Carrus Specialty Hospital
Sherman, Grayson County, TX
· CCN 452041
Licensed to Texoma Hospital Partners, Llc
Composite
58.0
rank score
Distress
55
FY2023
Fit
83
vs thesis
Estimated ticket
$8.4M–$33.7M
33 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- debt above 70% of assets
- margin deteriorating sharply
- 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 | $15.1M |
| Operating margin | -3.8% |
| Total margin | -1.7% |
| Days cash on hand | 1 |
| Current ratio | 56.59 |
| Occupancy | 72% |
Facility
| Beds | 33 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 33 | $16.7M | $3.6M | 7.9% | 18.9% | 4 | 1.01 | 80% | 422 | 26 |
| 2021 | 33 | $18.3M | $2.3M | 11.3% | 12.4% | 29 | 3.85 | 87% | 471 | 22 |
| 2022 | 33 | $15.8M | $-568K | -4.1% | -3.6% | 8 | -91.35 | 81% | 387 | 68 |
| 2023 | 33 | $15.1M | $-266K | -3.8% | -1.7% | 1 | 56.59 | 72% | 315 | 55 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Carrus Healthcare, Llc | 5% or greater indirect ownership interest | 100 | 2017-03 | |
| Sdb Partners Llc | 5% or greater direct ownership interest | 100 | 2007-06 | |
| Arcp Health, Lp | 5% or greater indirect ownership interest | 80 | 2018-01 | |
| Anbarasu Nachimuthu | 5% or greater indirect ownership interest | 75 | 2018-01 | |
| Jon Rains | 5% or greater indirect ownership interest | 20 | 2017-06 | |
| Anbarasu Nachimuthu | corporate officer | 2017-06 | ||
| Anbarasu Nachimuthu | w-2 managing employee | 2017-06 | ||
| Anbarasu Nachimuthu | operational/managerial control | 2017-06 | ||
| Carrus Healthcare, Llc | operational/managerial control | 2017-06 | ||
| Jon Rains | corporate officer | 2017-06 | ||
| Jon Rains | w-2 managing employee | 2017-06 | ||
| Jon Rains | operational/managerial control | 2017-06 | ||
| Nathan Watson | other | 2011-12 | ||
| Sdb Partners Llc | operational/managerial control | 2007-06 |
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 |