SunLink Health expects to report a pre-tax gain of about $300,000 on the sale during the quarter that ended Dec. 31, the company says in a prepared statement. SunLink used proceeds from the sale to help pay off the remaining $2 million balance on a bridge loan that was due in February.
"The sale of our Jasper nursing home will allow us to concentrate our capital andmanagement resources on the new replacement hospital we are building across town in Jasper," Robert M. Thornton, Jr., chairman and chief executive officer, says in the statement.
Through its subsidiaries, SunLink operates six community hospitals in the U.S.
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