SSY Stock Price Increases Over 100% Pre-Market: Why It Happened

By Amit Chowdhry ● Mar 16, 2021
  • The stock price of SunLink Health Systems, Inc. (NYSEAMERICAN: SSY) has increased by over 100% pre-market. This is why it happened.

The stock price of SunLink Health Systems, Inc. (NYSEAMERICAN: SSY) has increased by over 100% pre-market. Investors are responding to SunLink Health Systems, Inc. (NYSE American: SSY) announcing yesterday afternoon that its wholly-owned subsidiary Trace Regional Hospital has implemented its Trace Forward Capital Plan totaling approximately $2 million to expand, upgrade and improve its physical plant, patient care, ancillary services and support areas. 

The Trace Forward Capital Plan includes an 8-bed expansion of its Pathways Care Program – a geriatric behavioral health service – which will bring Pathways to 26 total beds. And the Plan also features modernized, acute care patient rooms with renovated support areas, a complete hospital-wide replacement and upgrade of its heating and air conditioning systems, replacement of a substantial portion of the building roof, enhanced Women’s services equipment, new diagnostic equipment, additional information technology equipment and improved IT security services. In connection with the improvements, Trace has recently added new ultrasound equipment and expanded telemedicine services to augment its existing digital mammography capabilities.

Trace Regional Hospital is an 84-bed licensed acute care hospital – which includes the 18-bed Pathways Care Program and Floy Dyer Nursing Home, a 66-bed skilled nursing facility. And Trace, Pathways and Floy Dyer are located in Houston, Mississippi, and focus primarily on senior healthcare services.

KEY QUOTES:

“The expansion and upgrade of our Pathways Care Program will allow us to meet the growing demand for quality senior behavioral services as well as acute care hospital services in our northeast Mississippi service area.”

— Marianne Johnson, Trace COO/CNO and executive in charge of the Pathways Care Program

“Our major capital expenditures are being undertaken in a manner that minimizes disruption in our medical center services and are expected to be completed by June 30, 2021. They are being paid out of Trace’s cash on hand and reflect our commitment to the quality of and access to healthcare services in the Houston community and Chickasaw County, and our confidence in the growth potential of the northeast Mississippi area. We wish to thank our elected Mississippi and Federal officials and staff for making these investments possible under various provisions of the CARES Act, which are funding a portion of the Trace Forward Capital Plan, and for prioritizing quality and access to care for the citizens of the Houston and Chickasaw County area during this uncertain and potentially disastrous period of the COVID-19 pandemic.”

— Sheila Brockman, Trace CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.