Foundation Surgical Of San Antonio
dba Foundation Surgical Hospital Of San Antonio ·
San Antonio, Bexar County, TX
· CCN 670054
Licensed to Foundation Bariatric Hospital Of San Antonio Llc
Composite
54.2
rank score
Distress
61
FY2023
Fit
67
vs thesis
Estimated ticket
$8.5M–$34.0M
20 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin under 2%
- total margin negative
- under 30 days cash on hand
- current ratio under 1.5
- debt above 85% of assets
- occupancy below 30%
- margin deteriorating sharply
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- very small facility
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $35.2M |
| Operating margin | 0.4% |
| Total margin | -2.8% |
| Days cash on hand | 13 |
| Current ratio | 1.04 |
| Occupancy | 22% |
Facility
| Beds | 20 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 20 | $35.1M | $2.1M | 5.6% | 5.9% | 32 | 1.40 | 27% | 1,110 | 40 |
| 2021 | 20 | $34.9M | $3.2M | 6.8% | 9.0% | 15 | 1.35 | 31% | 1,180 | 39 |
| 2022 | 20 | $38.1M | $1.0M | 2.0% | 2.7% | 24 | 1.39 | 29% | 1,147 | 42 |
| 2023 | 20 | $35.2M | $-989K | 0.4% | -2.8% | 13 | 1.04 | 22% | 899 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Usp San Antonio Inc | 5% or greater direct ownership interest | 61 | 2023-06 | |
| Hcn Surgery Center Holdings Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Houston Northwest Partners Ltd | 5% or greater indirect ownership interest | 2023-08 | ||
| Megan Yarborough | w-2 managing employee | 2024-04 | ||
| Peter Blach | corporate officer | 2022-03 | ||
| Peter Blach | corporate director | 2022-03 | ||
| Peter Blach | w-2 managing employee | 2022-03 | ||
| Tenet Healthcare Corporation | 5% or greater indirect ownership interest | 2023-08 | ||
| United Surgical Partners Holdings Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| United Surgical Partners International Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Usp Domestic Holdings Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Usp San Antonio Inc | operational/managerial control | 2019-10 | ||
| Uspi Group Holdings Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Uspi Holding Company Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Uspi Holdings Inc | 5% or greater indirect ownership interest | 2023-08 | ||
| Vhs San Antonio Partners Llc | 5% or greater indirect ownership interest | 2023-08 |
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 |
|---|---|---|---|---|
| 2025-02-01 | Texas Heart Hospital Of The Southwest Llc | Baylor Heart & Vascular Center Llp | Baylor Heart And Vascular Hospital | 56 |
| 2024-10-30 | Hsa Port Arthur, Llc | The Medical Center Of Southeast Texas Lp | The Medical Ctr Of Southeast Texas | 196 |
| 2024-10-30 | Hsa St. Joseph, Llc | Sj Medical Center Llc | St Joseph Medical Center | 156 |
| 2024-10-17 | Big Spring Texas Hospital Company Llc | Steward Texas Hospital Holdings Llc | Scenic Mountain Medical Center | 75 |
| 2024-10-17 | Odessa Texas Hospital Company Llc | Odessa Regional Hospital Lp | Odessa Regional Hospital | 208 |
| 2024-06-01 | Columbia Medical Center Of Denton... | Decatur Health Services Llc | Medical City Denton | 184 |
| 2024-03-11 | Nacogdoches County Hospital District | Lion Star Nacogdoches Hospital, Llc | Nacogdoches Memorial Hosp | 160 |
| 2024-01-01 | Ahs Sherman Llc | Sherman Grayson Hospital Llc | Wilson N Jones Regional Medical Ctr | 214 |
| 2023-04-01 | Methodist Healthcare System Of San... | Hill Country Memorial Hospital | Hill Country Memorial Hospital | 57 |
| 2021-06-01 | Methodist Hospitals Of Dallas | Metsl, Llc | Methodist Southlake Medical Center | 22 |
| 2020-10-27 | Hendrick Medical Center | Armc Lp | Hendrick Medical Center | 533 |
| 2020-10-27 | Hendrick Medical Center Brownwood | Brownwood Hospital Lp | Hendrick Medical Center Brownwood | 63 |
| 2020-07-01 | St Joseph Regional Health Center | St Joseph Regional Health Center | St. Joseph Regional Health Center | 284 |
| 2020-04-01 | Christus Santa Rosa Health Care Corporation | Adventist Health System/sunbelt, Inc. | Christus Santa Rosa - San Marcos | 105 |
| 2020-03-01 | Sana Healthcare Carrollton | Baylor Medical Center At Carrollton | Carrollton Regional Medical Center | 89 |