Rio Grande State Center
Harlingen, Cameron County, TX
· CCN 454088
Licensed to Health And Human Services Commission
Composite
67.8
rank score
Distress
76
FY2024
Fit
84
vs thesis
Estimated ticket
$10.6M–$42.4M
55 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
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $16.9M |
| Operating margin | -192.5% |
| Total margin | — |
| Days cash on hand | 0 |
| Current ratio | -101.03 |
| Occupancy | 99% |
Facility
| Beds | 55 |
| 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 | 55 | $24.5M | $-38.5M | -57.1% | — | 0 | -79.73 | 86% | 445 | 76 |
| 2022 | 78 | $26.0M | $-40.3M | -54.8% | 403,206.3% | 0 | -99.87 | 65% | 445 | 63 |
| 2023 | 77 | $18.4M | $-43.6M | -136.1% | — | 0 | -85.97 | 69% | 393 | 76 |
| 2024 | 55 | $16.9M | $-49.5M | -192.5% | — | 0 | -101.03 | 99% | 371 | 76 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Health And Human Services Commission | operational/managerial control | 2017-09 | ||
| Kristy Carr | corporate director | 2023-01 | ||
| Sonia Hernandez-Keeble | w-2 managing employee | 2017-09 |
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 |