Sunlink Health Systems (SSY) has released an update to notify the public and investors about an entry into a material definitive agreement.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Southern Health Corporation of Houston, Inc., a subsidiary of the Company, agreed to sell Trace Regional Hospital and three clinics to Progressive Health of Houston, LLC for $500,000, alongside a six-month net lease and a management agreement. The previous agreement from November 2023 was terminated, and an additional real estate purchase is expected by Progressive for $2,000,000 by July 31, 2024. The transactions are anticipated to result in a loss of approximately $1.8 to $2.2 million for SunLink, although the exact loss is yet to be determined due to the combined operation of Trace hospital and Trace Extended Care & Rehabilitation.
For further insights into SSY stock, check out TipRanks’ Stock Analysis page.
