SLHG - Skylight Health rises premarket on $8M NeighborMD acquisition

Skylight Health (NASDAQ:SLHG) stock rose 3% premarket Tuesday after the firm said it will acquire NeighborMD (NMD) for $8M in cash. Of the Medicare Advantage lives at full risk, Florida-based NMD currently sees an average reimbursement of $10K-12K per member per year. SLHG expects to receive the same. The acquisition is expected to more than double SLHG's current revenue run rate. At closing, all key leadership and operational teams will continue with SLHG.  "With the JV with CHS, this acquisition will significantly accelerate our entry into full risk in 2022, as originally planned for 3-5 years out," said SLHG CEO Prad Sekar. SLHG arranged a $20M debt line facility that will close at the same time as the closing of the acquisition. SHLG can draw down $10M to fund the acquisition, including working capital to support integration and operating costs. SLHG will still have $10M available to fund additional acquisitions. The term of

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Skylight Health rises premarket on $8M NeighborMD acquisition