March 24, 2020 (Source) – 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 providing an important update on the novel coronavirus’ (COVID-19) impact on the Company’s operations.
President & CEO’s Comments on COVID-19
It was just under two weeks ago when I wrote to shareholders following the release of our Company’s record 2019 year-end results. Since then, the global impact of COVID-19 has been staggering. During these unprecedented times, it is important to reflect on the critical role our home care agencies serve in their respective communities.
While businesses are forced to shut down or pause operations due to lack of demand in the current environment or due to government decree, our staff and caregivers continue to ensure that our most vulnerable citizens receive care in their homes. In a time when self-isolation or social distancing are required, I am comforted knowing that the services we provide can be performed where our senior population feel most comfortable.
To our leadership team, staff and caregivers working around the clock during these challenging times, I thank you for your dedication and am grateful to be at your service. To the individuals, families and communities that we serve, know that we understand this important responsibility.
During this difficult time, the health and safety of our staff and clients will remain a priority as always. Our home care agencies are operating, our staff continues to provide care essential to our clients’ well-being, our U.S. and Canadian business segments remain stable and we are in the best financial position in our Company’s history.
I believe that the pandemic will shine a light on the importance of home care given that individuals can be taken care of safely in the comfort of their home where exposure to others may be controlled or limited.
2020 Spring Investors Summit
The 2020 Spring Investor Summit (the “Summit”) for NYC, as previously communicated on February 18, 2020, has been changed from in an in-person to a virtual event. Mr. Chris Dobbin, President & CEO of Nova Leap will be presenting at the event by way of webcast on Wednesday, March 25, 2020 at 12:10 PM ET.
The unique link allowing access to the Company’s webcast is:
During the Summit, Mr. Dobbin plans to discuss the following:
2019 Annual Results
- 2019 annual results for the Company which were released on March 12, 2020;
- An update on the successful expansion to South Central U.S. which occurred in Q4 2019; and
- An update on the successful integration of the Massachusetts acquisition which also occurred in Q4 2019.
Industry and Strategy
- How the Company is dealing with the COVID-19 pandemic;
- The expanding Home Care market and Nova Leap’s focus on dementia care;
- How Nova Leap has successfully employed its acquisition and post-acquisition strategies to achieve previously reported record financial results;
- How promoting from within the organization has helped the Company scale;
- How continued investment in care professional training, including dementia training, leads to better client service;
- Why expanding to South Central U.S. was appropriate after the Company’s success in building a regional platform in New England;
- The advantage of decentralized operations and the impact of positive incremental changes on operational leverage; and
- The Company’s high insider ownership and Management’s desire for the Company to become a long-term compounder through the proper allocation of capital.
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 #10 Ranking in the 2019 TSX Venture 50™ in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 5 different U.S. states: Vermont, New Hampshire, Massachusetts, Rhode Island and Oklahoma as well as Nova Scotia, Canada.
About the Spring Investor Summit
The Spring Investor Summit (formerly the MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors.
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.
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.