Otto Kaiser Memorial Hospital
Kenedy, Karnes County, TX
· CCN 451364
Licensed to Karnes County Hospital District
Composite
36.1
rank score
Distress
33
FY2024
Fit
53
vs thesis
Estimated ticket
$2.1M–$4.2M
25 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
- 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 · FY2024
| Net patient revenue | $23.9M |
| Operating margin | -37.1% |
| Total margin | 2.4% |
| Days cash on hand | 759 |
| Current ratio | 12.72 |
| Occupancy | 14% |
Facility
| Beds | 25 |
| 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 | 25 | $20.5M | $344K | -37.4% | 1.2% | 718 | 14.14 | 19% | 165 | 40 |
| 2022 | 25 | $25.8M | $5.7M | -10.7% | 16.5% | 795 | 14.61 | 21% | 196 | 37 |
| 2023 | 25 | $23.4M | $-2.9M | -45.7% | -9.4% | 663 | 14.68 | 14% | 65 | 53 |
| 2024 | 25 | $23.9M | $800K | -37.1% | 2.4% | 759 | 12.72 | 14% | 59 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| David Lee | corporate director | 100 | 2012-10 | |
| Karnes County Hospital District | operational/managerial control | 100 | 2012-10 | |
| David Lee | w-2 managing employee | 2015-03 |
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 |