Nova Leap Health Corp. Re-engages Acquisition Program with Closing of Strategic Acquisition in Massachusetts

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HALIFAX, Nova Scotia, May 06, 2024 (GLOBE NEWSWIRE) -- NOVA LEAP HEALTH CORP. (TSXV: NLH) ("Nova Leap" or “the Company”), a growing home health care organization, is pleased to announce that it has completed the strategic acquisition of a home care business with operations in Massachusetts. The execution of the definitive agreement and related information pertaining to this acquisition was previously announced on April 26, 2024.

“We’re pleased to re-engage our acquisition program by completing our first acquisition of 2024,” said Chris Dobbin, President & CEO of Nova Leap. “This acquisition complements our existing businesses in Massachusetts and is part of our strategy of expanding our footprint in the region. We’re looking forward to working with this tremendous group of individuals as we plan further expansion.”

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 the #42 and #2 ranking on the 2021 and 2020 Report on Business ranking of Canada’s Top Growing Companies and the #10 Ranking in the 2019 TSX Venture 50™ in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 8 different U.S. states within the New England, Southeastern, South-Central and Midwest regions as well as Nova Scotia, Canada.

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding future acquisitions and business growth, including anticipated annualized revenue or annualized recurring revenue run rate growth and anticipated consolidated Adjusted EBITDA margins. This information is based on current expectations and assumptions, including assumptions described elsewhere in this release and those concerning general economic and market conditions, availability of working capital necessary for conducting Nova Leap’s operations, availability of desirable acquisition targets and financing to fund such acquisitions, and Nova Leap’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 the impact of the COVID-19 pandemic or any recurrence, including staff and supply shortages, regulatory changes affecting the home care industry or government programs utilized by the Company, other 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, and these statements may not be appropriate for other purposes. 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:
                    
                    Chris Dobbin, CPA, ICD.D
                    Director, President and CEO
                    Nova Leap Health Corp.
                    T: 902 401 9480
                    E: cdobbin@novaleaphealth.com