Voyages Of Conroe Bh
Conroe, Montgomery County, TX
· CCN 454158
Licensed to Voyages Of Conroe Llc
Composite
70.7
rank score
Distress
80
FY2024
Fit
82
vs thesis
Estimated ticket
$12.3M–$49.3M
64 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- debt above 85% of assets
- occupancy 30-45%
- 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
- small ticket — deploys little of the available capital
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $7.3M |
| Operating margin | -52.1% |
| Total margin | -52.1% |
| Days cash on hand | 0 |
| Current ratio | 3.23 |
| Occupancy | 36% |
Facility
| Beds | 64 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 64 | $7.3M | $-3.8M | -52.1% | -52.1% | 0 | 3.23 | 36% | 618 | 80 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrew Hardin | 5% or greater indirect ownership interest | 2022-11 | ||
| Anthony Misitano | corporate officer | 2022-11 | ||
| Brittany Misitano | 5% or greater indirect ownership interest | 2022-11 | ||
| Brittany Misitano | corporate officer | 2022-11 | ||
| James Wilfer | w-2 managing employee | 2022-11 | ||
| Karick Stober | corporate officer | 2022-11 | ||
| Pam Cubed Llc | 5% or greater indirect ownership interest | 2022-11 | chain | |
| Pam Cubed Llc | other | 2024-04 | chain | |
| Voyages Behavioral Health Llc | 5% or greater direct ownership interest | 2022-11 | ||
| Wells Fargo Bank, N.a. | 5% or greater security interest | 2024-07 |
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 |