UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On December 11, 2023, the Company’s subsidiary, Crown Healthcare Investments, LLC, amended their previously announced agreement with Progressive Health Group, LLC (“Buyer”) for the sale of the subsidiary that owns and operates Trace Regional Medical Center, to the Buyer (the “Sale”). The amendment, among other things, extends the closing date until January 31, 2023, on substantially the same price and terms previously announced.
Item 8.01 Other Events.
On December 12, 2023, the Company issued a press release announcing the amendment to the previously announced Sale agreement. A copy of the referenced press release is attached as Exhibit 99.1 hereto and is incorporated by reference.
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Financial Statements and Exhibits. |
Exhibits The following exhibit is filed with this report:
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: |
December 12, 2023 |
/s/ Mark J. Stockslager |
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Mark J. Stockslager |
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Chief Financial Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE NEWS RELEASE
Contact:
Robert M. Thornton, Jr.
Chief Executive Officer
(770) 933-7004
SUNLINK HEALTH SYSTEMS, INC. AND PROGRESSIVE HEALTH GROUP, LLC, AGREE TO EXTEND THE CLOSING DATE OF THEIR PREVIOUSLY-ANNOUNCED SALE OF TRACE REGIONAL MEDICAL CENTER.
Atlanta, GA (December 12, 2023) SunLink Health Systems, Inc. (“SunLink”) (NYSE: American: SSY) today announced that SunLink and Progressive Health Group, LLC (“Progressive”) have amended their previously-announced agreement for the sale by SunLink’s subsidiary, Crown Healthcare Investments, LLC, of Trace Regional Medical Center in Houston, Mississippi, to Progressive to, among other things, extend the closing date until January 31, 2024, on substantially the same price and terms previously announced.
SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast. Each of the Company’s businesses is operated locally with a strategy of linking patients’ needs with healthcare professionals. For additional information on SunLink Health Systems, Inc., please visit the Company’s website.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company’s business strategy. These forward-looking statements are subject to certain risks, uncertainties, and other factors, which could cause actual results, performance, and achievements to differ materially from those anticipated. Certain of those risks, uncertainties and other factors are disclosed in more detail in the company’s Annual Report on Form 10-K for the year ended June 30, 2023 and other filings with the Securities and Exchange commission which can be located at www.sec.gov.
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