Encompass Health Rehabilitation Hosp
dba Encompass Health Rehabilitation Hospital Of Midland Odessa ·
Midland, Midland County, TX
· CCN 453057
Licensed to Encompass Health Rehabilitation Hospital Of Midland Odessa, Llc
Composite
53.0
rank score
Distress
29
FY2024
Fit
100
vs thesis
Estimated ticket
$34.5M–$138M
106 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating
- 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 | $46.0M |
| Operating margin | 6.4% |
| Total margin | 6.7% |
| Days cash on hand | 29 |
| Current ratio | 1.50 |
| Occupancy | 75% |
Facility
| Beds | 106 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 80 | $32.6M | $4.2M | 12.8% | 12.9% | 55 | 1.60 | 69% | 1,565 | 21 |
| 2021 | 80 | $38.4M | $4.5M | 11.6% | 11.7% | 9 | 1.38 | 85% | 1,912 | 26 |
| 2022 | 80 | $26.2M | $3.1M | 11.7% | 11.9% | 58 | 2.00 | 89% | 1,327 | 17 |
| 2023 | 106 | $40.7M | $3.6M | 8.4% | 8.7% | 33 | 1.68 | 85% | 2,135 | 17 |
| 2024 | 106 | $46.0M | $3.1M | 6.4% | 6.7% | 29 | 1.50 | 75% | 2,355 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Encompass Health Corporation | 5% or greater indirect ownership interest | 65 | 2022-02 | |
| Encompass Health Joint Ventures Holdings, Llc | 5% or greater indirect ownership interest | 65 | 2021-07 | |
| Healthsouth Midland Odessa Holdings, Llc | 5% or greater direct ownership interest | 65 | 2016-06 | |
| Midland County Hospital District | 5% or greater indirect ownership interest | 18 | 2021-07 | |
| Midland Memorial, Inc | 5% or greater direct ownership interest | 18 | 2021-07 | |
| Echd Ventures | 5% or greater direct ownership interest | 17 | 2021-07 | |
| Ector County Hospital District | 5% or greater indirect ownership interest | 17 | 2021-07 | |
| Vanguard Group Inc | 5% or greater indirect ownership interest | 7 | 2024-12 | |
| Blackrock Inc | 5% or greater indirect ownership interest | 6 | 2024-12 | |
| Carey Mcrae | corporate officer | 2025-01 | ||
| Douglas Coltharp | corporate officer | 2010-05 | ||
| Encompass Health Corporation | operational/managerial control | 2013-10 | ||
| Mark Tarr | operational/managerial control | 2017-01 | ||
| Robert Mccallum | corporate officer | 2025-01 | ||
| Shannon Cortez | w-2 managing employee | 2025-01 |
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 |