SunLink

Sunlink Health Systems’ Subsidiary Reaches Revised Agreements for the Sale of Trace Regional Medical Center and Clinics

Retrieved on: 
Monday, January 29, 2024
General Health, Hospitals, Health, Nursing, Managed Care, SunLink, Rehabilitation, Sale, Progressive, Exchange, Security (finance)

SunLink Health Systems, Inc. (NYSE: American: SSY) today announced that its indirect subsidiary, Southern Health Corporation of Houston, Inc. (“Southern”), has reached a revised agreement for the sale of Trace Regional Hospital and three (3) patient clinics in Chickasaw County, MS, (“Trace”) to Progressive Health of Houston, LLC (“Progressive”).

Key Points: 
  • SunLink Health Systems, Inc. (NYSE: American: SSY) today announced that its indirect subsidiary, Southern Health Corporation of Houston, Inc. (“Southern”), has reached a revised agreement for the sale of Trace Regional Hospital and three (3) patient clinics in Chickasaw County, MS, (“Trace”) to Progressive Health of Houston, LLC (“Progressive”).
  • As a result of the transaction, Southern’s agreement with Progressive dated November 10, 2023, was terminated.
  • Southern also entered into a real estate purchase agreement with Progressive whereunder Progressive is to purchase certain real estate of Trace for $2,000,000 by July 31, 2024.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.

SunLink Health Systems, Inc. and Progressive Health Group, LLC, Agree to Extend the Closing Date of Their Previously-Announced Sale of Trace Regional Medical Center

Retrieved on: 
Tuesday, December 12, 2023
General Health, Hospitals, Health, Sale, NYSE, Security (finance), Exchange, SunLink

SunLink Health Systems, Inc. (“SunLink”) (NYSE American: SSY) today announced that SunLink and Progressive Health Group, LLC (“Progressive”) have amended their previously-announced agreement for the sale by SunLink’s subsidiary, Crown Healthcare Investments, LLC, of Trace Regional Medical Center in Houston, Mississippi, to Progressive to, among other things, extend the closing date until January 31, 2024, on substantially the same price and terms previously announced.

Key Points: 
  • SunLink Health Systems, Inc. (“SunLink”) (NYSE American: SSY) today announced that SunLink and Progressive Health Group, LLC (“Progressive”) have amended their previously-announced agreement for the sale by SunLink’s subsidiary, Crown Healthcare Investments, LLC, of Trace Regional Medical Center in Houston, Mississippi, to Progressive to, among other things, extend the closing date until January 31, 2024, on substantially the same price and terms previously announced.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.
  • Each of the Company’s businesses is operated locally with a strategy of linking patients’ needs with healthcare professionals.
  • For additional information on SunLink Health Systems, Inc., please visit the Company’s website.

SunLink Health Systems, Inc. Announces Fiscal 2024 First Quarter Results

Retrieved on: 
Monday, November 20, 2023
Health, Technology, Other Technology, Health Technology, General Health, Pharmaceutical, Sale, NYSE, Security (finance), Bank statement, Trace, DME, Procurement, COVID-19, Pharmacy, SunLink, Government, Cryptocurrency, Video game

The results for Trace are included in discontinued operations for the current fiscal year and prior period financial information has been restated to include Trace in discontinued operations.

Key Points: 
  • The results for Trace are included in discontinued operations for the current fiscal year and prior period financial information has been restated to include Trace in discontinued operations.
  • Pharmacy net revenues increased above those of the comparable fiscal quarter of the prior fiscal year due to a $321 refund of prior periods sales taxes paid, an 8% increase retail and institutional pharmacy scripts filled and increased DME revenue per order in the fiscal quarter ended September 30, 2023 compared to the fiscal quarter ended September 30, 2022.
  • SunLink reported an operating loss for the quarter ended September 30, 2023 of $450,000 compared to an operating loss for the quarter ended September 30, 2022 of $617,000.
  • The decrease in operating loss from last year’s comparable quarter was due primarily to the increased net revenues this fiscal quarter.

SunLink Health Systems Reaches Agreement for Sale of Trace Regional Medical Center

Retrieved on: 
Monday, November 13, 2023
General Health, Hospitals, Health, Nursing, Managed Care, Sale, NYSE, Security (finance), Bank statement, Form, Calendar, Exchange, SunLink

SunLink Health Systems, Inc. (NYSE: American: SSY) today announced that its subsidiary, Crown Healthcare Investments, LLC, has signed an agreement with Progressive Health Group, LLC (“Buyer”) for the sale of the subsidiary that owns and operates Trace Regional Medical Center, which includes a hospital, skilled nursing facility and three (3) patient clinics in Chickasaw County, MS, for approximately $8,000,000.

