Hansford County Hospital District
dba Hansford County Hospital ·
Spearman, Hansford County, TX
· CCN 451344
Licensed to Hansford County Hospital District
Composite
38.2
rank score
Distress
44
FY2023
Fit
46
vs thesis
Estimated ticket
$1.2M–$2.4M
14 beds ·
within envelope
Ownership
government
CAH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 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 | $17.8M |
| Operating margin | -45.8% |
| Total margin | -3.2% |
| Days cash on hand | 166 |
| Current ratio | 5.85 |
| Occupancy | 15% |
Facility
| Beds | 14 |
| 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 | 14 | $14.1M | $-1.1M | -49.7% | -5.3% | 250 | 1.83 | 14% | 59 | 49 |
| 2021 | 14 | $16.8M | $741K | -44.0% | 2.9% | 216 | 2.16 | 33% | 227 | 33 |
| 2022 | 14 | $16.0M | $-3.2M | -57.0% | -14.5% | 123 | 3.73 | 22% | 98 | 58 |
| 2023 | 14 | $17.8M | $-805K | -45.8% | -3.2% | 166 | 5.85 | 15% | 80 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hansford County Hospital District | other | 100 | 2010-09 | |
| Blake Fitzgearld | corporate officer | 2016-04 | ||
| Blake Fitzgearld | w-2 managing employee | 2016-04 | ||
| Crystal Walls | w-2 managing employee | 2014-03 | ||
| Crystal Walls | other | 2010-09 | ||
| Janice Garrard | w-2 managing employee | 2014-03 | ||
| Janice Garrard | other | 2010-09 | ||
| Jonathan Bailey | corporate officer | 2010-02 | ||
| Jonathan Bailey | w-2 managing employee | 2010-02 |
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 |