W.j. Mangold Memorial Hospital
Lockney, Floyd County, TX
· CCN 451337
Licensed to Lockney General Hospital District
Composite
57.7
rank score
Distress
81
FY2023
Fit
53
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- debt above 70% of assets
- occupancy below 30%
- margin deteriorating sharply
- TX: favorable regulatory climate
- rural — cheaper but limited density
- small but workable bed count
- 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 | $9.7M |
| Operating margin | -29.8% |
| Total margin | -3.3% |
| Days cash on hand | 28 |
| Current ratio | 1.44 |
| Occupancy | 9% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $6.6M | $1.8M | -46.1% | 15.2% | 107 | 3.36 | 10% | 157 | 41 |
| 2021 | 25 | $8.0M | $-1.8M | -43.2% | -16.3% | 68 | 1.79 | 11% | 203 | 74 |
| 2022 | 25 | $8.4M | $744K | -37.0% | 5.9% | 26 | 2.21 | 8% | 181 | 59 |
| 2023 | 25 | $9.7M | $-415K | -29.8% | -3.3% | 28 | 1.44 | 9% | 131 | 81 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Vincent Difranco | w-2 managing employee | 100 | 2020-02 | |
| Almadena Rendon | w-2 managing employee | 2023-02 | ||
| Lockney General Hospital District | operational/managerial control | 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 |