SUNLINK HEALTH SYSTEMS, INC. (NYSEMKT:SSY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On December 16, 2016, a subsidiary of SunLink Health Systems, Inc. (“SunLink” or the “Company”) sold a medical office building complex, comprised of land and three buildings in Ellijay, GA for $4,900,000. The Company expects to recognize a pre-tax gain on the sale of the property of approximately $2,700,000 and a pre-tax loss on the early extinguishment of the property’s related debt of approximately $300,000 in its second fiscal quarter ending December 31, 2016. The Company expects net proceeds from the sale of approximately $2,600,000. The proceeds will be retained for working capital and general corporate purposes.
Item 9.01 Financial Statements and Exhibits.
d. Exhibits. The following exhibits are filed with this report:
Exhibit 99.1 – SunLink Health Systems, Inc. Press Release dated December 19, 2016.
Exhibit 99.2 – Purchase Agreement dated November 1, 2016 between Global Medical REIT, Inc. and SunLink Healthcare Professional Property, LLC.
About SUNLINK HEALTH SYSTEMS, INC. (NYSEMKT:SSY)
SunLink Health Systems, Inc., through its subsidiaries, owns businesses, which provide healthcare services in various markets in the United States. The Company’s segments include Healthcare Facilities, Specialty Pharmacy, and Corporate and Other. Its Specialty Pharmacy segment is operated through its subsidiary, SunLink ScriptsRx, LLC (Scripts). As of June 30, 2016, its Healthcare Facilities segment subsidiaries owned and operated Trace Regional Hospital, which is a 84 bed community hospital and Floy Dyer Manor Nursing Home, which is a 66 bed nursing home in Mississippi, and Gilmer Nursing Home, which is a 100 bed nursing home in Georgia. As of June 30, 2016, the Specialty Pharmacy Segment subsidiary operated a specialty pharmacy business in Louisiana with four service lines. Its Specialty Pharmacy segment operates service lines, including retail pharmacy products and services; institutional pharmacy services; specialty pharmacy services, and durable medical equipment services. SUNLINK HEALTH SYSTEMS, INC. (NYSEMKT:SSY) Recent Trading Information
SUNLINK HEALTH SYSTEMS, INC. (NYSEMKT:SSY) closed its last trading session up +0.04 at 1.18 with 4,271 shares trading hands.