Martin County Hospital
Stanton, TX
· CCN 451333
Licensed to Martin County Hospital District
Composite
33.2
rank score
Distress
33
FY2024
Fit
46
vs thesis
Estimated ticket
$1.5M–$3.1M
18 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 · FY2024
| Net patient revenue | $24.3M |
| Operating margin | -65.7% |
| Total margin | 35.5% |
| Days cash on hand | 835 |
| Current ratio | 15.38 |
| Occupancy | 21% |
Facility
| Beds | 18 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 18 | $18.6M | $16.2M | -70.5% | 31.7% | 466 | 8.49 | 27% | 129 | 37 |
| 2022 | 18 | $24.0M | $14.6M | -48.6% | 29.0% | 605 | 22.18 | 24% | 253 | 37 |
| 2023 | 18 | $21.7M | $15.8M | -67.0% | 30.4% | 751 | 35.24 | 19% | 132 | 37 |
| 2024 | 18 | $24.3M | $22.2M | -65.7% | 35.5% | 835 | 15.38 | 21% | 161 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Albert Garza | corporate director | 2002-05 | ||
| Elizabeth Cervantes | w-2 managing employee | 2025-01 | ||
| Elizabeth Cervantes | operational/managerial control | 2025-01 | ||
| James Pardue | corporate director | 2017-01 | ||
| Martin County Hospital District | operational/managerial control | 1966-01 | ||
| Nancy Cooke | 5% or greater indirect ownership interest | 2020-04 | ||
| Nancy Cooke | corporate officer | 2020-04 | ||
| Nancy Cooke | corporate director | 2020-04 | ||
| Nancy Cooke | operational/managerial control | 2020-04 | ||
| Robert Gaitan | w-2 managing employee | 2025-01 | ||
| Robert Gaitan | operational/managerial control | 2025-01 | ||
| Tonya Glisan | corporate officer | 2020-08 | ||
| Tonya Glisan | corporate director | 2020-08 | ||
| Tonya Glisan | operational/managerial control | 2020-08 |
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 |