SunLink Health Systems, Atlanta, said it reversed a loss from a year ago in its first quarter ended Sept. 30 on stronger revenue generated by new physicians and capital upgrades. SunLink earned $309,000, or 4 cents per share, in the quarter, compared with a loss of $1.1 million, or 22 cents per share, in the year-ago quarter. Revenue was up 43.2% to $30.5 million. SunLink said a $30 million credit facility that it closed on in October will allow the company to further upgrade its hospitals and make selective acquisitions. SunLink also said that it received a claim last week for $838,000 in lease payments for equipment used at four HealthMont hospitals. SunLink acquired two of the hospitals in October 2003, and the other two were sold by HealthMont prior to the acquisition. SunLink said it has defenses against at least part of the claim. The company will set aside $300,000 as a reserve. SunLink owns or operates seven hospitals. -- by Vince Galloro
SunLink turns a profit as spending pays off
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.