- Leveljump Healthcare (JUMP) is set to acquire three Ontario diagnostic imaging clinics from a private vendor
- The all-cash deal is valued at C$4.3 million
- Two clinics are currently reporting combined revenue of $1.4 million with EBITDA of over $400,000
- The third clinic has revenue of $200,000 and negative EBITDA of $100,000
- Leveljump Healthcare offers medical diagnostic imaging including teleradiology to client hospitals and imaging centers
- Leveljump Healthcare (JUMP) is down by 10.53 per cent and is currently trading at $0.17 per share
Leveljump Healthcare (JUMP) is set to acquire three Ontario diagnostic imaging clinics from a private vendor.
The all-cash deal is valued at C$4.3 million, of which $250,000 has been paid as a deposit.
The clinics offer x-ray, ultrasound and mammography scans through nine modality imaging licenses.
Two of the clinics have served their communities for 15 and 20 years, respectively, and are currently reporting combined revenue of $1.4 million with EBITDA of over $400,000.
The third clinic opened within the last two years in an underserved community and has revenue of $200,000 and negative EBITDA of $100,000.
The transaction is expected to close in the first half of December and is subject to securing an institutional credit facility to fund the purchase.
If the transaction does not close, Leveljump will pay the vendor a $25,000 break fee.
Mitch Geisler, Leveljump’s CEO, remarked,
“Today is a milestone for the company. We are now executing on the next phase of our business plan with the acquisition of these three imaging clinics. We will be increasing the revenue of our subsidiary, Canadian Teleradiology Services, to approximately $8 million annually with approximately $1 million in EBITDA.
We look forward to increasing patient scan volumes and expanding the new clinics. Additionally, we will hope to have synergies and cost efficiencies with our current operations, allowing for increased profitability.”
Leveljump Healthcare offers medical diagnostic imaging including teleradiology to client hospitals and imaging centers.
Leveljump Healthcare (JUMP) is down by 10.53 per cent and is currently trading at $0.17 per share as of 2:06 pm ET.
