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Thursday, February 2, 2023

SunLink Health Systems Inc. (NASDAQ: SSY) stock rises in the pre-market session. Here’s what’s happening?

SunLink Health Systems Inc. (NASDAQ: SSY) stock gained by 23.21% at the last trading close while the SSY stock price continued to rise by 5.8% in the pre-market trading. There is no update available particularly about this rise in SSY share price. SunLink Health Systems is the holding firm for a group of companies that manage and run healthcare assets and services in the Southeast. Each of SSY’s entities is managed on a local level, with the goal of connecting patients’ needs with healthcare providers.

Recent Past Development

On March 16, 2021 SunLink Health Systems reported that Trace Regional Hospital, a wholly-owned subsidiary, has completed its Trace Forward Capital Package, which included a $2 million investment to extend, update, and develop the hospital’s physical plant, patient care, ancillary facilities, and support areas. The Trace Forward Capital Plan involves an extension of its Pathways Care Program, a geriatric mental health facility, by eight beds, bringing the total number of beds at Pathways to 26.

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A full hospital-wide replacement and enhancement of the heating and air conditioning systems, removal of a large portion of the building roof, upgraded Women’s services infrastructure, new diagnostic devices, additional information technology equipment, and increased IT security services are all included in the Plan. Trace has also acquired additional ultrasound instruments and improved telemedicine facilities to complement its current digital mammography capability as part of these enhancements.

Official Remarks

Marianne Johnson who is COO/CNO of Trace and executive in charge of the Pathways Care Program said, that in their northeast Mississippi service area, the extension and enhancement of Trace’s Pathways Care Program will enable them to satisfy the rising need for quality senior behavioral services as well as acute care hospital services.

Sheila Brockman, Trace CEO, said that their main construction investments are scheduled to be concluded by June 30, 2021, with the least amount of damage to our medical center facilities. They are being paid from Trace’s cash on hand and represent their contribution to the quality and accessibility of healthcare in the Houston community and Chickasaw County, as well as their belief in the northeast Mississippi region’s growth potential.

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