This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SunLink Health Systems Announces $5 Million Financing For Improvements And Additional Services At Callaway Community Hospital In Fulton, Mo. And For Partial Debt Refinancing

SunLink Health Systems, Inc. (NYSE:Amex: SSY) today announced that it closed a $5,000,000 loan for improvements and additional services at its Callaway Community Hospital in Fulton, Mo. Approximately $1,500,000 of the loan proceeds will be used for improvements to the hospital and to provide an inpatient geriatric psychiatry unit, as well as for working capital. The remaining net proceeds of approximately $3,250,000 were used to refinance a portion of the company’s senior debt. The loan was made by Pioneer Bank SSB and partially guaranteed under the U.S. Department of Agriculture, Rural Development Business & Industry Program. The loan is repayable monthly over 25 years at floating Prime Rate plus 1.5%. The loan is collateralized by the hospital real estate and equipment. SunLink was assisted in this transaction by Healthcare Finance & Development, LLC.

Robert M. Thornton Jr., chairman and chief executive officer of SunLink, commented, “In addition to lowering our borrowing costs and improving our cash flow, this financing allows us to invest in improvements at this hospital and add these new geriatric psychiatric services, which are in high demand in the community. This financing is another step toward our objective of establishing longer debt maturities, which allows us greater operating flexibility and better positions us to drive long-term value for our shareholders.” Mr. Thornton continued, “This financing also underscores the confidence our financial partners have in our business model as we execute our strategy of delivering quality, efficient medical care in each community we serve.”

SunLink Health Systems, Inc. currently operates five community hospitals and related businesses in the Southeast and Midwest, excluding Memorial Hospital of Adel that the company has contracted to sell, and a specialty pharmacy company in Louisiana. Each SunLink facility is the only hospital in its community. SunLink’s operating strategy is to link patients’ needs with dedicated physicians and health professionals to deliver quality, efficient medical care in each community it serves. For additional information on SunLink Health Systems, Inc, please visit the company’s website at

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, 2011 and other filings with the Securities and Exchange Commission which can be located at

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs