Nova Leap Health Corp. Completes Purchase of Oklahoma Home Care Business and Provides Corporate Update
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HALIFAX, Nova Scotia, Oct. 07, 2019 (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 completed the acquisition of the business assets of Around The Clock Home Care, LLC (“Around The Clock”) located in Chickasha, Oklahoma. The execution of the definitive agreement and related information pertaining to this acquisition was previously announced on September 16, 2019. All amounts are in United States dollars (“USD”) unless otherwise specified. “We are excited to welcome the Around the Clock team to our organization”, said Chris Dobbin, President & CEO of Nova Leap. “This is a meaningful investment in a new geographic area that we intend to expand upon.” Update on Massachusetts AcquisitionThe planned Massachusetts acquisition previously announced on September 25, 2019 remains on track for closing in early November 2019.Release of Q3 ResultsFollowing the release of record Q2 results, Management has been working to further accelerate quarterly reporting timelines. The timeline for release of Q3 results is anticipated for the latter part of the first full week of November 2019.About Nova LeapNova Leap is an acquisitive home health care services company operating in one of the fastest growing industries in the U.S. & Canada. The Company performs a vital role within the continuum of care with an individual and family centered focus, particularly those requiring dementia care. Nova Leap achieved the #10 Ranking in the 2019 TSX Venture 50™ in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 4 different U.S. states: Vermont, New Hampshire, Massachusetts, and Rhode Island as well as Halifax, Nova Scotia.FORWARD LOOKING INFORMATION:Certain information in this press release may contain forward-looking statements, such as statements regarding future expansions and cost savings, the Company’s expected annualized recurring revenue run rate and plans regarding future acquisitions and financings. This information is based on current expectations and assumptions, including assumptions concerning the Company’s ability to integrate its acquired businesses and maintain previously achieved service hour and revenue levels, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include regulatory changes affecting the home care industry, unexpected increases in operating costs and competition from other service providers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this press release are made as of the date of this release and included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.CAUTIONARY STATEMENT:Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For further information: Christopher Dobbin, CPA, CA
Director, President and CEO Nova Leap Health Corp.
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