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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 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.
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