 5% or greater indirect ownership interest | 2007-04 |
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 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 |
|---|---|---|---|---|
| 2018-03-01 | Baylor Scott & White Medical... | Tenet Frisco, Ltd. | Centennial Medical Center | 118 |