Rusk State Hospital
Rusk, Cherokee County, TX
· CCN 454009
Licensed to Health And Human Services Commission
Composite
74.1
rank score
Distress
82
FY2024
Fit
93
vs thesis
Estimated ticket
$55.8M–$223M
290 beds ·
within envelope
Ownership
government
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 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
- large — ticket likely stretches the envelope
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $74.4M |
| Operating margin | -23.9% |
| Total margin | -123.9% |
| Days cash on hand | 0 |
| Current ratio | -83.96 |
| Occupancy | 82% |
Facility
| Beds | 290 |
| 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 | 259 | $57.3M | $-62.7M | -9.4% | -109.4% | 0 | -83.43 | 88% | 154 | 74 |
| 2022 | 259 | $45.7M | $-60.9M | -33.2% | — | 0 | -104.37 | 71% | 118 | 76 |
| 2023 | 361 | $43.7M | $-73.5M | -68.0% | — | 0 | -76.03 | 47% | 90 | 79 |
| 2024 | 290 | $74.4M | $-92.2M | -23.9% | -123.9% | 0 | -83.96 | 82% | 192 | 82 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Health And Human Services Commission | operational/managerial control | 2017-09 | ||
| Kristy Carr | operational/managerial control | 2023-01 | ||
| Michelle Foster | w-2 managing employee | 2019-03 |
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 |