Atlanta-based SunLink Health Systems posted a $1.16 million net loss in the quarter ended Sept. 30, similar to when the small for-profit hospital operator lost $1.4 million in the same period a year ago.
SunLink's operating loss in its first quarter was a shade more at $1.17 million. The company's net revenue also declined 0.4 percent year-over-year to $25.6 million.
In its 2013 fiscal year, which ended June 30, SunLink posted a profit of $4.5 million. The company, which currently owns and operates four small community hospitals and a pharmacy business, has been divesting its hospitals as it looks to go private.
Over the past several years, SunLink has consistently posted operating losses and declining revenue, as its hospitals rely heavily on Medicare and Medicaid and also have high rates of uninsured patients. Previously, executives said they may try to sell two of its remaining hospitals, which are scattered throughout rural areas in the South, although there has been no word if the company is trying to sell all assets. As of Sept. 30, SunLink's assets totaled approximately $66 million.
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