Key Points: 
  • SunLink Health Systems, Inc. (NYSE: American: SSY) today announced that its subsidiary, Crown Healthcare Investments, LLC, has signed an agreement with Progressive Health Group, LLC (“Buyer”) for the sale of the subsidiary that owns and operates Trace Regional Medical Center, which includes a hospital, skilled nursing facility and three (3) patient clinics in Chickasaw County, MS, for approximately $8,000,000.
  • The transaction will therefore be reported in SunLink Health Systems, Inc.’s second fiscal quarter.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.
  • For additional information on SunLink Health Systems, Inc., please visit the Company’s website.

SunLink Health Systems, Inc. Announces Dividend of Fractional Interests in Series C Redeemable Preferred Shares to Holders of Its Common Shares

Retrieved on: 
Tuesday, August 8, 2023
Hospitals, Health, Pharmaceutical, Practice Management, Nursing, Indian stock exchange, Press release, Ohio Revised Code, SunLink, Incorporation (business), Series, Book, Security (finance), NYSE, Proxy

Subject to certain limitations, each outstanding Series C Preferred Share will have 1,000,000 votes per share (or 1,000 votes per Series C Fractional Interest).

Key Points: 
  • Subject to certain limitations, each outstanding Series C Preferred Share will have 1,000,000 votes per share (or 1,000 votes per Series C Fractional Interest).
  • Series C Fractional Interests will not vote independently from the Common Shares and a shareholder’s Series C Fractional Interests will automatically be deemed voted in the same manner as that which the shareholder votes his or her Common Shares.
  • The Series C Fractional Interests will effectively attach to the Common Shares for which they were dividended, and will be non-detachable, uncertificated and represented in book-entry form.
  • In that case, Series C Fractional Interests equal to the number of Common Shares to be transferred by such holder will be automatically transferred to the transferee of such Common Shares.

Fresh Vine Wine, Inc. Appoints Hitesh Dheri Chief Financial Officer

Retrieved on: 
Wednesday, May 31, 2023
ABA, Bachelor of Science, LLP, IPO, Employment, RSU, Wine, VINE, Spectrum, Applied behavior analysis, Marketing, PwC, Rutgers University, Globalstar, Baghicha Dheri, NYSE American, Hitesh, Growth, Market for corporate control, NYSE, SunLink, Pharmaceutical industry, Security (finance), Science

MINNEAPOLIS, May 31, 2023 (GLOBE NEWSWIRE) -- Fresh Vine Wine Inc. (NYSE American: VINE) today announced the appointment of Hitesh Dheri as Chief Financial Officer and Secretary, effective May 25, 2023.

Key Points: 
  • MINNEAPOLIS, May 31, 2023 (GLOBE NEWSWIRE) -- Fresh Vine Wine Inc. (NYSE American: VINE) today announced the appointment of Hitesh Dheri as Chief Financial Officer and Secretary, effective May 25, 2023.
  • The awards were offered as inducements material to the hiring of Messrs. Whetstone and Dheri.
  • Roger Cockroft, Chief Executive Officer commented on the appointment of Mr. Dheri, “I committed to putting a new C-suite team in place with the relevant experience and the necessary commitment to achieve our sales growth objective and the addition of Hitesh Dheri represents further progress against this objective.
  • Hitesh is an accomplished financial executive with experience helping build businesses.

SunLink Health Systems, Inc. Announces Fiscal 2023 First Quarter and COVID-19 Update

Retrieved on: 
Tuesday, November 15, 2022
Hospitals, Health, Practice Management, Nursing, Managed Care, Forgiveness, CMS, Calendar, Nursing, Quarantine, PRF, World Health Organization, File, Government, CARES Act, Marginal cost, SunLink, NYSE, Small business, Health care, ERC, Vaccination, Health Resources and Services Administration, PPP, Security (finance), Nature, DME, HHS, Small Business Administration, Death, The Rehabilitation Center at Hollywood Hills, Legislation, Risk, Public expenditure, Patient, Pension fund, Pharmaceutical industry, Health insurance, Pharmacy, COVID-19

The fiscal quarter ended September 30, 2021 included forgiveness of Paycheck Protection Plan (PPP) loans of $3,010,000 (pre-tax) which did not reoccur in the fiscal quarter ended September 30, 2022.

Key Points: 
  • The fiscal quarter ended September 30, 2021 included forgiveness of Paycheck Protection Plan (PPP) loans of $3,010,000 (pre-tax) which did not reoccur in the fiscal quarter ended September 30, 2022.
  • SunLink reported an operating loss for the quarter ended September 30, 2022 of $1,613,000 compared to an operating loss for the quarter ended September 30, 2021 of $993,000.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.
  • For additional information on SunLink Health Systems, Inc., please visit the Companys website.

