Ward Memorial Hospital
dba Ward Memorial Hospital Er Group ·
Monahans, Ward County, TX
· CCN 451373
Licensed to County Of Ward
Composite
33.2
rank score
Distress
33
FY2023
Fit
46
vs thesis
Estimated ticket
$1.6M–$3.2M
19 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 · FY2023
| Net patient revenue | $16.1M |
| Operating margin | -30.8% |
| Total margin | 16.4% |
| Days cash on hand | 240 |
| Current ratio | 8.16 |
| Occupancy | 24% |
Facility
| Beds | 19 |
| 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 | 25 | $11.1M | $1.6M | -58.7% | 8.3% | 222 | 4.19 | 21% | 271 | 37 |
| 2021 | 25 | $14.5M | $-1.0M | -36.9% | -5.4% | 117 | 2.93 | 26% | 390 | 53 |
| 2022 | 19 | $15.3M | $4.5M | -30.9% | 18.5% | 178 | 8.77 | 26% | 262 | 37 |
| 2023 | 19 | $16.1M | $4.1M | -30.8% | 16.4% | 240 | 8.16 | 24% | 226 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| County Of Ward | 5% or greater direct ownership interest | 100 | 1966-07 | |
| Leticia Rodriguez | w-2 managing employee | 100 | 2014-01 | |
| Leticia Rodriguez | corporate officer | 2014-01 | ||
| Leticia Rodriguez | corporate director | 2014-01 |
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 |