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Skylight Health Group (NASDAQ: SLHG; TSXV: SLHG) announced the acquisition of Doctors Center Inc., a primary care group in Jacksonville, Florida, adding four clinical locations to its network. This acquisition expands Skylight's patient count by 6,000 lives, enhancing its value-based care offerings. In 2020, Doctors Center reported unaudited revenues of approximately CAD $3.2 million with a 10% expected EBITDA margin. The move aims to strengthen Skylight's presence in Northeast Florida and is part of its strategy to enhance managed care programs.
Skylight Health Group Inc. (TSXV:SHG; OTCQX:SHGFF) announced its listing on the Nasdaq Capital Market under the ticker symbol 'SLHG' starting June 7, 2021. This strategic move aims to enhance access to investment opportunities for retail and institutional investors while improving liquidity for its common shares. The company operates a multi-state primary care network in the U.S., focusing on transitioning to a value-based care model, which emphasizes quality over volume in healthcare delivery.
Skylight Health has been selected as a clinical site for a Phase 2/3 trial evaluating ADG20, a monoclonal antibody, aimed at preventing symptomatic COVID-19. This grant-supported trial, to be conducted in Massachusetts, will enroll both existing patients and individuals from the general population. The trial, involving around 100 international sites, aims to assess ADG20's efficacy and safety in high-risk post- and pre-exposure cohorts. This milestone represents a new revenue opportunity for Skylight, enhancing its position in the healthcare sector amid ongoing COVID-19 challenges.
Skylight Health Group reported a 76% increase in revenue year-over-year for Q1 2021, reaching $5.2 million, and a 62% sequential growth from Q4 2020. Gross profit margin improved to 69% compared to 65% last year. The company closed two acquisitions, Apex and RCMA, contributing to growth. Despite a net loss of $2.7 million, adjusted EBITDA improved by 35% over the prior quarter. With a cash balance of $15.3 million, Skylight is positioned for future growth, focusing on acquiring primary care practices and transitioning to value-based care models.
Skylight Health Group Inc. announced the upcoming trading of its common shares on the Nasdaq Capital Market under the symbol SLHG, starting the week of June 7, 2021. This follows their share consolidation effective May 28, 2021. The company will maintain its listing on TSX Venture Exchange as SHG and continue trading on OTCQX as SHGFF. Skylight Health operates a multi-state primary care network, focusing on transitioning from fee-for-service to value-based care, enhancing patient outcomes and financial performance.
Skylight Health Group (SHGFF) will release its Q1 2021 financial results on May 31, 2021, followed by a conference call on June 1, 2021, at 9:00 AM EDT. The call aims to discuss the financial outcomes and operational updates. The company also announced the issuance of 253,572 shares related to the River City Acquisition, which will be restricted from trading for over four months. Skylight Health operates a US-based multi-state health network offering a range of healthcare services, including a subscription-based telemedicine service.
Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) has received conditional approval from Nasdaq to list its common shares, pending fulfillment of final requirements. This milestone is expected to enhance visibility, improve liquidity, and broaden the shareholder base, contributing to long-term shareholder value. The company also announced a change in auditors from Grant Thornton LLP to PricewaterhouseCoopers LLP, effective May 4, 2021. Skylight operates a multi-state health network focused on providing comprehensive healthcare services, including telemedicine.
Skylight Health Group reported fourth quarter revenues of $3.2 million, up from $3.1 million in Q4 2019, attributed to newly acquired clinics. Full-year revenues dipped to $13.1 million from $13.4 million in 2019, impacted by COVID-19 and regulatory changes in New Jersey. The company achieved a net loss improvement to $9.4 million, down from $11 million in 2019. In 2021, Skylight Health anticipates revenues of $40 million. With a strong cash position of $20 million, the company continues to expand through acquisitions.
Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) announced leadership changes to enhance its operations. Paul Kulas has been promoted to Chief Operating Officer, while Jennifer Brooks and Lynda Mikalauskas join as Directors in Payor Contracting and Quality & Patient Safety, respectively. These appointments aim to improve key performance indicators and patient safety while enhancing profitability. Skylight Health operates a multi-state healthcare network and serves over 155,000 patients across 16 states, focusing on telemedicine and traditional fee-for-service models.
Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) has partnered with ClinEdge to integrate clinical research into primary care practices in Massachusetts. This collaboration aims to enhance patient access to clinical trials, spanning various indications such as diabetes and COVID-19, starting with Skylight's clinics in Massachusetts. The partnership leverages ClinEdge's expertise to facilitate research trials, potentially benefiting patients and generating revenue for Skylight Health. This initiative aligns with Skylight's mission to improve healthcare outcomes and expand its research capabilities across the US.