SunLink Health Systems, Inc. Announces Fiscal 2022 Third Quarter Results and COVID-19 Update

Retrieved on: 
Monday, May 16, 2022
Medical Supplies, Medical Devices, Health, Hospitals, Other Health, Pharmaceutical, Department, Nursing, CARES Act, Income, Risk, The Rehabilitation Center at Hollywood Hills, Company, Federal, Centers for Medicare & Medicaid Services, Death, Private Securities Litigation Reform Act, U.S. Securities and Exchange Commission, World, Coronavirus, Patient, World Health Organization, Mission statement, Health, Government, Public expenditure, PPP, PRF, Human services, Nature, Economy, ERC, COVID-19, Health care, Legislation, Vaccination, Medicare, Capital expenditure, Quarantine, Compliance, Program, Industry, Calendar, Security (finance), Center, Nebraska Department of Health & Human Services, SunLink, NYSE, DME, Airline, Pharmaceutical industry, Health insurance, Internet service provider, Pharmacy

Provider Relief Funds (PRF) of $106,000 (pre-tax) were reported as income in the quarter ended March 31, 2022 compared to $11,000 (pre-tax) in the quarter ended March 31, 2021.

Key Points: 
  • Provider Relief Funds (PRF) of $106,000 (pre-tax) were reported as income in the quarter ended March 31, 2022 compared to $11,000 (pre-tax) in the quarter ended March 31, 2021.
  • Consolidated net revenues for the quarters ended March 31, 2022 and 2021 were $10,527,000 and $9,778,000, respectively, an increase of 7.7% in the current years quarter compared to the comparable quarter of the prior fiscal year.
  • SunLink reported an operating loss for the quarter ended March 31, 2022 of $1,064,000 compared to an operating loss for the quarter ended March 31, 2021 of $540,000.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.

SunLink Health Systems, Inc. Announces Fiscal 2022 Second Quarter Results and COVID-19 Update

Retrieved on: 
Monday, February 14, 2022
Medical Devices, Other Health, Hospitals, Health, Medical Supplies, Healthcare Facilities Accreditation Program, Income, NYSE, Patient, DME, CMS, Risk, Legislation, World, Company, Government, Calendar, Public expenditure, U.S. Securities and Exchange Commission, Coronavirus, SunLink, PPP, Death, Quarantine, Security (finance), Private Securities Litigation Reform Act, HHS, CARES Act, Economy, Health care, Compliance, ERC, Mission statement, PRF, Nursing, World Health Organization, Nature, COVID-19, Vaccination, Federal, The Rehabilitation Center at Hollywood Hills, Airline, Animal, Pharmaceutical industry, Health insurance, Internet service provider, Pharmacy

Provider Relief Funds (PRF) of $614,000 (pre-tax) were reported as income in the quarter ended December 31, 2021 compared to $3,417,000 (pre-tax) in the quarter ended December 31, 2020.

Key Points: 
  • Provider Relief Funds (PRF) of $614,000 (pre-tax) were reported as income in the quarter ended December 31, 2021 compared to $3,417,000 (pre-tax) in the quarter ended December 31, 2020.
  • Net revenues increased in the current fiscal quarter primarily due to an increase in Healthcare Facilities net revenue and increased Pharmacy Segment institutional pharmacy and durable medical equipment revenues.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.
  • For additional information on SunLink Health Systems, Inc., please visit the Companys website.

SunLink Health Systems, Inc. Announces Fiscal 2022 First Quarter Results and COVID-19 Update

Retrieved on: 
Monday, November 15, 2021
Hospitals, Health, Practice Management, Nursing, Managed Care, Legislation, Compliance, SunLink, Mission statement, CARES Act, Health care, Private Securities Litigation Reform Act, CMS, Government, Paycheck Protection Program, PRF, Security (finance), World, World Health Organization, Income, Coronavirus, COVID-19, Healthcare Facilities Accreditation Program, Calendar, The Rehabilitation Center at Hollywood Hills, Public expenditure, DME, Company, U.S. Securities and Exchange Commission, Quarantine, Small Business Administration, Small business, HHS, Nature, NYSE, PPP, OSHA, Vaccination, Forgiveness, ERC, Patient, Risk, Nursing, Economy, Death, Airline, Pharmaceutical industry, Vaccine, Health insurance

Net revenues increased slightly in the current fiscal quarter, primarily due to an increase in Healthcare Facilities hospital net revenue and increased Pharmacy Segment durable medical equipment revenues.

Key Points: 
  • Net revenues increased slightly in the current fiscal quarter, primarily due to an increase in Healthcare Facilities hospital net revenue and increased Pharmacy Segment durable medical equipment revenues.
  • COVID-19 was declared a global pandemic by the World Health Organization on March 11, 2020.
  • We believe the effect of the COVID-19 pandemic and public and governmental responses to it have negatively affected our last seven fiscal quarters results.
  • SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast.