“We are a homecare services company. The industry itself has been one of the fastest growing industries in Canada and the U.S. for the last few years. Really it is based on demographics. It should continue to be so. I think as a management team we have been fairly good at identifying targets that are attractive to us. First we tend to go into rural or secondary markets in the U.S., primarily in New England. We have been able to find good quality companies run by good management teams. We have had a lot of success in acquiring those companies and then integrating them or bringing them together. It is really for those reasons that we have been able to have some good success over the course of the last 12 to 14 months.” States Chris Dobbin, President and CEO of Nova Leap Health Corp. (TSXV: NLH), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: You have just basically had double-digit growth again for your fifth consecutive quarter. Chris can you tell me how you are managing to achieve this in these current market conditions?
Chris Dobbin: Sure. Well I guess it starts with the industry that we are in. We are a homecare services company. The industry itself has been one of the fastest growing industries in Canada and the U.S. for the last few years. Really it is based on demographics. It should continue to be so. I think as a management team we have been fairly good at identifying targets that are attractive to us. First we tend to go into rural or secondary markets in the U.S., primarily in New England. We have been able to find good quality companies run by good management teams. We have had a lot of success in acquiring those companies and then integrating them or bringing them together. It is really for those reasons that we have been able to have some good success over the course of the last 12 to 14 months.
Tracy Weslosky: We have noticed over the last 14 quarters, I believe it is seven acquisitions that you have done. Can you tell me a little bit more about how you have managed to do so many acquisitions so seamlessly Chris?
Chris Dobbin: Since last September, so September 2017, we have been fairly active on the acquisition front. In September we went to Rhode Island. We purchased a company called All About Home Care. In October we entered into Vermont and New Hampshire. This past February we made an acquisition in Massachusetts; made another acquisition in Massachusetts in April. Acquired a company in Halifax in June and then made two more acquisitions since then, one at the end of September, again in Massachusetts, and then one mid-October in New Hampshire.
Tracy Weslosky: Nova Leap has consecutively been, not only showing that they have revenue, making acquisitions. Obviously you have a competitive advantage or two. Can you tell us more about this?
Chris Dobbin: Two things, we look at it from a pure acquisition strategy. I think going into the secondary markets or more rural areas has been attractive for us. They are certainly areas that have less competition, great caregivers, great referral sources, down to earth people; just areas that we really like. Once we are in at the operational level our focus really is on dementia care. Just over 60% of our client base would have some form of dementia. That is really the niche market for us. We are focused on helping those folks that have dementia. We have a specific training program that we are rolling out in Canada and the U.S. that is dementia related. That is our strategy going forward as I think about growing this company and providing great service to the areas that we are in now.
Tracy Weslosky: Nova Leap has a number of competitive advantages. I think one thing that I would love our audience to notice is not to assume that your acquisitions are all focused on Canada. In fact most of them seem to be in the United States…to access the complete interview, click here
Disclaimer: Nova Leap Health Corp. is an advertorial member of InvestorIntel Corp.