To Acquire Three Ontario Diagnostic Imaging Clinics Toronto, Ontario--(Newsfile Corp. - September 28, 2021) - Leveljump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) ("Leveljump" or the "Company"), a Canadian leader in B2B telehealth solutions, is pleased to announce that it has signed definitive agreements to acquire three diagnostic imaging clinics, also known as independent healthcare facilities, ("IHFs"), from a private Ontario vendor.
The purchase price is an all-cash deal of $4.3 million of which $250,000 has been paid as a deposit. The transaction is targeted to close in the first half of December and is subject to a number of conditions, including but not limited to, required regulatory approval, satisfactory due diligence and securing an institutional credit facility to fund the balance of the purchase price. In the event the transaction does not close, the deposit will be refunded to the Company less a $25,000 break fee payable to the vendor.
Through a total of nine modality imaging licenses, these IHFs offer medical imaging including x-ray, ultrasound, and mammography scans. Two of the IHFs have serviced their regions for 15 and 20 years respectively. The third IHF was opened within the last two years and presents a growth opportunity in an underserviced community. The IHFs are all located in Ontario.
Combined, the two mature IHF's are currently reporting revenue of approximately $1.4 million with EBITDA of over $400,000. The third IHF has revenues of approximately $200,000 and negative EBITDA of approximately $100,000.
"Today is a milestone for the company," said Mitch Geisler, CEO. "We are now executing on the next phase of our business plan with the acquisition of these three imaging clinics. We will be increasing the revenues of our subsidiary Canadian Teleradiology Services to approximately $8 million annually with approximately $1 million in EBITDA. We look forward to increasing patient scan volumes and expanding the new clinics. Additionally, we will hope to have synergies and cost efficiencies with our current operations, allowing for increased profitability."
About Leveljump Healthcare
Leveljump Healthcare Corp., (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) is building a national medical diagnostic imaging company and brand, primarily by providing teleradiology (remote radiology) services to its client hospitals and imaging centers. Additionally, JUMP plans to expand through the acquisition of independent healthcare facilities focused on diagnostic imaging as well as acquiring new disruptive imaging technologies.
https://www.newsfilecorp.com/release/97859/Leveljump-to-Acquire-Three-Ontario-Diagnostic-Imaging-Clinics