Skylight Health Group (TSXV: SLHG) (NASDAQ: SLHG) this morning continued its strategy of growth by acquisition. The company has now acquired a primary care group based in Florida, referred to as Doctors Center Inc.
The primary care group currently operates for health clinics in the Jacksonville region, bringing the total Skylight network to 23 locations across five states. The firm reportedly has a patient base of 6,000 individuals, with 2020 unaudited revenues of roughly $3.2 million and EBITDA margins in the area of 10%.
Revenue is generated via a fee for service model with payors and health plans currently, with Skylight indicating that it will work to support providers with improved and aligned contracts with health payors. The company is also looking to grow its patient base, something which is claims it will do via its proprietary management platform and tech enabled tools.
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Financial details of the transaction were not released.
Skylight Health Group last traded at $4.95 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. 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.
