Regional Health Properties Shares More Than Double on SunLink Health Deal

Dow Jones01-07

By Josh Beckerman

Regional Health Properties shares more than doubled as the healthcare real estate investor agreed to buy SunLink Health Systems in a stock transaction. SunLink's operations include Carmichael's Cashway Pharmacy.

Regional shares were recently up 112% to $3.30. The stock had an intraday range of $3.18 to $6.80 Monday. Meanwhile, SunLink was up 23% to $1.12.

Regional will issue 1.41 million common shares and 1.41 million shares of newly authorized preferred stock.

"This merger will create a combined company with a stronger balance sheet and greater scale," Regional said.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 06, 2025 14:42 ET (19:42 GMT)

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