Skylight Health Group has received an extension from the TSX Venture Exchange to complete a US$5 million financing through convertible debentures by December 21, 2022. This financing is crucial for the Company's efforts to transition towards value-based care in the U.S. healthcare system, focusing on improving patient outcomes and financial performance. The terms remain unchanged from a prior announcement. The Company aims to assist practices in moving from a fee-for-service to a value-based care model.
Skylight Health Group Inc. (OTCQX:SLHGF) reported strong financial results for Q3 2022, with revenues reaching $20.8 million, a 152% year-over-year growth and a 30% increase from the previous quarter. The net loss decreased by 16% to $4.3 million, while adjusted EBITDA loss improved by 27% to $3.97 million. The company is transitioning to a full-risk value-based care model, expecting further operational improvements and adjusted EBITDA break-even by the end of 2022. In addition, Skylight has secured new contracts for Medicare Advantage in Florida, further enhancing growth prospects.
Skylight Health Group (TSXV:SLHG; OTCQX:SLHGF) will release its financial results for Q3 2022 on November 16, 2022, after market close. The company aims to transition patients into value-based care in the U.S. healthcare system, enhancing health outcomes through technology and analytics. A conference call is scheduled for November 17, 2022, at 8:00 AM EDT to discuss these results and the company’s outlook.
Skylight Health Group (TSXV:SLHG; OTCQX:SLHGF) has announced a strategic investment of USD 5 million from a U.S. healthcare investment firm, structured as a 0% interest convertible debenture. The initial tranche of USD 3.37 million has been completed, with the second tranche of USD 1.63 million expected in 30 days. The funds will support the company's growth towards profitability, following improved EBITDA performance and an expanding Medicare Advantage portfolio. A dividend of $0.1927 per share for Series A Preferred Shares will also be paid on November 21, 2022.