Warm Springs Rehab Victoria
dba Pam Rehabilitation Hospital Of Victoria ·
Victoria, Victoria County, TX
· CCN 673056
Licensed to Warm Springs Rehabilitation Hospital Of Victoria Llc
Composite
51.4
rank score
Distress
30
FY2023
Fit
90
vs thesis
Estimated ticket
$8.4M–$33.8M
26 beds ·
within envelope
Ownership
for-profit
RH
Why it ranks here
- under 30 days cash on hand
- debt above 85% of assets
- margin slipping
- part of a multi-hospital chain — divestiture candidate
- 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 | $16.4M |
| Operating margin | 18.2% |
| Total margin | 18.7% |
| Days cash on hand | 3 |
| Current ratio | 2.01 |
| Occupancy | 89% |
Facility
| Beds | 26 |
| Facility type | RH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $325K |
| Per-bed (high) | $1.3M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 26 | $13.9M | $2.9M | 17.8% | 20.1% | 1 | 0.57 | 90% | 763 | 47 |
| 2021 | 26 | $15.1M | $2.8M | 17.1% | 18.3% | 1 | 1.23 | 91% | 785 | 37 |
| 2022 | 26 | $15.7M | $2.5M | 14.8% | 15.6% | 6 | 1.82 | 93% | 811 | 30 |
| 2023 | 26 | $16.4M | $3.1M | 18.2% | 18.7% | 3 | 2.01 | 89% | 801 | 30 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Pam Cubed Llc | 5% or greater direct ownership interest | 100 | 2012-03 | |
| Wells Fargo Bank, N.a. | 5% or greater security interest | 100 | 2024-07 | |
| Anthony Misitano | 5% or greater indirect ownership interest | 50 | 2012-03 | |
| Ba Healthcare Holdings, Llc | 5% or greater indirect ownership interest | 50 | 2012-03 | |
| Pam Cubed Llc | 5% or greater indirect ownership interest | 50 | 2024-07 | chain |
| Anthony Misitano | corporate officer | 2012-09 | ||
| Brittany Misitano | 5% or greater indirect ownership interest | 2024-07 | ||
| John Bauer | corporate officer | 2012-09 | ||
| Karick Stober | corporate officer | 2012-09 | ||
| Thomas Beyer | w-2 managing employee | 2020-09 |
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 |
|---|---|---|---|---|
| 2023-03-01 | Crh Of Temple Llc | Everest Rehabilitation Hospital Temple Llc | Temple Rehabilitation Hospital | 36 |
| 2023-03-01 | Crh Of Longview Llc | Everest Rehabilitation Hospital... | Longview Rehabilitation Hospital | 36 |
| 2021-12-30 | Pam Health Rehabilitation Hospital... | Apollo Rehab Hospital Llc | Pam Health Rehab Hosp Of Sugar Land | 41 |
| 2019-08-01 | Clear Lake Institute For Rehabilitation Llc | Clear Lake Rehabilitation Hospital, Llc | Bay Area Rehab Hospital | 151 |
| 2019-08-01 | Clear Lake Institute For Rehabilitation Llc | Triumph Rehabilitation Hospital Of... | Bay Area Rehab Hospital | 151 |
| 2016-06-01 | Pam Squared At Beaumont Llc | Healthsouth Rehabilitation... | Pam Squared At Beaumont | 61 |