Sa Warm Springs Rehab Hosp
dba Warm Springs Rehabilitation Hospital Of San Antonio ·
San Antonio, Bexar County, TX
· CCN 453035
Licensed to Post Acute Medical At San Antonio Llc
Composite
60.8
rank score
Distress
42
FY2024
Fit
100
vs thesis
Estimated ticket
$47.1M–$188M
145 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- part of a multi-hospital chain — divestiture candidate
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $81.9M |
| Operating margin | 18.1% |
| Total margin | 18.3% |
| Days cash on hand | 0 |
| Current ratio | 0.79 |
| Occupancy | 79% |
Facility
| Beds | 145 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $325K |
| Per-bed (high) | $1.3M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 139 | $68.5M | $11.2M | 13.8% | 15.9% | 0 | 0.42 | 78% | 3,405 | 47 |
| 2022 | 134 | $71.8M | $9.8M | 12.7% | 13.5% | 0 | 0.48 | 81% | 3,368 | 47 |
| 2023 | 134 | $78.4M | $10.9M | 13.7% | 13.9% | 0 | 0.81 | 86% | 3,678 | 42 |
| 2024 | 145 | $81.9M | $15.0M | 18.1% | 18.3% | 0 | 0.79 | 79% | 3,671 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Post Acute Medical, Llc | 5% or greater direct ownership interest | 69 | 2006-12 | |
| Anthony Misitano | 5% or greater indirect ownership interest | 34 | 2022-01 | |
| Ba Healthcare Holdings, Llc | 5% or greater indirect ownership interest | 34 | 2022-01 | |
| University Health System Services Of Texas, Inc. | 5% or greater direct ownership interest | 31 | 2022-01 | |
| Brittany Misitano | 5% or greater indirect ownership interest | 25 | 2024-07 | |
| Anthony Misitano | corporate officer | 2016-04 | ||
| Brittany Misitano | corporate officer | 2021-12 | ||
| Joshua Davis | w-2 managing employee | 2025-09 | ||
| Karick Stober | corporate officer | 2016-04 | ||
| Pam Cubed Llc | 5% or greater indirect ownership interest | 2024-07 | chain | |
| 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 |
|---|---|---|---|---|
| 2023-03-01 | Crh Of Temple Llc | Everest Rehabilitation Hospital Temple Llc | Temple Rehabilitation Hospital | 36 |
| 2023-03-01 | Crh Of Longview Llc | Everest Rehabilitation Hospital... | Longview Rehabilitation Hospital | 36 |
| 2021-12-30 | Pam Health Rehabilitation Hospital... | Apollo Rehab Hospital Llc | Pam Health Rehab Hosp Of Sugar Land | 41 |
| 2019-08-01 | Clear Lake Institute For Rehabilitation Llc | Clear Lake Rehabilitation Hospital, Llc | Bay Area Rehab Hospital | 151 |
| 2019-08-01 | Clear Lake Institute For Rehabilitation Llc | Triumph Rehabilitation Hospital Of... | Bay Area Rehab Hospital | 151 |
| 2016-06-01 | Pam Squared At Beaumont Llc | Healthsouth Rehabilitation... | Pam Squared At Beaumont | 61 |