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Source: Kovo HealthTech
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  • Kovo HealthTech (KOVO) has completed its acquisition of The Cvikota Company, Inc.
  • Cvikota recorded Trailing Twelve Month (TTM) revenues of approximately US$3 million with EBITDA of approximately 20 per cent
  • Kovo HealthTech Corporation, through a wholly-owned subsidiary, purchased substantially all of the assets of Cvikota
  • Kovo paid a cash consideration of approximately US$1,375,000 million
  • Kovo HealthTech Corporation is a healthcare technology company
  • Kovo HealthTech Corporation (KOVO) opened trading at C$0.50 per share

Kovo HealthTech (KOVO) has completed its acquisition of The Cvikota Company, Inc.

Cvikota recorded Trailing Twelve Month (TTM) revenues of approximately US$3 million with EBITDA of approximately 20 per cent.

Kovo CEO Greg Noble commented on the acquisition.

“The Cvikota Company is a trusted name with long-standing clients, a great team and a 50 year legacy of providing SaaS-style billing services for physicians, health providers and healthcare clinics across the United States. For Kovo and our shareholders, this acquisition delivers significant accretive revenue, with minimal dilution.”

We’re excited to work together with Curt Cvikota and his team to phase in Kovo’s proprietary OneRev technology platform which offers improved efficiencies and our industry-leading sub 30 days cash conversion cycle to allow clients to focus on offering quality patient care,” explains Noble.

Under the terms of the Agreement, Kovo HealthTech Corporation, through a wholly-owned subsidiary, purchased substantially all of the assets of Cvikota, including associated trademarks, trade names, brand names goodwill, intellectual property, customer lists and customer contracts.

Kovo paid a cash consideration of approximately US$1,375,000 million, along with a promissory note in the amount of $687,500.

Kovo HealthTech Corporation is a growing healthcare technology company that specializes in Billing-as-a-Service offering SaaS-style recurring revenue contracts and software for US healthcare clinics, hospitals and private practices.

Kovo HealthTech Corporation (KOVO) opened trading at C$0.50 per share.

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