The acquisitions are Memorial Hospital of Adel (GA), a 60-bed, acute-care facility and a 95-bed nursing home; and Callaway Community Hospital, a 49-bed, acute-care hospital in Fulton, MO. A third HealthMont facility in Texas will be sold prior to the merger.
Under the terms of the merger, HealthMont shareholders are expected to receive one share of common stock in SunLink for each 5.4 HealthMont share.
SunLink will assume up to $9.8 million in HealthMont senior debt and capital lease obligations. The obligations consist of $8.9 million and about $900,000 in capital leases, primarily for equipment.
SunLink has arranged a $3-million, three-year, secured term loan at 15% interest per year with Atlanta-based Chatham Investment Fund LLC, which, according to a printed statement, will be used primarily for working capital.
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