Welcome to our dedicated page for Sunlink Hlth news (Ticker: SSY), a resource for investors and traders seeking the latest updates and insights on Sunlink Hlth stock.
Sunlink Health Systems, Inc. (SSY) operates integrated healthcare services and pharmacy solutions across the Southeastern United States. This page provides investors and industry stakeholders with timely updates on corporate developments, financial performance, and operational milestones.
Access comprehensive coverage of SSY's press releases including earnings announcements, strategic partnerships, facility expansions, and technology implementations. Track updates across both core business segments: healthcare services (hospital operations, geriatric psychiatry, nursing care) and pharmacy solutions (institutional/retail distribution, medical equipment services).
Our news collection enables efficient monitoring of SSY's market position within competitive healthcare sectors. Stay informed about management initiatives, regulatory developments, and service enhancements impacting the company's regional footprint.
Bookmark this page for direct access to SSY's official communications and related analysis. Check regularly for updates on healthcare innovations and pharmacy sector developments central to the company's growth strategy.
SunLink Health Systems (NYSE American: SSY) reported its fiscal 2025 second quarter results, showing a loss from continuing operations of $1,070,000 ($0.15 per share) compared to $407,000 ($0.06 per share) in the same quarter last year. The company's consolidated net revenues decreased to $7,935,000 from $8,510,000, primarily due to lower pharmacy revenues.
The company announced a definitive merger agreement with Regional Health Properties on January 3, 2025, which will involve exchanging shares for 1,410,000 shares of Regional common stock and 1,410,000 shares of Series D 8% Cumulative Convertible Redeemable Preferred Stock. The merger requires shareholder and regulatory approvals.
SunLink continues to experience post-COVID-19 effects, including wage pressure, workforce shortages, supply chain disruption, and inflationary pressures. The company also recorded a $100,000 impairment loss related to its information technology business, which was sold in January 2025.
SunLink Health Systems (NYSE American: SSY) reported Q1 fiscal 2025 results with a loss from continuing operations of $442,000 ($0.06 per share), compared to $428,000 loss in Q1 2024. The company sold non-core assets for $1,465,000, resulting in a $694,000 pre-tax gain. Net loss was $549,000 ($0.08 per share), improved from $1,344,000 loss year-over-year. Consolidated revenues decreased to $7,923,000 from $8,555,000, with pharmacy revenues declining 7%. The company's operating loss widened to $1,194,000 from $450,000 due to decreased revenues and higher operating costs. The Board is actively pursuing extraordinary corporate transactions, including potential mergers.
SunLink Health Systems, Inc. (NYSE AMERICAN: SSY) has announced the completion of the sale of its formerly operated Trace Regional Hospital real estate in Houston, Mississippi. The transaction, executed by its subsidiary Southern Health of Houston, Inc., and an affiliate, yielded approximately $2,000,000, with net proceeds of about $1,932,000 to be retained for working capital and general corporate purposes.
The company anticipates recognizing a pre-tax loss of approximately $91,000 on the sale in its second fiscal quarter ending December 31, 2024. This strategic move aligns with SunLink's goal of positioning itself for a potential extraordinary transaction, as it seeks to identify opportunities that could offer shareholders future value appreciation at an acceptable risk level.
SunLink Health Systems (NYSE American: SSY) reported financial results for Q4 and FY 2024. Key highlights include:
- Q4 loss from continuing operations: $652,000 ($0.09 per share)
- Q4 earnings from discontinued operations: $4,940,000 ($0.70 per share)
- Q4 net income: $4,288,000 ($0.61 per share)
- FY 2024 loss from continuing operations: $2,311,000 ($0.33 per share)
- FY 2024 net loss: $1,527,000 ($0.22 per share)
- Sale of Trace Extended Care & Rehab for $6,522,000, with a gain of $5,584,000
- Revised agreement for sale of Trace Hospital Assets
- Consolidated net revenues for Q4: $7,913,000
- Consolidated net revenues for FY 2024: $32,440,000
The company continues to experience adverse effects from the COVID-19 pandemic, including workforce shortages and inflationary pressures.
SunLink Health Systems (NYSE:AMERICAN: SSY) announced the sale of its Trace Extended Care & Rehab facility in Houston, Mississippi, for approximately $7,100,000.
The net proceeds of about $6,500,000 will be used for working capital and general corporate purposes.
The company expects a pre-tax gain of approximately $5,700,000 in its fourth fiscal quarter ending June 30, 2024.
This sale aligns with SunLink's strategy to position itself for potential extraordinary transactions like mergers or consolidations, while also improving existing operations and disposing of non-performing assets.
SunLink Health Systems (NYSE American: SSY) reported a significant increase in losses for its third fiscal quarter ended March 31, 2024. The loss from continuing operations was $824,000 (or $0.12 per share), up from $453,000 (or $0.06 per share) in the same period last year. Net loss for the quarter was $1,396,000 (or $0.20 per share), compared to $762,000 (or $0.11 per share) last year.
This quarter's results included a $572,000 loss from discontinued operations, primarily due to a $613,000 loss on the sale of Trace Regional Hospital and associated properties.
Consolidated net revenues dropped to $7,462,000 from $8,181,000, mainly due to a 9% decrease in pharmacy net revenues. Operating loss increased to $853,000 from $467,000. The nine months ended March 31, 2024, also showed a higher net loss of $5,815,000 (or $0.83 per share), compared to $369,000 (or $0.05 per share) last year.
SunLink also reported ongoing challenges from COVID-19, including workforce shortages and inflationary pressures.
