Mr. Mitchell Geisler reports
LEVELJUMP HEALTHCARE CORP. ANNOUNCES: ESTABLISHING NEW IMAGING CENTER
Leveljump Healthcare Corp.'s wholly owned subsidiary Canadian Teleradiology Services Inc. is in the process of establishing a new X-ray and ultrasound centre. CTS has signed definitive agreements to acquire an existing independent health facility licence to operate a diagnostic imaging centre, from a private Ontario vendor, as well as signed an agreement to lease a location in Toronto, Ont.
The purchase price of the licence is $1.4-million including $1.2-million in cash and $200,000 worth of Leveljump common shares valued on the date of closing to a maximum of two million shares. The company has already paid a $60,000 deposit toward the purchase price and will pay a further $300,000 from cash on hand at closing with the balance to be from bank financing. The transaction is targeted to close on Oct. 31, 2022, and is subject to several conditions, including, but not limited to, required regulatory approval and securing an institutional credit facility to finance the balance of the cash portion of the purchase price.
The new centre is to be called Yonge Sheppard X-ray & Ultrasound, and the company has signed an agreement to lease approximately 3,000 square feet at the Yonge Sheppard centre, in north-central Toronto, to house the new centre. The company anticipates the new location to open in early 2023 and become the flagship imaging centre for the company in Canada.
The company expects to be operational in the new location in the first quarter of 2023.
Leveljump expects the new location to generate up to $2-million per year in annual revenues by 2024 and add approximately 0.5 cent per share in EBITDA (earnings before interest, taxes, depreciation and amortization) to future annual earnings. The company is raising its EBITDA estimates for 2023 to between 1.5 cents and two cents per share.
About Leveljump Healthcare Corp.
Leveljump is building a national telehealth medical company and brand, currently by providing teleradiology (remote radiology) services to its client hospitals and imaging centres. Additionally, Leveljump owns and operates independent health care facilities focused on diagnostic imaging.
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