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Skylight Health Completes Largest Acquisition to date and Enters Medicare Advantage Global Risk

Retrieved on: 
Friday, May 6, 2022
TSX Venture Exchange, U.S. Securities and Exchange Commission, Medicare, Neighbor, NASDAQ, GLOBE, Company, VBC, Contract, Time, FLC, Patient, Security (finance), MA, Acquisition, Leadership, Canadian Securities Administrators, NMD, Capitation fee, SOFR, CEO, FFS, Â, Entrepreneurship, Skylight, TTM, Humana, Health insurance

TORONTO, May 06, 2022 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (NASDAQ:SLHG; TSXV:SLHG) (“Skylight Health” or the “Company”), a multi-state primary care management group in the United States, is pleased to announce that further to its press release dated May 3, 2022, it has completed the deal to acquire NeighborMD (NMD) for $8 million and a debt facility of US $20 million.

Key Points: 
  • We are very pleased to close our largest acquisition to date and welcome the team at Neighbour MD into the Skylight Health Group, says Prad Sekar, CEO and Co-Founder of Skylight Health.
  • We are now strongly positioned with risk contracts to begin focusing on our pipeline within Florida that will present Medicare and MA growth.
  • The expected expansion of the risk contracts to existing Skylight practices in Florida represent a significant organic growth opportunity.
  • Skylight Health Group (NASDAQ:SLHG;TSXV:SLHG) is a healthcare services and technology company, working to positively impact patient health outcomes.

Skylight Health Executes Definitive Agreement to Acquire NeighborMD to Expand in Florida and Enters Medicare Advantage Global Risk

Retrieved on: 
Tuesday, May 3, 2022
Medicare, NASDAQ, GLOBE, Company, Contract, Time, MA, Knowledge, Leadership, NMD, Creditor, Capitation fee, SOFR, CEO, CHS, Growth, TTM, Risk, Acquisition, Health insurance, Risk management, Skylight, Humana

TORONTO, May 03, 2022 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (NASDAQ: SLHG; TSXV: SLHG) (“Skylight Health” or the “Company”), a multi-state primary care management group in the United States, today announces the execution of a definitive agreement to acquire NeighborMD (NMD) which will close concurrently with a debt facility of US $20 million that the Company has arranged with a New York-based lender.

Key Points: 
  • NeighborMD (NMD) will add 9 practices across Central and Southern Florida with over 2,400 owned and affiliated global capitated risk lives.
  • Based in central and southern Florida, NMD operates 9 owned practices offering primary care services to over 5,000 lives.
  • Within these, NMD has over 1,100 MA lives in full-risk contracts with two leading healthcare payors in Florida, Humana, and CarePlus.
  • The expected expansion of the risk contracts to existing Skylight practices in Florida represents a significant organic growth opportunity.