Nova Leap Health Corp. Posts Financial Results for Third Quarter 2020 - Seite 3

The deep experience of our operating teams and talented staff have allowed us to navigate the current environment and our organization has demonstrated a certain resilience in meeting these challenging times. Our strategy of buying smaller companies in different geographies has been part of our success.

During the quarter, we made some investments in regional personnel in the U.S. as we expect to grow significantly over the next couple of years and certainly for many years to come. I am extremely impressed with the quality of people we have been able to attract to our organization, including those who join the Nova Leap family as owners transition their businesses to us.

We announced the closing of an Arkansas home care company toward the very end of September and announced two further New England acquisitions, one of which closed in Massachusetts at the end of October and one currently making its way through State licensing. While the pandemic still provides some uncertainty in the global markets, we believe we’re in a good position to continue with our acquisition program while being mindful of the events unfolding.”  

This news release should be read in conjunction with the unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2020, notes to the financial statements, and management's discussion and analysis, which have been filed on SEDAR.

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 centred 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 7 different U.S. states within the New England and South- Central regions as well as Nova Scotia, Canada.

NON-GAAP MEASURES:

Earnings before interest, taxes, depreciation and amortization (“EBITDA”), is calculated as the net income (loss), before acquisition and transaction costs, government grant income non-cash expenses (including loss from disposal of assets, impairments, amortization and depreciation and stock-based compensation), foreign exchange gains/losses, interest expense, net of interest income and income tax expense.