Welcome to our dedicated page for Regional Health Pptys news (Ticker: RHEPB), a resource for investors and traders seeking the latest updates and insights on Regional Health Pptys stock.
Regional Health Pptys Inc (RHEPB) delivers specialized healthcare real estate solutions through strategic property acquisitions and management. This news hub provides investors with essential updates on corporate developments, financial disclosures, and market positioning within the medical property sector.
Access authoritative reporting on earnings announcements, facility expansions, and leadership updates. Our curated collection features press releases detailing lease agreements, portfolio growth strategies, and governance practices that shape RHEPB's operational framework.
Key coverage areas include financial performance metrics, healthcare facility transactions, and strategic partnerships within the medical real estate ecosystem. Stay informed about non-GAAP financial disclosures and portfolio optimization efforts that drive the company's healthcare infrastructure investments.
Bookmark this page for streamlined access to verified information about RHEPB's market activities. Check regularly for updates on property management innovations and regulatory compliance developments impacting healthcare real estate operations.
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.
Regional Health Properties (RHE) has announced a dividend distribution of 250,000 shares of common stock to holders of its 12.5% Series B Cumulative Redeemable Preferred Shares. The distribution will be made on a pro rata basis, with shares rounded down to the nearest whole share. The dividend is scheduled for payment around February 19, 2025, with a record date of February 10, 2025.
The distribution is mandatory under Regional's Amended and Restated Articles of Incorporation. Shareholders will receive their shares in book entry form, with no physical certificates being issued. Notably, Series B Preferred Stock holders won't need to pay any cash, provide other consideration, or surrender their existing preferred shares to receive this distribution.
Regional Health Properties (RHE) and SunLink Health Systems (SSY) have announced a definitive merger agreement, creating a combined healthcare company. Under the terms, SunLink will merge with Regional in exchange for 1,410,000 shares of Regional common stock and 1,410,000 shares of newly-authorized Series D 8% Cumulative Convertible Redeemable Preferred Stock ($10 liquidation preference).
The deal will give SunLink shareholders approximately 43% ownership of the combined company. SunLink brings $17.6 million in total assets and no long-term debt. Regional expects pre-tax cost synergies of $1.0 million by fiscal 2026. The merged company will be led by Regional's CEO Brent Morrison, with SunLink's CEO Robert Thornton serving as Executive VP of Corporate Strategy. The board will expand to include industry veterans C. Christian Winkle and Scott Kellman.
The transaction, unanimously approved by both boards, is expected to close in spring 2025, subject to shareholder and regulatory approvals.
Regional Health Properties (NYSE American: RHE) announced its Q3 2024 financial results on November 26, 2024. The company reported a reduced loss from operations of $0.3 million, improved from $0.4 million in Q3 2023. Adjusted EBITDA increased to $1.0 million, compared to $0.6 million in the same period last year. The company collected 80.3% of contractual rent and remains optimistic about future collections.
Business highlights include the Healthcare Services segment achieving its first positive EBITDA since 2022 and the Meadowood facility in Glencoe, AL reaching its highest occupancy level since 2022. The overall portfolio CMS star rating is the highest in over two years.
Financially, the company reported total revenue of $4.2 million and a net loss of $1.0 million. As of September 30, 2024, Regional had $49.7 million net of outstanding debt, with a weighted-average interest rate of 5.1% and maturity of approximately 17 years. Post-quarter, a $0.5 million line of credit was obtained to ensure compliance with debt payments.
Regional Health Properties has received a delisting notice from NYSE American for both its common stock and Series A Preferred Shares. The NYSE Regulation determined the company failed to regain compliance with Sections 1003(a)(i) and (ii) of the NYSE American Company Guide by the end of its 18-month compliance period on November 10, 2024.
The company has until November 18, 2024, to request a review by the Listings Qualifications Panel and intends to appeal the determination. Trading will continue during the appeal process. While the company is working to regain compliance, there is no guarantee of success.
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