SunLink Health Systems, Atlanta, has agreed to acquire privately held HealthMont, Franklin, Tenn., in a deal worth about $15.3 million, SunLink announced. The deal was first reported yesterday on Modern Healthcare's Web site. HealthMont would divest its 33-bed Dolly Vinsant Memorial Hospital, San Benito, Texas, before being acquired. SunLink then would gain 155-bed Memorial Hospital of Adel (Ga.) and 31-bed Callaway Community Hospital, Fulton, Mo., giving it a total of eight hospitals and about $116 million in annual revenue. HealthMont's investors would receive up to 1.16 million shares of SunLink, worth $2.7 million as of yesterday's closing share price. SunLink would take on HealthMont's $8.9 million senior debt and $900,000 capital lease obligations and initiate a $3 million loan for working capital. HealthMont and SunLink executives could not be reached for comment. -- by Vince Galloro
For-profits SunLink, HealthMont in deal
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