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Regional Health Properties (OTCQB: RHEP) reported its Q2 2025 financial results and announced the completion of a transformative merger with SunLink Health Systems. The company posted Q2 2025 revenue of $10.1 million with an Adjusted EBITDA of $456,000, while recording a GAAP net loss of $1.4 million.
Key operational highlights include reaching a 66.8% occupancy rate in June, the highest in over a year, and the Meadowood facility's memory care unit achieving 93% occupancy. The company entered into a management contract with CJM Advisors for facilities in South Carolina and Georgia.
The merger with SunLink, completed on August 14, 2025, transforms Regional into a vertically integrated healthcare services company. The transaction involved an exchange ratio of 1.1330 Regional common shares and one Regional Series D preferred share for every five SunLink shares, resulting in approximately 1.6 million new common shares and 1.4 million preferred shares being issued.
Regional Health Properties (OTCQB: RHEP) has completed its merger with SunLink Health Systems, effective August 14, 2025. The merger creates a vertically integrated healthcare company combining SunLink's pharmacy and healthcare services with Regional's real estate platform.
Under the merger terms, every five SunLink shares were converted into 1.1330 Regional common shares and one share of Regional Series D 8% preferred stock. The total consideration includes approximately 1.6 million Regional common shares and 1.4 million Series D preferred shares.
The combined entity will operate as Regional Health Properties, led by CEO Brent Morrison, with a newly structured leadership team and board of directors including executives from both companies.
Regional Health Properties (OTCQB: RHEP) and SunLink Health Systems (NYSE American: SSY) have announced that their shareholders approved the merger agreement on August 4, 2025. The merger will result in SunLink merging into Regional, with Regional continuing as the surviving corporation.
The merger approval includes the issuance of Regional common stock and Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares. SunLink shareholders also approved the merger-related compensation proposal on a non-binding advisory basis. The transaction's closing remains subject to customary closing conditions.
Regional Health Properties (OTCQB: RHEP) and SunLink Health Systems (NYSE American: SSY) have secured shareholder approvals for their planned merger on August 4, 2025. Both companies' shareholders voted in favor of the merger agreement, where SunLink will merge into Regional, with Regional continuing as the surviving corporation.
The merger approval includes Regional shareholders' authorization to issue new common stock and Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares. SunLink shareholders additionally approved a non-binding advisory merger-related compensation proposal. The transaction's completion remains subject to customary closing conditions.
Regional Health Properties (OTCQB:RHEP) has issued a statement urging common shareholders to vote in favor of its proposed merger with SunLink Health Systems. The company is responding to opposition from two shareholders, Ken Grossman and Charlie Frischer, who collectively own significant Series B preferred stock but minimal common stock.
The merger's key benefits include a $6 million capital injection, enhanced management expertise, and improved board oversight. Since the merger announcement on January 6, 2025, Regional's stock has increased by 120%, while SunLink's shares are up 30%. The company argues that the merger offers better value potential for common shareholders compared to liquidation, which would primarily benefit preferred stockholders.
Black Pearl Equities (Black Pearl) has announced a tender offer to purchase up to 49.9% of outstanding shares of Regional Health Properties (OTCQB: RHEP) at $4.25 per share in cash. The offer, announced on July 18, 2025, will expire on August 31, 2025 at 5:00 p.m. ET.
The tender offer is contingent on several conditions, including obtaining valid tenders for a minimum of 45% of outstanding shares, waiver of applicable rights plans, and no material adverse changes to RHEP's financial condition. The offer provides RHEP shareholders with a liquidity opportunity at a premium to recent market prices.
Regional Health Properties (RHEP) and SunLink Health Systems (SSY) have revised their all-stock merger agreement. Under the new terms, SunLink will merge into Regional in exchange for approximately 1.59M shares of Regional common stock and 1.41M shares of newly-authorized Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares.
The transaction will result in SunLink shareholders owning approximately 45.92% of the combined company. The Series D Preferred Stock will have an initial liquidation preference of $12.50 per share with 8% annual dividends starting July 2027. SunLink may pay special dividends up to $1M before closing.
The combined company expects pre-tax cost synergies of $1.0M by fiscal 2026. Post-merger, Brent Morrison will serve as CEO, Robert Thornton as EVP of Corporate Strategy, and Mark Stockslager as CFO. The merger is expected to close in summer 2025, subject to shareholder and regulatory approvals.
Regional Health Properties (RHEP) has reported its Q4 and full-year 2024 financial results. In Q4, the company achieved revenue of $5.6 million, with income from operations of $540k, EBITDA of $714K, and Adjusted EBITDA of $1.3 million. The company maintained a strong 92% rent collection rate.
For the full year 2024, RHEP reported revenue of $18.3 million, income from operations of $161k, EBITDA of $1.7 million, and Adjusted EBITDA of $3.5 million. The company's balance sheet shows $49.7 million in net indebtedness with a 5.1% weighted-average interest rate.
Key developments include a new management contract with CJM Advisors for the Sylva, NC facility, improved occupancy at the Meadowood facility, and securing a $500k line of credit. The company is progressing with its planned merger with SunLink Health Systems, expected to close in early Q3 2025.
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