SunLink Health Systems, Atlanta, reported solid gains in patient volume for its fourth quarter ended June 30 and cited the recruitment of 30 physicians to its six rural hospitals over the past 2 1/2 years. Quarterly profits were up sharply, owing mostly to lower interest and income tax expenses and a smaller loss on discontinued operations. SunLink earned $461,000, or 9 cents per share, for the quarter, compared with $56,000, or 1 cent per share, in the year-ago quarter. Revenue rose 19.3% to $26 million on a 12.9% increase in equivalent admissions and a 25.9% increase in surgeries. For its fiscal 2003, SunLink earned $553,000, or 11 cents per share, compared with $833,000, or 17 cents per share, in the previous year. Revenue climbed 13.8% to $99.2 million. Profits were held down by expenses of $411,000 related to SunLink's acquisition of HealthMont, Franklin, Tenn., and higher, nonspecific operating expenses. The two-hospital HealthMont acquisition is scheduled to close today but may take a day or two longer while some financing arrangements are completed, SunLink said. -- by Vince Galloro
Physician recruits boost SunLink's performance
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.