Sunlink Health Systems' Subsidiary Reaches Revised Agreements For Sale Of Trace Regional Medical Center And Clinics; Sold Property To Progressive For $500,000; Six-Month Net Lease For $20,000/Month; Terminates Nov. 10, 2023 Transaction
Portfolio Pulse from Benzinga Newsdesk
SunLink Health Systems' subsidiary has revised agreements for the sale of Trace Regional Medical Center and its clinics. The property was sold to Progressive for $500,000. Additionally, a six-month net lease agreement has been established at $20,000 per month. The previous transaction dated November 10, 2023, has been terminated.
January 29, 2024 | 2:30 pm
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SunLink Health Systems has successfully sold Trace Regional Medical Center and associated clinics to Progressive for $500,000 and entered into a lease agreement. The termination of the previous deal may reflect better terms for SSY.
The sale of assets and the establishment of a lease agreement are likely to be viewed positively by investors as it indicates successful negotiations and potential for revenue through leasing. The termination of the previous deal suggests that the new terms could be more favorable for SSY, which may lead to a short-term positive impact on the stock price.
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