Nova Leap Health Corp. Announces Execution of Definitive Agreement to Acquire Home Care Business in South Central U.S.
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HALIFAX, Nova Scotia, Sept. 08, 2020 (GLOBE NEWSWIRE) — NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), a 2019 TSX Venture 50™ ranked company focused on the home health care industry, is pleased to announce that it has executed a definitive agreement (the “Agreement”), dated September 4, 2020, to acquire a home care services company (“the Target”) located in the South Central region of the United States. The Target reported unaudited revenues of approximately $1.032 million and EBITDA of approximately $66,000 for the year ended December 31, 2019. All amounts are in United States Dollars (“USD”) unless otherwise specified.
Under the terms of the Agreement, the acquisition is to be made for total consideration of $250,000 of which $200,000 is payable with cash on closing and $50,000 is by way of a promissory