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SoutheastHEALTH in Missouri Acquires SunLink's Missouri Southern Healthcare

SoutheastHEALTH, based in Cape Girardeau, Mo., has officially acquired the leasehold interest in Missouri Southern Healthcare in Dexter.

Missouri Southern Healthcare, which is operated by Dexter Hospital LLC and includes a 50-bed acute-care hospital, is part of SunLink Health Systems. SunLink Chairman and CEO Robert Thornton Jr. said the for-profit hospital operator wanted to sell all assets of Missouri Southern Healthcare in order to "improve our remaining hospitals, repay debt and for general corporate purposes," according to a news release.

The sale price of Missouri Southern Healthcare's assets and leasehold interest was $9.8 million, and SunLink expects to see net proceeds of $7 million. The transaction is still subject to a number of conditions, including due diligence and regulatory approvals, but it is expected to close by Dec. 31.

Missouri Southern Healthcare will be SoutheastHEALTH's second acute-care hospital, in addition to a heart hospital, rehabilitation services and other medical centers. After the deal is complete, SunLink will own and operate four community hospitals. SunLink recently ended its 2012 fiscal year with a profit of $1.08 million, and it sold another hospital — Memorial Hospital of Adel (Ga.) — in July.

More Articles on Hospital Acquisitions:

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Healthcare M&A Deal, Dollar Volume Dives in 3Q

University of Maryland Medical System to Acquire St. Joseph Med Center by Nov. 1

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