by
Gus Iversen, Editor in Chief | October 17, 2024
SunLink Health Systems has finalized the sale of the real estate tied to its formerly operated Trace Regional Hospital in Houston, Mississippi.
The sale, completed by the company’s subsidiary, Southern Health Corporation of Houston Inc., and an affiliate, brought in approximately $2 million. After transaction costs, SunLink expects net proceeds of around $1.93 million, which will be used for working capital and general corporate purposes.
The move aligns with SunLink’s broader strategy of positioning itself for a potential "extraordinary transaction," which the company views as a strategic opportunity to increase shareholder value. According to the company, it continues to explore transactions that could provide future appreciation for its shareholders while maintaining an acceptable level of risk.
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The company expects to recognize a pretax loss on the sale of approximately $91,000 in its second fiscal quarter ending December 31, 2024.
Based in Atlanta, SunLink Health Systems owns and operates healthcare facilities in the Southeast, managing its businesses with a focus on connecting patient needs with healthcare professionals.
