Warm Springs Specialty Hosp Of Sa
dba Pam Specialty Hospital Of San Antonio ·
San Antonio, Bexar County, TX
· CCN 452090
Licensed to Warm Springs Specialty Hospital Of San Antonio Llc
Composite
66.8
rank score
Distress
74
FY2024
Fit
79
vs thesis
Estimated ticket
$5.5M–$21.8M
26 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
- debt above 70% of assets
- 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
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $13.9M |
| Operating margin | -11.4% |
| Total margin | -8.5% |
| Days cash on hand | 1 |
| Current ratio | 2.52 |
| Occupancy | 89% |
Facility
| Beds | 26 |
| 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 | 26 | $16.0M | $3.1M | 4.1% | 16.9% | 2 | 2.19 | 95% | 360 | 22 |
| 2022 | 26 | $15.7M | $446K | -0.2% | 2.8% | 5 | 2.55 | 95% | 358 | 38 |
| 2023 | 26 | $15.2M | $189K | -0.5% | 1.2% | 3 | 0.88 | 90% | 373 | 58 |
| 2024 | 26 | $13.9M | $-1.2M | -11.4% | -8.5% | 1 | 2.52 | 89% | 335 | 74 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Pam Cubed Llc | 5% or greater direct ownership interest | 100 | 2012-08 | |
| Anthony Misitano | 5% or greater indirect ownership interest | 50 | 2012-08 | |
| Ba Healthcare Holdings, Llc | 5% or greater indirect ownership interest | 50 | 2012-08 | |
| Anthony Misitano | corporate director | 2012-08 | ||
| Brittany Misitano | 5% or greater indirect ownership interest | 2024-07 | ||
| John Bauer | corporate officer | 2012-08 | ||
| Karick Stober | corporate officer | 2016-04 | ||
| Pam Cubed Llc | 5% or greater indirect ownership interest | 2024-07 | chain | |
| Sheila Bollier | w-2 managing employee | 2026-03 | ||
| Wells Fargo Bank, N.a. | 5% or greater security interest | 2024-07 |
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 |