Preferred Hospital Leasing Hemphill
dba Sabine County Hospital ·
Hemphill, Sabine County, TX
· CCN 451361
Licensed to Preferred Hospital Leasing Hemphill, Inc.
Composite
52.9
rank score
Distress
65
FY2023
Fit
59
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
for-profit
CAH
Why it ranks here
- operating margin below -10%
- total margin negative
- 30-60 days cash on hand
- 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
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $8.7M |
| Operating margin | -24.6% |
| Total margin | -2.4% |
| Days cash on hand | 42 |
| Current ratio | 2.97 |
| Occupancy | 6% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $7.9M | $1.4M | -20.9% | 12.8% | 24 | 4.14 | 12% | 148 | 63 |
| 2021 | 25 | $8.4M | $3.4M | -27.2% | 23.9% | 54 | 4.21 | 10% | 172 | 53 |
| 2022 | 25 | $8.3M | $1.2M | -24.4% | 10.0% | 42 | 3.61 | 7% | 102 | 53 |
| 2023 | 25 | $8.7M | $-256K | -24.6% | -2.4% | 42 | 2.97 | 6% | 81 | 65 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Donald Freeman | corporate officer | 100 | 2008-02 | |
| Preferred Management Corporation | operational/managerial control | 100 | 2008-02 | |
| Donald Freeman | 5% or greater direct ownership interest | 2008-02 | ||
| Jared Chanski | corporate officer | 2019-01 | ||
| Josh Tucker | corporate officer | 2017-12 | ||
| Kaylee Mcdaniel | w-2 managing employee | 2023-08 | ||
| Luke Campbell | corporate officer | 2025-02 |
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 |