SunLink Health Systems, Inc. SSY today announced that its
subsidiary, Central Alabama Medical Associates, LLC (CAMA), has entered into
an option agreement with the Chilton County (AL) Hospital Board (Board) under
which the Board has the option for 90 days to acquire CAMA's real and personal
property relating to Chilton Medical Center in Clanton, AL, for $1,500,000.
CAMA currently leases the Chilton property to a third party hospital operator
who is in default under the CAMA lease and the hospital license held by the
third party operator was suspended by the Alabama Department of Public Health
effective on October 29, 2012. The Board and CAMA applied jointly for a
receiver to take over the operations of the third party operator and, if
successful, the Board intends to submit plans and applications to re-open the
hospital. If the Board is able to re-establish the hospital's operations to
their satisfaction, it has indicated it intends to exercise the option to
acquire the property from CAMA. However, there can be no assurance the
hospital will be re-opened or that the option will be exercised.
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