SunLink Health Systems Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
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Item 8.01 Other Events.
On June 3, 2024, the Company's indirect subsidiary, Southern Health Corporation of Houston, Inc. (“Southern”) and an affiliate completed the sale of its Trace Extended Care & Rehab senior care facility and related real estate in Houston, Mississippi for approximately $7,100,000. The company said the net proceeds of approximately $6,500,000 will be retained for working capital and general corporate purposes. The company expects to recognize a pre-tax gain on the sale of approximately $5,700,000 in its fourth fiscal quarter ending June 30, 2024.
Southern previously reported the sale on January 22, 2024 of the personal and intangible property of its Trace Regional Hospital and three (3) patient clinics in Houston, Chickasaw County, MS, (“Trace”) to Progressive for $500,000 pursuant to an asset purchase agreement and entered into a six-month net lease with Progressive of the underlying hospital real property for $20,000 per month. Southern also entered into a real estate purchase agreement with Progressive under which Progressive is to purchase such leased hospital real estate of Trace for $2,000,000 by July 31, 2024.
Item 9.01. |
Financial Statements and Exhibits. |
Exhibits The following exhibits are filed with this report:
EXHIBIT 99.1 – SunLink Health Systems, Inc. announces sale of Trace Extended Care & Rehab
EXHIBIT 104 – Cover Page Interactive Data File - The cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SUNLINK HEALTH SYSTEMS, INC. |
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Date: |
June 5, 2024 |
/s/ Mark J. Stockslager |
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Mark J. Stockslager |
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Chief Financial Officer |