Texas Neuro Rehab Center
dba Texas Neurorehab Center ·
Austin, Travis County, TX
· CCN 452038
Licensed to Neuro Institute Of Austin Lp
Composite
54.0
rank score
Distress
42
FY2023
Fit
83
vs thesis
Estimated ticket
$14.1M–$56.4M
47 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $38.7M |
| Operating margin | 9.0% |
| Total margin | 9.3% |
| Days cash on hand | 0 |
| Current ratio | -0.02 |
| Occupancy | 80% |
Facility
| Beds | 47 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $300K |
| Per-bed (high) | $1.2M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 47 | $34.8M | $5.5M | 11.4% | 15.1% | 0 | 1.40 | 87% | 540 | 26 |
| 2021 | 47 | $36.8M | $3.2M | 7.9% | 8.7% | 0 | -0.80 | 87% | 482 | 36 |
| 2022 | 47 | $38.4M | $4.5M | 11.6% | 11.8% | 0 | -0.07 | 86% | 498 | 36 |
| 2023 | 47 | $38.7M | $3.6M | 9.0% | 9.3% | 0 | -0.02 | 80% | 479 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2010-11 | |
| Edgar Prettyman | contracted managing employee | 100 | 2016-01 | |
| Edgar Prettyman | corporate officer | 100 | 2016-01 | |
| George Brunner | corporate officer | 100 | 2010-11 | |
| Katharine Lyver | corporate officer | 100 | 2024-01 | |
| Matthew Klein | corporate officer | 100 | 2010-11 | |
| Matthew Peterson | corporate officer | 100 | 2019-09 | |
| Matthew Peterson | operational/managerial control | 100 | 2019-09 | |
| Omar Correa | corporate officer | 100 | 2010-11 | |
| Psychiatric Solutions Hospitals Llc | 5% or greater indirect ownership interest | 100 | 2001-10 | |
| Psychiatric Solutions, Inc. | 5% or greater indirect ownership interest | 100 | 2001-10 | |
| Steve Filton | corporate officer | 100 | 2010-11 | |
| Steve Filton | operational/managerial control | 100 | 2010-11 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2010-11 | chain |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2010-11 | |
| Texas Hospital Holdings Inc | 5% or greater direct ownership interest | 99 | 2001-10 | |
| Texas Hospital Holdings Inc | limited partnership interest | 99 | 2001-10 | |
| Alan Miller | 5% or greater indirect ownership interest | 87 | 2024-03 | |
| James Coleman | contracted managing employee | 50 | 2010-11 | |
| Matthew Peterson | corporate director | 33 | 2019-09 | |
| Steve Filton | corporate director | 33 | 2010-11 | |
| Thomas Day | corporate director | 33 | 2021-07 | |
| Texas Hospital Holdings Llc | 5% or greater direct ownership interest | 1 | 2001-10 | |
| Texas Hospital Holdings Llc | general partnership interest | 1 | 2001-10 |
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 |