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SunLink Health Systems Acquires Carmichael 's Cashway Pharmacy PITTSBURGH , PA, April 28, 2008 -- SunLink Health Systems, Inc. (AMEX:SSY) announced that it has acquired Carmichael 's Cashway Pharmacy, Inc. With annual revenues of approximately $42.2 million, Carmichael's has been in business for over 30 years and is recognized as a leader in the provision of infusion therapy, specialty and institutional pharmacy services, enteral products, respiratory medications, medical equipment and retail pharmacy services to rural communities in southwest Louisiana and eastern Texas. The Braff Group initiated the transaction, conducted negotiations, and served as exclusive merger and acquisition advisor for Carmichael 's Cashway Pharmacy. Robert M. Thornton, Jr., CEO of SunLink, stated, “The Carmichael's acquisition complements and broadens the scope of our current rural hospitals, which include nursing home, home care and physician clinic businesses, to include infusion therapy, specialty and institutional pharmacy and related home care services and products in desirable rural markets. We expect the financial contributions from Carmichael 's to be accretive. “Our overall objective continues to be to enhance shareholder value by executing our existing business plan, including continuing to focus on strategic efforts for additional improvement in our existing hospital portfolio, completing and integrating the Carmichael's acquisition and pursuing additional acquisitions.” Chuck Gaetano, Managing Director for The Braff Group that led the transaction, commented, “Unlike many health care providers that focus predominately on one product line or service, Carmichael's developed a highly synergistic and diversified portfolio of products and services that meets the unique needs of the rural population that it serves. This made the company an ideal fit for SunLink as it pursues its strategy of providing broad based health care services to these oft, underserved populations.” About Sunlink About The Braff Group Contact:
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