- Skylight Health Group Inc (SHG) has completed the deal to acquire Rocky Mountain Health Care
- Skylight Health Group has agreed to pay a total of C$13,518,092 in cash to acquire the full assets of Rocky Mountain
- The Rocky Mountain leadership team and clinical staff will remain in place
- Skylight Health Group (SHG) is a healthcare services and technology company
- Skylight Health Group Inc (SHG) opened trading at C$1.29 per share
Skylight Health Group Inc (SHG) has completed the deal to acquire Rocky Mountain Health Care clinics in Colorado (“Rocky Mountain Group”).
Acquisition highlights:
- Rocky Mountain Group has 7 clinics in the Denver and Boulder areas
- Skylight Health expects the annual revenue run rate to be C$56M pending the closing of all announced acquisitions
“I am pleased that Skylight Health has successfully closed on this exciting acquisition,” says Prad Sekar, Co-Founder and CEO of Skylight Health.
“Not only does it add immediate incremental revenue and strengthen market share within Colorado, but it also builds upon the infrastructure to support Skylight’s national network of clinics and continued growth.
We have spent the first quarter of 2021 strengthening our leadership team with strategic hires that bolster our efforts as we grow aggressively – both organically and through acquisition – for the remainder of the year.”
Rocky Mountain Group has been operating an established and fast-growing network of primary care clinics throughout Colorado.
Rocky Mountain Group has built a sustainable and scalable corporate infrastructure including in-house revenue cycle management, credentialing, centralized scheduling, compliance, and medical leadership.
The Rocky Mountain leadership team and clinical staff will remain in place post-acquisition.
Skylight Health Group has agreed to pay a total of C$13,518,092 in cash to acquire the full assets of Rocky Mountain. The company will hold back approximately 20% of the cash payment to be paid in installments and potential working capital adjustments over the next 2 years.
Skylight Health Group (SHG) is a healthcare services and technology company. Skylight Health operates a US multi-state health network of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing.
Rocky Mountain Group has been providing quality health care services to the Denver metropolitan community since 2002. They have six locations throughout Denver and employ over 200 experienced and qualified team members.
Skylight Health Group Inc (SHG) opened trading at C$1.29 per share.
