Hickory Trail Hospital
Desoto, Dallas County, TX
· CCN 454065
Licensed to Hickory Trail Hospital, L.p.
Composite
71.3
rank score
Distress
69
FY2024
Fit
96
vs thesis
Estimated ticket
$20.1M–$80.4M
86 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating
- 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 somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $19.2M |
| Operating margin | -5.5% |
| Total margin | -5.2% |
| Days cash on hand | 0 |
| Current ratio | 0.01 |
| Occupancy | 76% |
Facility
| Beds | 86 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 86 | $16.5M | $-319K | -2.4% | -1.9% | 0 | 0.00 | 73% | 2,726 | 59 |
| 2022 | 86 | $16.4M | $-2.0M | -12.3% | -12.0% | 0 | -0.03 | 69% | 2,570 | 80 |
| 2023 | 86 | $18.6M | $-672K | -3.8% | -3.6% | 0 | 0.13 | 76% | 2,851 | 63 |
| 2024 | 86 | $19.2M | $-999K | -5.5% | -5.2% | 0 | 0.01 | 76% | 2,661 | 69 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cheryl Ramagano | corporate officer | 100 | 2010-11 | |
| George Brunner | corporate officer | 100 | 2010-11 | |
| Katharine Lyver | corporate officer | 100 | 2024-01 | |
| Matthew Klein | corporate officer | 100 | 2010-11 | |
| Matthew Peterson | corporate officer | 100 | 2019-09 | |
| Matthew Peterson | operational/managerial control | 100 | 2019-09 | |
| Psychiatric Solutions Hospitals Llc | 5% or greater indirect ownership interest | 100 | 2006-07 | |
| Psychiatric Solutions, Inc. | 5% or greater indirect ownership interest | 100 | 2006-11 | |
| Steve Filton | corporate officer | 100 | 2010-11 | |
| Steve Filton | operational/managerial control | 100 | 2010-11 | |
| Thomas Day | corporate officer | 100 | 2021-07 | |
| Uhs Of Delaware Inc | operational/managerial control | 100 | 2010-11 | chain |
| Universal Health Services Inc | 5% or greater indirect ownership interest | 100 | 2010-11 | |
| Texas Hospital Holdings Inc | 5% or greater direct ownership interest | 99 | 2006-07 | |
| Texas Hospital Holdings Inc | limited partnership interest | 99 | 2006-07 | |
| Alan Miller | 5% or greater indirect ownership interest | 87 | 2024-03 | |
| James Coleman | contracted managing employee | 50 | 2010-11 | |
| Matthew Peterson | corporate director | 33 | 2019-09 | |
| Steve Filton | corporate director | 33 | 2010-11 | |
| Thomas Day | corporate director | 33 | 2021-07 | |
| Texas Hospital Holdings Llc | 5% or greater direct ownership interest | 1 | 2006-07 | |
| Texas Hospital Holdings Llc | general partnership interest | 1 | 2006-07 | |
| Jeffrey Baker | contracted managing employee | 2021-10 | ||
| Jeffrey Baker | corporate officer | 2021-10 | ||
| Tyrel Culver | contracted managing employee | 2020-02 |
Showing 25 of 26. Full list via /api/targets/454065.
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 |