Limestone Medical Center
Groesbeck, Limestone County, TX
· CCN 451303
Licensed to South Limestone Hospital District
Composite
33.2
rank score
Distress
33
FY2023
Fit
46
vs thesis
Estimated ticket
$1.7M–$3.4M
20 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- occupancy below 30%
- 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 · FY2023
| Net patient revenue | $20.5M |
| Operating margin | -30.0% |
| Total margin | 5.5% |
| Days cash on hand | 1,139 |
| Current ratio | 4.84 |
| Occupancy | 23% |
Facility
| Beds | 20 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 20 | $14.9M | $6.2M | -51.3% | 2.9% | 668 | 4.04 | 23% | 152 | 37 |
| 2021 | 20 | $19.0M | $13.3M | -28.0% | 6.7% | 805 | 2.62 | 33% | 303 | 33 |
| 2022 | 20 | $18.1M | $8.2M | -43.5% | 4.3% | 868 | 4.56 | 25% | 191 | 37 |
| 2023 | 20 | $20.5M | $10.9M | -30.0% | 5.5% | 1,139 | 4.84 | 23% | 209 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| South Limestone Hospital District | operational/managerial control | 14 | 1996-08 | |
| Arnold Gray | corporate director | 2018-05 | ||
| Cathy Knouse | w-2 managing employee | 2013-06 | ||
| Cheryl Hardin | w-2 managing employee | 2010-03 | ||
| Debbie Brewer | w-2 managing employee | 2010-03 | ||
| Glenda O'neal | corporate director | 2012-07 | ||
| Herbert Hewitt | corporate director | 2009-05 | ||
| Jack Milstead | corporate director | 2019-01 | ||
| Jennifer Mackey | corporate director | 2020-05 | ||
| Kent Wilson | corporate director | 2022-01 | ||
| Larry Price | corporate director | 2005-05 | ||
| Larry Price | w-2 managing employee | 2005-05 | ||
| Martha Stanton | corporate director | 2013-06 |
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 |
|---|---|---|---|---|
| 2024-03-01 | Muleshoe Area Hospital District | Preferred Hospital Leasing Muleshoe Inc | Muleshoe Area Medical Center | 25 |
| 2023-07-01 | Pecos County Memorial Hospital District | Pecos County Memorial Hospital | Pecos County Memorial Hospital | 25 |
| 2021-10-01 | Preferred Hospital Leasing Shamrock Inc | South Wheeler County Hospital District | Shamrock General Hospital | 25 |
| 2019-07-01 | Bosque County Hospital District | Goodall-Witcher Hospital Authority | Goodall-Witcher Hospital Authority | 25 |
| 2017-10-01 | Winkler County Hospital District | County Of Winkler | Memorial Hospital | 16 |