Kindred Hospital Houston
dba Kindred Hospital Houston Medical Center ·
Houston, Harris County, TX
· CCN 452023
Licensed to Kindred Hospitals Limited Partnership
Composite
68.2
rank score
Distress
75
FY2024
Fit
86
vs thesis
Estimated ticket
$20.4M–$81.5M
97 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating sharply
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $42.6M |
| Operating margin | -23.1% |
| Total margin | -12.2% |
| Days cash on hand | 0 |
| Current ratio | 1.37 |
| Occupancy | 50% |
Facility
| Beds | 97 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 97 | $65.5M | $1.2M | 1.6% | 1.9% | 0 | 0.61 | 76% | 811 | 50 |
| 2022 | 97 | $65.9M | $4.7M | 6.8% | 7.1% | 0 | 0.88 | 71% | 595 | 36 |
| 2023 | 97 | $54.1M | $2.4M | -0.9% | 4.2% | 0 | 0.70 | 53% | 535 | 53 |
| 2024 | 97 | $42.6M | $-5.7M | -23.1% | -12.2% | 0 | 1.37 | 50% | 541 | 75 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Kentucky Hospital Holdings Jv Lp | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kentucky Hospital Intermediate Llc | 5% or greater indirect ownership interest | 100 | 2018-07 | |
| Kindred Healthcare Llc | 5% or greater indirect ownership interest | 100 | 1998-03 | |
| Kindred Healthcare Operating Llc | 5% or greater direct ownership interest | 100 | 1998-02 | |
| Kindred Hospitals West Llc | 5% or greater direct ownership interest | 100 | 2025-03 | |
| Knight Health Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Knight Health Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Dana Rock | corporate officer | 2024-12 | ||
| Deanna Schiavone | corporate officer | 2025-03 | ||
| Jacquelyn Davis | w-2 managing employee | 2023-12 | ||
| Johnetta Traylor | corporate officer | 2024-12 | ||
| Linn Billingsley | corporate officer | 2025-03 | ||
| Michael Bean | corporate officer | 2004-12 | ||
| Scott Graeser | corporate officer | 2025-03 |
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 |
|---|---|---|---|---|
| 2026-01-01 | Houston-Amg Specialty Hospital, Inc. | Plaza Specialty Hospital, Llc | Houston Healthcare Specialty Hosp. | 44 |
| 2026-01-01 | Clear Lake-Amg Specialty Hospital, Inc. | Chg Hospital Houston Llc | Vibra Hospital Of Clear Lake | 88 |
| 2024-08-01 | Hhn Tx1 Llc | Kpc Promise Hospital Of Wichita Falls Llc | Kpc Promise Hospital Of Wichita Fall | 31 |
| 2024-05-19 | Amarillo Specialty Hospital | Kpc Promise Hospital Of Amarillo Llc | Kpc Promise Hospital Of Amarillo Llc | 54 |
| 2019-09-30 | Pam Specialty Hospital Of San Antonio Llc | New San Antonio Specialty Hospital, Llc | Pam Spc Hosp Of San Antonio Med Ctr | 62 |
| 2019-09-30 | Lifecare 2.1, Llc | New Lifecare Hospitals Of North Texas, Llc | Lifecare Spec Hosp Of North Texas | 206 |
| 2016-06-28 | Knd Development 68 Llc | Select Specialty Hospital - San Antonio Inc | Kindred Hospital San Antonio Central | 44 |