Skylight Health Acquires Colorado Based Primary Care Clinic Group

Skylight Health (TSXV: SHG) this morning announced the closing of the acquisition of Rocky Mountain Health Care, a primary care provider in the state of Colorado. The acquisition sees Skylight bring seven additional primary and urgent care centres into its portfolio, with centres in both Boulder and Denver.

The firm was reportedly acquired for a total price of $13.5 million in the form of cash, with 20% of that figure held back to be paid in installments over the next two years. When originally announced, the firm was to be acquired for $14.3 million, which was effectively a 4.7x EBITDA multiple for the firms unaudited 2020 revenues. The transaction was also to originally include a three year sellers note for 60% of the transaction, however that appears to have since changed.

While Skylight did not reiterate the expected run rate from the transaction independently, the company did indicate that it expects its annual revenue run rate to amount to $56 million, which is pending the closing of all announced acquisitions to date.

Skylight Health last traded at $1.29 on the TSX Venture.


Information for this briefing was found via Sedar and Skylight Health Group. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Skylight Health Looks To Raise Funds Via Preferred Share Yielding 9.25% Annually

Skylight Health (TSXV: SLHG) is evidently running out of funding options that the market will...

Thursday, November 11, 2021, 09:10:31 AM

Skylight Health Posts 2020 Revenues Of $13.1 Million, Net Loss Of $9.5 Million

Skylight Health Group (TSXV: SHG) this morning reported its fourth quarter and full year 2020...

Tuesday, April 20, 2021, 07:59:45 AM

Skylight Health To Wind Down What Little Remains Of Operations After Foreclosure

After seeing its lenders foreclosure on certain of its US operations, Skylight Health (TSXV: SLHG)...

Thursday, August 31, 2023, 09:49:34 AM

Skylight Health Sees All Assets Foreclosed On

The end of the line has finally come for Skylight Health (TSXV: SLHG), who announced...

Thursday, July 20, 2023, 08:46:06 AM

Skylight Health Sees Minimal Interest For Preferred Shares, Offering Pegged At Just US$5.8 Million

It appears that there is little interest for Skylight Health’s (TSXV: SLHG) previously proposed offering...

Thursday, December 2, 2021, 08:41:34 AM