Assisted 4 Living, Inc. Announces 2021 Q2 Financial Results

Rhea-AI Summary

Assisted 4 Living, Inc. (OTC: ASSF) reported Q2 revenues of $6.1 million, with year-to-date revenues at $6.7 million as of June 30, 2021. The company recently acquired Trillium Healthcare Group, which generated $109 million in FY 2020. Additionally, A4L is expanding its Banyan Pediatric Care Centers division with new locations in Florida. The company aims for growth through acquisitions and organic expansion, focusing on post-acute care for all ages.

Positive

• Q2 revenues of $6.1 million and year-to-date revenues of $6.7 million.
• Acquisition of Trillium Healthcare Group, generating $109 million in FY 2020.
• Expansion of Banyan Pediatric Care Centers with new Florida locations.

Negative

• None.

BRADENTON, Fla., Aug. 26, 2021 /PRNewswire/ -- Assisted 4 Living, Inc. (OTC: ASSF) ("A4L") announced results for the quarter ended June 30, 2021. The fast-growing health care company posted second-quarter revenues of $6.1 million, and year-to-date revenues of $6.7 million.

A4L is moving quickly to grow in its industry niche — providing post-acute care for people of all ages:

• On June 10, 2021, the Company closed on its acquisition of Trillium Healthcare Group ("Trillium"), a dedicated post-acute healthcare company that provides multiple services, including rehabilitation, skilled nursing care, assisted living and independent living programs across 26 facilities in Iowa, Nebraska, Florida, and Georgia. Prior to the acquisition by A4L, Trillium reported annual revenues of $109 million for FY 2020 and $25 million in the first quarter of 2021.
  
  
• The Company is also expanding its Banyan Pediatric Care Centers ("Banyan") division, which provides prescribed pediatric extended care (PPEC) for medically fragile and chronically ill children from birth to 21 years. Banyan has opened its second and third Florida locations, Sarasota (opened May 2021), and New Port Richey (opened July 2021), joining its flagship center in St. Petersburg.
  
  
• A4L is also looking at a number of other potential acquisitions of facilities in the post-acute industry niche, with the long-term goal of expanding its operations into multiple states over time.

"We are focused on providing quality care through our Trillium and Banyan facilities, while taking opportunities to grow in both specialties," said Louis Collier, an accomplished healthcare executive who joined A4L as Chief Executive Officer in March 2021. "At the same time, we are building a team with deep knowledge, while creating systems and efficiencies that will serve us well for the long haul."

In addition to growing its management team with the addition of Collier, the Company is building a high-quality Board of Directors with a focus on bringing on veteran industry professionals. Among the Company's new Board members is Dr. Amish Patel, chief executive officer of Integrated Rehab Consultants, LLC, the nation's largest group of physical and medical rehab specialists within skilled settings.

About Assisted 4 Living, Inc.
Assisted 4 Living, Inc. (OTC: ASSF) is a diversified healthcare company providing post-acute care for pediatrics and seniors through three separate and distinct operating divisions. Wholly owned subsidiary Trillium Healthcare-OPS, LLC provides medically necessary services of licensed nurses, physical and occupational therapists, and speech pathologists within the skilled nursing arena. Wholly owned subsidiary Banyan Pediatric Centers-OPS, LLC is a PPEC (Prescribed Pediatric Extended Care), providing nurse-staffed pediatric day care centers for young people from birth to 21 years old with medical conditions that require ongoing specialized care. Real Living Property Holdings, LLC is the real estate holding company into which all real estate will be housed. Assisted 4 Living's growth plan is primarily through an acquisition strategy for the seniors division and organic growth for the pediatric division.

Forward-Looking Statements
This news release may contain forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. Words such as "expects," "intends," "plans," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. Therefore, you should not rely on any of these forward-looking statements. The forward-looking statements are made only as of the date of this news release, and except as otherwise required by law, we have no obligation to update or revise such statements to reflect subsequent events or circumstances.

Contact:
Kyle Parks
727-895-5030 ext. 101 (o)
813-352-1325 (c)
kyle@b2communications.com

 

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SOURCE Assisted 4 Living

FAQ

What were the Q2 financial results for Assisted 4 Living (ASSF)?

Assisted 4 Living reported Q2 revenues of $6.1 million and year-to-date revenues of $6.7 million.

What strategic acquisition did ASSF complete recently?

ASSF closed the acquisition of Trillium Healthcare Group, which reported $109 million in annual revenues for FY 2020.

How is ASSF expanding its operations?

ASSF is expanding its Banyan Pediatric Care Centers division, opening new locations in Florida.