SSY Sunlink Health Systems

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 11, 2023

SunLink Health Systems Inc.

(Exact name of Registrant as Specified in Its Charter)

Georgia			001-12607	31-0621189
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
900 Circle 75 Parkway Suite 690
Atlanta, Georgia				30339
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 770 933-7000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares without par value Preferred Share Purchase Rights		SYY		NYSE American LLC

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. ☐

 

 

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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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Item 9.01.	Financial Statements and Exhibits.

Exhibits The following exhibit is filed with this report:

EXHIBIT 99.1 – 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

 

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.

		SUNLINK HEALTH SYSTEMS, INC.
Date:	December 12, 2023	/s/ Mark J. Stockslager
		Mark J. Stockslager
		Chief Financial Officer

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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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v3.23.3

Document and Entity Information	Dec. 11, 2023
Document And Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Dec. 11, 2023
Entity Registrant Name	SunLink Health Systems Inc.
Entity Incorporation, State or Country Code	GA
Entity File Number	001-12607
Entity Tax Identification Number	31-0621189
Entity Address, Address Line One	900 Circle 75 Parkway
Entity Address, Address Line Two	Suite 690
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30339
City Area Code	770
Local Phone Number	933-7000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000096793
Common Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Common Shares without par value
Trading Symbol	SYY
Security Exchange Name	NYSEAMER
Right [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Preferred Share Purchase Rights
Security Exchange Name	NONE
No Trading Symbol Flag	true

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