- Skylight Health (SHG) is acquiring three U.S primary care practices with over C$10 million in revenue and positive EBITDA
- The transactions will be completed with a mixture of cash, debt, and shares
- Skylight Health’s forecasted annual revenue run rate will rise to C$56 million post acquisitions
- Skylight Health Group is a healthcare services and technology company working to positively impact patient health outcomes
- Skylight Health (SHG) is down 4.96 per cent and is currently trading at C$1.34 per share
Skylight Health (SHG) is acquiring three U.S primary care practices with over C$10 million in revenue and positive EBITDA.
For confidentiality reasons, the names and locations of the practices will remain undisclosed until the closing of the transactions in early Q2 2021.
The transactions will be completed with a mixture of cash, debt, and shares.
The company is targeting a closing price of between 4–5x EBITDA with an average purchase price for the combined assets that’s below 1x revenue. Post-closing, the company expects to have over C$7 million in cash on hand.
Skylight Health’s forecasted annual revenue run rate will be over C$56 million after closing of all announced transactions.
Prad Sekar, Co-Founder and CEO of Skylight Health, commented,
“These types of transactions are an effective way to increase market penetration and continue to be one of the core strategies to augment our growth. We continue to be extremely disciplined about the acquisitions we pursue and focus on achieving favourable pricing and optimal accretion.”
Skylight Health Group is a healthcare services and technology company working to positively impact patient health outcomes. The company operates a U.S. 16-state health network comprised of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing.
Skylight Health (SHG) is down 4.96 per cent and is currently trading at C$1.34 per share as of 11:22 am EST.
