LevelJump Healthcare Corp. Announces the Acquisition of Four Diagnostic Imaging Clinics
- LevelJump Healthcare Corp. has successfully expanded its services nationwide and doubled its IHF footprint. The acquisition of four IHFs in Alberta will contribute to the company's revenue and increase its value to shareholders.
- None.
Toronto, Ontario--(Newsfile Corp. - October 11, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) ("LevelJump" or the "Company"), a Canadian leader in B2B telehealth solutions, is very pleased to announce that, further to its news release dated September 14, 2023, it has closed the acquisition of four Alberta-based independent health facilities ("IHFs").
Located in Calgary, Alberta and its surrounding areas, these IHFs provide a multitude of services, including x-ray and ultrasound, as well as the opportunity to expand to fluoroscopy and bone mineral density scans. The IHFs are currently generating just under
This acquisition marks a significant expansion of the Company's footprint, bringing the total number of IHF clinics owned by the Company to eight, with seven currently operational and one in the construction phase and expected to open in January 2024.
The purchase price of
Funding was provided through a combination of a term loan from the TD bank of
The TD Loan is secured through a general security agreement (a "GSA") over all of the assets of CTS and the newly acquired IHF's as well as corporate guarantees and GSA's provided by the IHF's over their operating assets. LevelJump is also providing a limited recourse guarantee which is only realizable to the extent of any deficiency in the event of a sale of CTS.
Final consent of the TSX Venture Exchange to this acquisition has been granted.
Management is actively developing and implementing a business strategy designed to increase patient volumes at both the new acquired and previously owned IHF clinics. The Company plans to achieve this through the execution of marketing initiatives with the objective of boosting revenue and establishing JUMP as a frontrunner in the field of critical care services.
"This transaction signifies a major milestone for JUMP, as we have successfully expanded our services nationwide and doubled our IHF footprint," said Mitch Geisler, CEO. "Our immediate focus is to further develop both our new and existing services, with a dual purpose: to deliver increased value to our shareholders and to ensure critical care is readily accessible to all Canadians."
About LevelJump Healthcare
LevelJump Healthcare Corp., (TSXV: JUMP) provides telehealth solutions to client hospitals and imaging centers through its Teleradiology division, as well as in person radiology services through its IHF's (Independent Healthcare Facilities). JUMP focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities we serve.
ON BEHALF OF THE BOARD OF DIRECTORS OF
LEVELJUMP HEALTHCARE CORP.
Mitchell Geisler
Chief Executive Officer
Caitlin-Robyn Densmore
Investor Relations Manager
Caitlin.Densmore@leveljumphealthcare.com
(437) 214-1568
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183575
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