Ntsh - Witchita Falls & Vernon
dba North Texas State Hospital - Wichita Falls Campus ·
Wichita Falls, Wichita County, TX
· CCN 454008
Licensed to Health And Human Services Commission
Composite
67.1
rank score
Distress
79
FY2024
Fit
79
vs thesis
Estimated ticket
$93.0M–$372M
483 beds ·
within envelope
Ownership
government
PH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- very large — likely out of range
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $106M |
| Operating margin | -65.1% |
| Total margin | — |
| Days cash on hand | 0 |
| Current ratio | -81.18 |
| Occupancy | 93% |
Facility
| Beds | 483 |
| Facility type | PH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 277 | $102M | $-124M | -21.4% | -121.4% | 0 | -83.56 | 72% | 397 | 80 |
| 2022 | 575 | $81.7M | $-115M | -40.8% | -140.8% | 0 | -99.38 | 61% | 625 | 80 |
| 2023 | 603 | $55.3M | $-131M | -137.2% | -237.2% | 0 | -76.83 | 56% | 739 | 82 |
| 2024 | 483 | $106M | $-175M | -65.1% | — | 0 | -81.18 | 93% | 1,064 | 79 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Albert Ragland | corporate director | 2023-06 | ||
| Health And Human Services Commission | operational/managerial control | 2022-05 | ||
| Kristy Carr | corporate director | 2023-01 | ||
| Kristy Carr | operational/managerial control | 2023-01 |
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 |
|---|---|---|---|---|
| 2020-07-01 | Lpnt Bh Acquisition 2, Llc | Srp Behavioral Hospital Of Fort Worth Llc | Wellbridge Healthcare Fort Worth | 48 |