SunLink Health Systems, Inc. (NYSE Alternext US: SSY) today announced that it sold three of its home health businesses to subsidiaries of SunCrest Healthcare, Inc. for approximately $3,300,000. The home health businesses are located in Adel, GA, Clanton, AL and Fulton, MO. Net proceeds of the sale will be used to repay a portion of SunLink’s debt under its existing credit facility. The sale is expected to result in a pre-tax gain of approximately $2,000,000, which will be reported in its second fiscal quarter ending December 31, 2009.
SunLink Health Systems, Inc. currently operates seven community hospitals, three hospital-based nursing homes, and one hospital-based home care business in the Southeast and Midwest, and a specialty pharmacy business, SunLink ScriptsRx, in Louisiana. Each SunLink hospital is the only hospital in its community. SunLink’s operating strategy is to link patients’ needs with dedicated physicians and health professionals to deliver quality, efficient medical care and healthcare products and services in each area it serves.
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