Oceans Behavioral Hospital Waco
dba Oceans Behavioral Hospital Of Waco ·
Waco, Mc Lennan County, TX
· CCN 454150
Licensed to Oceans Behavioral Hospital Of Waco Llc
Composite
54.4
rank score
Distress
39
FY2023
Fit
90
vs thesis
Estimated ticket
$13.2M–$52.8M
48 beds ·
within envelope
Ownership
for-profit
PE 1y
Why it ranks here
- operating margin under 2%
- total margin under 2%
- current ratio below 0.8
- liabilities exceed assets
- recently acquired by private equity
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $11.8M |
| Operating margin | 0.2% |
| Total margin | 0.3% |
| Days cash on hand | — |
| Current ratio | 0.19 |
| Occupancy | 77% |
Facility
| Beds | 48 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 48 | $3.6M | $-2.0M | -84.0% | -43.2% | — | -1.93 | 40% | 301 | 81 |
| 2021 | 48 | $9.4M | $-171K | -3.1% | -1.8% | — | -1.47 | 65% | 861 | 47 |
| 2022 | 48 | $12.5M | $1.3M | 8.2% | 10.3% | — | -0.13 | 80% | 974 | 31 |
| 2023 | 48 | $11.8M | $37.0K | 0.2% | 0.3% | — | 0.19 | 77% | 1,018 | 39 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Oceans Acquisition Inc | 5% or greater direct ownership interest | 100 | 2018-09 | |
| Oceans Buyer, Inc. | 5% or greater indirect ownership interest | 100 | 2022-02 | |
| Oceans Midco, Inc. | 5% or greater indirect ownership interest | 100 | 2022-02 | |
| Oceans Topco, Inc. | 5% or greater indirect ownership interest | 100 | 2022-02 | |
| Oceans Ultimate Holdco, Lp | 5% or greater indirect ownership interest | 100 | 2022-02 | |
| Webster Equity Partners V, Lp | 5% or greater indirect ownership interest | 50 | 2022-02 | PE |
| Webster Oceans Co-Investment Fund, Lp | 5% or greater indirect ownership interest | 33 | 2022-02 | |
| Wasque Partners Ii Spe, Lp | 5% or greater indirect ownership interest | 9 | 2022-02 | |
| Oceans Ultimate Holdco Gp, Llc | 5% or greater indirect ownership interest | 1 | 2022-02 | |
| Laura Tarantino | corporate officer | 2018-09 | ||
| Laura Tarantino | corporate director | 2018-09 | ||
| Laura Tarantino | w-2 managing employee | 2018-09 | ||
| Laura Tarantino | operational/managerial control | 2018-09 | ||
| Oceans Acquisition Inc | operational/managerial control | 2018-09 | ||
| Stuart Archer | corporate officer | 2018-09 | ||
| Stuart Archer | corporate director | 2018-09 | ||
| Stuart Archer | operational/managerial control | 2018-09 |
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 |