SoutheastHEALTH, based in Cape Girardeau, Mo., has officially acquired the leasehold interest in Missouri Southern Healthcare in Dexter.
Missouri Southern Healthcare, which is operated by Dexter Hospital LLC and includes a 50-bed acute-care hospital, is part of SunLink Health Systems. SunLink Chairman and CEO Robert Thornton Jr. said the for-profit hospital operator wanted to sell all assets of Missouri Southern Healthcare in order to "improve our remaining hospitals, repay debt and for general corporate purposes," according to a news release.
The sale price of Missouri Southern Healthcare's assets and leasehold interest was $9.8 million, and SunLink expects to see net proceeds of $7 million. The transaction is still subject to a number of conditions, including due diligence and regulatory approvals, but it is expected to close by Dec. 31.
Missouri Southern Healthcare will be SoutheastHEALTH's second acute-care hospital, in addition to a heart hospital, rehabilitation services and other medical centers. After the deal is complete, SunLink will own and operate four community hospitals. SunLink recently ended its 2012 fiscal year with a profit of $1.08 million, and it sold another hospital — Memorial Hospital of Adel (Ga.) — in July.
Missouri Southern Healthcare, which is operated by Dexter Hospital LLC and includes a 50-bed acute-care hospital, is part of SunLink Health Systems. SunLink Chairman and CEO Robert Thornton Jr. said the for-profit hospital operator wanted to sell all assets of Missouri Southern Healthcare in order to "improve our remaining hospitals, repay debt and for general corporate purposes," according to a news release.
The sale price of Missouri Southern Healthcare's assets and leasehold interest was $9.8 million, and SunLink expects to see net proceeds of $7 million. The transaction is still subject to a number of conditions, including due diligence and regulatory approvals, but it is expected to close by Dec. 31.
Missouri Southern Healthcare will be SoutheastHEALTH's second acute-care hospital, in addition to a heart hospital, rehabilitation services and other medical centers. After the deal is complete, SunLink will own and operate four community hospitals. SunLink recently ended its 2012 fiscal year with a profit of $1.08 million, and it sold another hospital — Memorial Hospital of Adel (Ga.) — in July.
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