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home / articles / SSY - Why SunLink Health Systems (SSY) Stock Is Moving | Benzinga

SSY - Why SunLink Health Systems (SSY) Stock Is Moving | Benzinga

SunLink Health Systems Inc.

SunLink Health Systems Inc (NASDAQ:SSY) shares are trading higher by 13.4% to $0.68 during Tuesday's session after the company late Monday announced that its subsidiary, Southern Health Corporation of Houston, has sold the Trace Extended Care & Rehab senior care facility and related real estate in Houston, Mississippi for around $7.1 million. 

The net proceeds of about $6.5 million will be used for working capital and general corporate purposes. The sale is expected to result in a pre-tax gain of approximately $5.7 million in the fourth fiscal quarter ending June 30. 

This sale aligns with SunLink’s strategy to position itself for a potential extraordinary transaction, such as a merger or consolidation, improve its operations, and consider selling non-performing assets. The company aims to ...

SSY) Stock Is Moving>Full story available on Benzinga.com
Stock Information
Company Name: SunLink Health Systems Inc.
Stock Symbol: SSY
Market: NYSE
Website: sunlinkhealth.com
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