- Skylight Health Group (SLHG) enters new state acquiring Pennsylvania Clinic Group Aspire Health Concepts
- It expects to enroll the eligible Medicare lives in its first value-based care performance year of 2022
- It expects incremental annualized revenue of over US$2.5 million with 8 per cent EBITDA
- Immediately accretive acquisition strengthens its growing primary care patient base, increases national footprint, and adds 14 providers to Skylight Health
- Skylight Health Group Inc. (SLHG) is down 3.93 per cent and is trading at C$3.91 at 2:15 pm ET
Skylight Health Group Inc. (SLHG) executes the definitive agreements to acquire a controlling interest in Aspire Health Concepts, Inc., a primary care group in Pennsylvania with 2 locations.
The acquisition expands its primary care services into a new state and grows its patient base by over 10 thousand per year.
Aspire has been operating a multi-disciplinary network of clinics for over 12 years in Harrisburg, PA. Skylight will immediately take over the primary and urgent care components of the business.
The acquisition is immediately accretive to Skylight as it expands its market share into a new state with an established patient base. Skylight expects full continuity of the Aspire leadership and clinical teams post-acquisition.
Prad Sekar, CEO of, Skylight said “This is a very exciting acquisition for us. Skylight enters a new market with a clinic group that is well established and well regarded, at a time when growth in the primary care sector is strong and patients are seeking a higher level of care.”
“As we continue to integrate our growing number of clinics across the US, the Aspire acquisition is certainly an excellent fit to the Skylight family,” added Sekar.
“We’ve spent the last 12 years building strong relationships with our patients in eastern Pennsylvania, and we’re proud and excited to align ourselves with Skylight as we now transition our patients to an even more comprehensive healthcare model,” said Dr. David A. White, MD. and Dr. Richard Rayner, MD., Founders of Aspire.
“We fully support the Skylight executive and leadership team, and believe that with their centralized services and technology, they have the tools and vision for us to take this business to the next level,” concluded Dr. White and Dr. Rayner.
Skylight has acquired a controlling interest of 70 per cent of Aspire. The remaining 30 per cent of Aspire will be retained by the two Founding physicians subject to Skylight’s call option that matures on the five-year anniversary of the closing.
It expects this structure will enhance alignment between Skylight and the Founding physicians. The Company expects to close this transaction no later than September 17th.
Skylight Health Group is a healthcare services and technology company, working to positively impact patient health outcomes.
It operates a US multi-state primary care health network comprised of physical practices providing a range of services from primary care, sub-specialty, allied health, and laboratory/diagnostic testing.
Skylight Health Group Inc. (SLHG) is down 3.93 per cent and is trading at C$3.91 at 2:15 pm ET.
