Baylor Emergency Medical Center
dba Baylor Scott & White Emergency Hospital ·
Aubrey, Denton County, TX
· CCN 670062
Licensed to Cr Emergency Room Llc
Composite
55.7
rank score
Distress
34
FY2023
Fit
80
vs thesis
Estimated ticket
$20.0M–$80.0M
40 beds ·
within envelope
Ownership
for-profit
PE 8y
Why it ranks here
- under 30 days cash on hand
- occupancy below 30%
- margin deteriorating
- PE-owned 8 years — well past a typical hold
- TX: favorable regulatory climate
- urban — higher occupancy and iteration surface
- small but workable bed count
- ticket size somewhat below the envelope
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $53.1M |
| Operating margin | 15.0% |
| Total margin | 18.9% |
| Days cash on hand | 0 |
| Current ratio | 13.07 |
| Occupancy | 6% |
Facility
| Beds | 40 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 40 | $45.3M | $10.8M | 18.2% | 22.6% | 0 | 11.88 | 10% | 670 | 31 |
| 2021 | 40 | $54.4M | $15.9M | 25.3% | 28.1% | 0 | 13.04 | 11% | 528 | 31 |
| 2022 | 40 | $49.6M | $10.0M | 17.2% | 19.6% | 0 | 16.88 | 6% | 314 | 31 |
| 2023 | 40 | $53.1M | $10.5M | 15.0% | 18.9% | 0 | 13.07 | 6% | 347 | 34 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ebd Jv, Llp | 5% or greater direct ownership interest | 100 | 2012-07 | |
| Emerus Management Company, Llc | operational/managerial control | 100 | 2012-07 | |
| Baylor Health Care System | 5% or greater indirect ownership interest | 51 | 2012-07 | |
| Baylor University Medical Center | 5% or greater indirect ownership interest | 51 | 2012-07 | |
| Emerus Group Holdings Lp | 5% or greater indirect ownership interest | 49 | 2015-09 | |
| Emerus Holdings, Inc. | 5% or greater indirect ownership interest | 49 | 2011-01 | |
| Emerus Intermediate Holdings Inc | 5% or greater indirect ownership interest | 49 | 2015-09 | |
| Emerus Investment Company Ii Llc | 5% or greater indirect ownership interest | 49 | 2012-04 | |
| Welsh Carson Anderson & Stowe Xii, Lp | 5% or greater indirect ownership interest | 13 | 2015-09 | PE |
| Toby Hamilton | 5% or greater indirect ownership interest | 6 | 2008-08 | |
| Jaba Interest Llc | 5% or greater indirect ownership interest | 5 | 2014-10 | |
| Emerus Management Company, Llc | 5% or greater security interest | 2011-01 | ||
| John Middlebrook | general partnership interest | 2009-08 | ||
| John Middlebrook | corporate director | 2009-08 | ||
| Thanh Tran | corporate officer | 2022-11 | ||
| Thanh Tran | w-2 managing employee | 2022-11 | ||
| Toby Hamilton | general partnership interest | 2008-08 | ||
| Toby Hamilton | corporate officer | 2008-08 | ||
| Vanessa Smith | corporate officer | 2022-11 | ||
| Vanessa Smith | w-2 managing employee | 2022-11 |
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 |