President & CEO of Nova Leap Health Corp. to Present at Richmond Club Event
HALIFAX, September 3, 2019 – 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 Chris Dobbin, President & CEO of Nova Leap, will present at the upcoming Richmond Club Event (“the Event”) to be held on September 11, 2019 at the Toronto Club in Toronto, ON.
During the Event, Mr. Dobbin plans to discuss how the Company has achieved the following:
Double-digit Organic Growth Rates
At the end of Q2 2019, annualized organic growth rates as compared to the annualized results for 2018 were as follows:
- Gross Margin/Net Service Margin – 10.3%
- Operating Segment EBITDA – 64.0%
Record Quarterly Results
The quarter ending June 30, 2019 results were released on August 27, 2019 and highlighted:
- Record quarterly revenues;
- Record quarterly gross margin;
- Record quarterly EBITDA; and
- Record quarterly Operating Segment EBITDA
Successful Integration of M&A
- The Company has achieved strong organic growth and record quarterly results while integrating eight companies over eight quarters in two countries.
About Nova Leap
Nova 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 877% revenue growth in 2018 through a geographically focused expansion plan and 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 Nova Scotia, Canada.
About the Richmond Club
The Richmond Club is celebrating its 16th year of helping its members profit from undervalued companies with excellent growth potential. Richmond Club members are a mix of investment advisors, fund managers, analysts and members of the media.
Gross margin/Net Service margin is service revenue less cost of services;
Earnings before interest, taxes, depreciation and amortization (“EBITDA”), is calculated as the net loss, before acquisition and transaction costs, non-cash expenses (including loss from disposal of assets, impairments, amortization and depreciation and stock-based compensation), interest expense, net of interest income and income tax expense.
Annualized revenue, annualized gross margin and annualized EBITDA are calculated as actual revenue, gross margin or EBITDA extrapolated from the beginning of the year or date of acquisition over 365 days.
Organic EBITDA growth is calculated as the increase in EBITDA period over period for entities owned for the entire reporting periods being compared.
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.
For further information:
Christopher Dobbin, CPA, CA,
Director, President and CEO Nova Leap Health Corp.,
T: 902 401 9480 F: 902 482 5177
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.