Rice Medical Center
Eagle Lake, Colorado County, TX
· CCN 451312
Licensed to Cahrmc Llc
Composite
27.2
rank score
Distress
17
FY2023
Fit
49
vs thesis
Estimated ticket
$1.8M–$3.6M
21 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- 60-90 days cash on hand
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $22.9M |
| Operating margin | 20.4% |
| Total margin | 33.8% |
| Days cash on hand | 67 |
| Current ratio | 3.73 |
| Occupancy | 15% |
Facility
| Beds | 21 |
| Facility type | CAH |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 21 | $9.9M | $3.5M | -45.1% | 19.5% | 41 | 4.19 | 9% | 122 | 53 |
| 2021 | 21 | $10.9M | $3.2M | -46.2% | 16.6% | 4 | 4.66 | 8% | 126 | 59 |
| 2022 | 21 | $12.2M | $3.1M | -35.4% | 15.8% | 45 | 1.39 | 9% | 115 | 57 |
| 2023 | 21 | $22.9M | $9.3M | 20.4% | 33.8% | 67 | 3.73 | 15% | 148 | 17 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Eagle Lake Community Hospital | 5% or greater direct ownership interest | 100 | 2023-01 | |
| Eagle Lake Community Hospital | operational/managerial control | 100 | 2023-01 | |
| Brian Mcbride | w-2 managing employee | 2015-11 | ||
| Charles Slaton | corporate director | 2009-12 | ||
| Dina Hermes | w-2 managing employee | 2015-11 | ||
| Kurt Sunderman | corporate officer | 2022-04 | ||
| Kurt Sunderman | corporate director | 2022-04 | ||
| Kurt Sunderman | operational/managerial control | 2022-04 | ||
| Maryjo Spanihel | w-2 managing employee | 2013-04 |
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 |
|---|---|---|---|---|
| 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 |