Business
Nova Leap Health Corp. announces Closing of Strategic Acquisition in Nova Scotia
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES HALIF...
About this update from Nova Leap Health Corp.
[{"type":"text","content":"Nova Leap Health Corp. announces Closing of Strategic Acquisition in Nova Scotia\nNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES HALIFAX, Nova Scotia, May 01, 2026 (GLOBE NEWSWIRE) -- NOVA LEAP HEALTH CORP. (TSXV: NLH) (\"Nova Leap\" or “the Company”), a growing provider of home-based and community care services in North America, is pleased to announce that its Canadian subsidiary, Earth Angels Home Care, has completed the acquisition of the shares of Parkwood Home Care Limited (“Parkwood”), an arm’s length company with operations in Nova Scotia (“the Transaction”). Parkwood reported unaudited revenues of approximately $3.8 million and adjusted EBITDA of approximately $785,000 for its 2025 fiscal year. All amounts are in Canadian Dollars (“CAD”) unless otherwise specified. Under the terms of the definitive agreement executed on May 1, 2026, the Transaction, which closed on May 1, 2026, was made for total consideration of $3,500,000, subject to closing adjustments, of which $3,200,000 was paid with cash on closing and $300,000 by way of a promissory note repayable over a three-year period. The cash on closing was funded by way of a $2,200,000 draw on the Company’s acquisition debt facility with its lender and by $1,000,000 of cash on hand. The new debt is repayable over a five-year term. Following the draw on the acquisition debt facility, the Company has access to up to USD$3,050,000 in remaining available credit to support its long-term growth strategy. No finder fees were paid in relation to the acquisition. “Our Nova Scotia operations were Nova Leap’s fastest growing geography and delivered record results in 2025”, said Chris Dobbin, President & CEO of Nova Leap. “The acquisition of Parkwood by Earth Angels represents a logical next step in building further density in a market we know well. It enhances our ability to scale efficiently, deepens our presence in the province and expands our role across the continuum of care, positioning our Nova Scotia platform for sustained growth. We’re very much looking forward to working with the Parkwood team.” About Nova LeapNova Leap is a North American healthcare services company providing home-based and community-based care. T...