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Skylight Health Group has signed a definitive agreement to acquire NeighborMD (NMD) for US $8 million in cash, which will significantly increase its revenue. With this acquisition, Skylight will integrate 9 practices across Florida, serving over 5,000 lives and boasting a primary care revenue of US $35 million. The company has also secured a US $20 million debt facility to fund the acquisition and future growth initiatives. This move is expected to enhance Skylight's presence in the Medicare Advantage market, potentially doubling its revenue run rate.
Skylight Health Group (NASDAQ:SLHG; TSXV:SLHG) announced its participation in 10 clinical studies since launching its research program, Skylight Health Research. In total, it has completed two studies and expects to quadruple its revenue from clinical studies, surpassing $300,000 earned in 2021. The company's research initiatives span significant medical areas, including COVID-19 and cancer detection. With over 1,000 patients enrolled and momentum building, Skylight aims to enhance healthcare through research and value-based care.
Skylight Health Group (NASDAQ: SLHG; SLHGP) has declared a monthly dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares. The dividend will be payable on May 20, 2022, to shareholders of record as of April 29, 2022. Skylight Health operates a multi-state primary care health network in the U.S., focusing on transitioning practices from traditional fee-for-service to a value-based care model, improving patient outcomes and financial performance.
Skylight Health Group (NASDAQ:SLHG; TSXV:SLHG) has partnered with Collaborative Health Systems (CHS) to enhance value-based care (VBC) services in its primary care operations across multiple states, including Colorado and Florida. This joint venture aims to establish a VBC framework that includes payor contracting and population health management. Skylight expects to fast-track its entry into value-based contracts by 24 months, leveraging CHS’s extensive experience in healthcare cost savings. This collaboration is projected to improve clinical outcomes and patient satisfaction.
Skylight Health Group reported a remarkable 3,842% year-over-year revenue growth to $27.2 million for the year ended December 31, 2021, compared to $0.7 million in 2020, despite a net loss of $22.2 million. The company's gross profit reached $15.1 million, with a 56% gross margin. However, an adjusted EBITDA loss of $14.6 million reflects substantial one-time expenses. The firm aims for continued growth through acquisitions and technological integration, emphasizing a shift towards value-based care. Operational challenges are acknowledged, but optimism for strategic initiatives persists.
Skylight Health Group (NASDAQ:SLHG; TSXV:SLHG) announced its fourth quarter 2021 financial results will be released after market close on March 30, 2022. A conference call to discuss these results is scheduled for March 31, 2022, at 8:00 AM EDT. The company focuses on transitioning independent healthcare practices from a fee-for-service to a value-based care model, aiming to enhance patient outcomes and reduce healthcare costs.
On March 18, 2022, Skylight Health Group announced a dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares (SLHGP). This cash dividend is scheduled for payment on April 20, 2022, to shareholders recorded as of March 31, 2022. Skylight Health operates a multi-state primary care health network, aiming to transition independent practices to a value-based care model, enhancing patient health outcomes while maintaining financial performance.
Skylight Health Group (NASDAQ: SLHG; SLHGP) has declared a cash dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares, payable on March 21, 2022. Shareholders of record as of February 28, 2022 will receive this payment. Additionally, the company announced the issuance of 317,759 shares related to its acquisition of River City Medical Associates, pending regulatory approval and subject to a hold period.
Skylight Health Group (NASDAQ: SLHG; SLHGP) has declared a cash dividend of $0.1927 per share on its 9.25% Series A Preferred Shares, payable on February 21, 2022. This dividend payment will go to shareholders recorded by January 31, 2022. Skylight operates a multi-state primary care network in the U.S., focusing on transitioning practices from fee-for-service to value-based care, aiming to enhance patient outcomes and financial performance.
Skylight Health Group (NASDAQ: SLHG; SLHGP) has announced a dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares. The dividend is payable in cash on January 20, 2022, for shareholders on record as of December 31, 2021. This dividend declaration reflects the company's commitment to delivering value to its investors while transitioning to a value-based care model aimed at improving patient outcomes and financial performance.
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