Sunday, June 1, 2025

Latest

Skylight Health Announces $14.3 Million Acquisition Of Primary And Urgent Care Group

Skylight Health Group (TSXV: SHG) is starting the year off on a strong foot with the acquisition of a US based Healthcare Group that currently operates six primary and urgent care centres. The company this morning announced that it has entered a binding letter of intent to acquire the unnamed firm.

Several specifics were left out of the release with the promise that details will be released later, which includes the state that the firm operates within. While it is said to be in a state with existing Skylight Health states, the company did not elaborate further, likely as a result of the stage of discussions. Further details are indicated to be released before the end of the current quarter.

The company is described as being focused providing primary and urgent care for patients, while being credentialed with major insurance providers. Clinical staff includes physicians, nurse practitioners, and physician assistants. The firms leadership and clinical teams are expected to remain with the company post-acquisition.

The acquisition will see Skylight acquire the primary and urgent care clinic group wholly for $14.3 million, which is reportedly a 4.7x EBITDA multiple. The company in 2020 generated unaudited revenue of $20 million, while posting $3 million in EBITDA, making the acquisition immediately accretive by pushing Skylight’s revenue run rate to over $45 million, while its EBITDA run rate is stated as being $5.5 million as of the close of the transaction.

The $14.3 million being paid by Skylight is to include $5.7 million cash and a three year sellers note for the remaining 60% portion of the transaction. The note, pegged at $8.58 million, will carry 8% interest rate, and can be repaid at any time within the term without penalty. The transaction is anticipated to close by the end of the current quarter.

Skylight Health Group last traded at $1.40 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.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Skylight Health Acquires Colorado Based Primary Care Clinic Group

Skylight Health (TSXV: SHG) this morning announced the closing of the acquisition of Rocky Mountain...

Monday, April 5, 2021, 09:01:08 AM

Skylight Health Enters Florida Market With Closing Of Acquisition

Skylight Health Group (TSXV: SHG) this morning announced the closing of its acquisition of River...

Thursday, February 4, 2021, 08:11:59 AM

Skylight Health To Raise $12 Million Via Bought Deal Financing

Skylight Health Group (CSE: SHG) has announced a bought deal private placement as of this...

Friday, December 11, 2020, 08:30:20 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 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