- LevelJump Healthcare Corp. (JUMP) has closed the acquisition of three Ontario-based independent health facilities
- The acquisition was structured as an all-cash purchase of $4.3M financed through a $3.2M term loan from the TD bank and cash on hand
- Two of the clinics have been in business for over twenty years and have established relationships within their community
- LevelJump Healthcare is a healthcare company with a focus on profitable telehealth solutions as well as primary care services in radiology
- Shares in LevelJump Healthcare Corp. (JUMP) are down 5 per cent on the day, trading at C$0.095 per share at 12:30 pm EST
LevelJump Healthcare Corp. (JUMP) has acquired three Ontario-based independent health facilities (IHFs).
The acquisition was structured as an all-cash purchase of $4.3M. Funding was provided through a combination of a $3.2M term loan from the TD bank and cash on hand.
As of December 31, 2021, the acquired IHFs reported combined revenue of $1,350,000 with an EBITDA of over $400,000.
The vendor will provide transitional support services to LevelJump for a period of 30 days following closing.
Two of the clinics have been in business for over twenty years and have established relationships within their community. The third IHF clinic has been in business for only a few years and is the only IHF in its community.
“As we have stated previously, this transaction represents a significant milestone for the company as it shows our execution on the next phase of our business plan of growth through acquisitions of businesses with strong revenue and cash flow,” said Mitch Geisler, CEO.
“We are very excited to be able to add both the capacity and revenue from these IHFs to our operations.”
LevelJump Healthcare is a healthcare company with a focus on profitable telehealth solutions as well as primary care services in radiology. The company provides radiology solutions for hospitals, emergency rooms, and private clinics.
Shares in LevelJump Healthcare Corp. (JUMP) are down 5 per cent on the day, trading at C$0.095 per share at 12:30 pm EST.
