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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