Atlanta, Georgia (April 27, 2004)--SunLink Health Systems, Inc. (AMEX: SSY) announced that, simultaneous with issuing this press release, it is mailing a letter to its shareholders focusing on three current corporate matters:
- its recently-announced definitive agreement to sell Mountainside Medical Center for approximately $40 million, which will significantly improve SunLink's balance sheet with little loss of operating profit,
- SunLink's business plan, which has enhanced shareholder value and offers further opportunities to increase earnings, and
- Attentus Healthcare's most recent unsolicited "offer" to purchase the company for $5.00 per share, which SunLink believes is inadequate and untimely.
A copy of the Letter to Shareholders is attached.
SunLink Health Systems, Inc. currently operates eight community hospitals including Mountainside Medical Center, and related businesses in the Southeast and Midwest. Each SunLink facility is the only hospital in its community. SunLink's operating strategy is to link patients' needs with dedicated physicians and health care professionals to deliver quality, efficient medical care in each community it serves. For additional information on SunLink Health Systems, Inc., please visit our website at www.sunlinkhealth.com.
This press release and the attached Letter to Shareholders contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the Company's business strategy. These forward-looking statements are subject to certain risks, uncertainties and other factors, which could cause actual results, performance and achievements to differ materially from those anticipated. Certain of those risks, uncertainties and other factors are disclosed in more detail in the Company's Annual Report on Form 10-K for the year ended June 30, 2003 and in its Form S-4 relating to the HealthMont merger dated August 11, 2003.
Shareholder letter
