SunLink Health Systems, Atlanta, said a second bidder has emerged for HealthMont, Franklin, Tenn., four months after SunLink signed a definitive agreement to buy two of the system's three hospitals for $15.3 million. SunLink did not identify the new bidder. SunLink said it disagrees with HealthMont on the value of the competing offer. HealthMont officials were not immediately available for comment. For its second quarter ended Dec. 31, 2002, Sunlink, which operates six hospitals, lost $986,000, or 20 cents per share -- including a $411,000 charge for costs related to the HealthMont deal. By comparison, the company had a profit of $781,000, or 15 cents per share, in the year-ago quarter. Revenue was up 9.7%, to $23.7 million. SunLink also took a charge of $1.6 million to write down the value of its Mountainside Medical Center, Jasper, Ga., which will open a replacement hospital in May. For the sixth months ended Dec. 31, SunLink lost $551,000, or 11 cents per share. Revenue was up 10%, to $47.5 million. -- by Vince Galloro
SunLink hits stumbling block in HealthMont deal
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.