SunLink Health Systems, Inc. announced that its subsidiary, Southern Health Corporation of Houston, Inc., and an affiliate, have completed the sale of the hospital building and related real estate of its formerly operated Trace Regional Hospital in Houston, Mississippi for approximately $2,000,000. The company said the net proceeds of approximately $1,932,000 will be retained for working capital and general corporate purposes. The company expects to recognize a pre-tax loss on the sale of approximately $91,000 in its second fiscal quarter ending December 31, 2024.
SunLink noted that the sale is intended to further its strategy of positioning itself for the possibility of an extraordinary transaction. The company is seeking to identify a strategic transaction which it believes would offer its shareholders a reasonable opportunity for future appreciation in the value of their shares at what the Board and management believe is an acceptable level of risk.
SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare businesses in the Southeast. Each of the company’s healthcare businesses is operated locally with a strategy of linking patients’ needs with healthcare professionals.
Healthy Buildings, Healthy Futures: IWBI and Georgetown Convene Policy Leaders in D.C.
California Bill Could Shift Workers' Comp Burden for Hospitals
Sturdy Health Announces Emergency Department Expansion and Modernization
Sabine County Hospital Falls Victim to Data Breach
Rethinking Sinks with Infection Control in Mind