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  • Nova Leap Health Corp. (NLH) signs a definitive agreement to support expansion to Southeastern U.S.
  • The target reported unaudited annualized 2021 year-to-date revenues of approximately U$1.788 million
  • Total consideration for the acquisition is $550,000 of which $475,000 is payable with cash on closing and $75,000 by way of a promissory note
  • Closing of the acquisition is subject to final due diligence, lender approval and state licensing
  • Nova Leap is an acquisitive home health care services company
  • Nova Leap Health Corp. (NLH) is up 1.59 per cent, trading at C$0.64 at 12:29 pm ET

Nova Leap Health Corp. (NLH) has signed a definitive agreement to acquire a home care services company located in U.S. Southeastern region.

All amounts quoted are in US dollars unless otherwise specified.

The target reported unaudited annualized 2021 year-to-date revenues of approximately $1.788 million and EBITDA of $96,000.

Under the terms of the agreement, the acquisition is to be made for total consideration of $550,000 of which $475,000 is payable with cash on closing and $75,000 by way of a promissory note repayable over a two-year period.

Closing of the acquisition is subject to final due diligence, lender approval and state licensing.

“We’re pleased to announce our expansion to the Southeastern U.S.,” said Chris Dobbin, President & CEO of Nova Leap.

“We’re excited to work with a great team in the Southeast and look forward to further opportunities in the region.”

Nova Leap is an acquisitive home health care services company operating in one of the fastest-growing industries in the U.S. & Canada.

The company performs a vital role within the continuum of care with an individual and family-centred focus, particularly those requiring dementia care. Nova Leap achieved the number 42 and number 2 ranking respectively on the 2021 and 2020 Report on Business ranking of Canada’s Top Growing Companies and the #10 Ranking in the 2019 TSX Venture 50™ in the Clean Technology & Life Sciences sector. 

Nova Leap Health Corp. (NLH) is up 1.59 per cent, trading at C$0.64 at 12:29 pm ET.

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