Business
Skylight Health Provides 2020 Corporate Overview and 2021 Outlook
Skylight Health Provides 2020 Corporate Overview and 2021 Outlook.
About this update from Skylight Health Group Inc.
[{"type":"text","content":"\n Skylight Health is a US healthcare services and technology company providing multi-disciplinary care to over 135,000 patients across 15 statesIn 2020, the Company announced 5 new clinical acquisitions representing 4 new US markets, over 50,000 new patients and adds aggregate annualized revenue of approximately $13 million and EBITDA of $2.5 millionThe Company has validated its model of strategic clinical acquisitions at 3-7x EBITDA with aggressive plans for organic growth through existing primary care and sub-specialty servicesOver 2020, the Company completed 3 financings including 2 bought deals raising over $22 million with participation from over 11 institutions in Canada and the United States.The Company exits 2020 with no long-term debt and strong cash balance to execute towards a robust and growing acquisition pipeline.Skylight Health Received Conditional Approval of TSX Venture Listing and expects to commence trading in early January 2021 under the symbol “SHG.V”.In the US, the Company began trading under the new OTCQX Ticker “SHGFF” in December, upgrading from the OTCQB.  TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Skylight Health Group Inc (CSE:SHG; OTCQX:SHGFF) (“SHG” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, is pleased to provide shareholders with a 12-month overview of accelerating revenue and profitability in 2020. The US healthcare market represents a multi-trillion-dollar opportunity ripe for disruption. Skylight has a hybrid approach to healthcare delivery. In-clinic services to support patient needs where standards of care require the physical presence of a health care provider; and virtual telemedicine to support patients who may not need to travel or further expose themselves by receiving the same quality of care from the comfort of their home. With a multi-disciplinary approach, the Company brings primary care, sub-specialty, allied health & wellness and laboratory/diagnostic services under one roof. Skylight operates an organic growth strategy on the back of a growth-by acquisition model. Acquisitions are attractively priced between 3 to 7 times EBITDA or in some cases, less than 1 times revenue. The Company has already demonstrated its ability to target, qualify and acquire with over 5 transaction...