The telehealth industry is growing at a decent clip owing to the rapidly rising demand for such services, and investors are increasingly looking for options to get into the space. There are many listed companies that one could look into, and one of those is LevelJump Healthcare Corp. (OTC:JMPHF) (TSXV:JUMP).
The company provides telehealth solutions to its hospital clients and also provides specific services to imaging centers through its Teleradiology wing. However, that is not all. The company also delivers in-person radiology services through the independent healthcare facilities that it offers. LevelJump Healthcare is primarily focused on providing emergency and urgent critical care to patients, thereby cementing strong relationships in the communities that it serves.
The company was in focus not too long ago after it announced on May 12 that it had been awarded an extension with regard to its non-brokered private placement by the TSX Venture Exchange. The company had previously announced the placement on March 24. It was announced that LevelJump Healthcare was going to offer a total of 5,000,000 units for $1 each, thereby raising a total of $5,000,000.
Following the award of the extension, the final date for acceptance of the same was set for June 10, 2023. In this case, it might be a good idea for investors to look into some of the specifics of the placement. Each unit offered by the company would consist of one common share in LevelJump Healthcare at a price of $0.10 per share and one 8% cumulative redeemable convertible Class A Series 1 preferred share at a price of $0.90 per share.
Each preferred share that is going to be offered would be of a non-voting variant and would also carry a quarterly dividend of 8%, which would be paid out on a quarterly basis. Additionally, it would also involve a top-up dividend to the tune of 25% of the EBITDA of LevelJump Healthcare above $2,000,000.
It is necessary to point out that only residents of Canada are going to have the option of participating in the offering. Additionally, those Canadians would also need to be “accredited investors,” or those who are “family members, close personal friends, or business associates” as per the rules of the concerned securities laws.
On May 2, the company announced its financial results for the fiscal year that ended on December 31, 2022, and ended up clocking record revenues. In 2022, the company’s revenues from the Canadian Teleradiology Services Inc. division hit a record level of $9.2 million. That reflected a year-on-year rise of 38% in revenues.
LevelJump Healthcare’s total revenue for the year was $9.3 million, and its net income for the same period was $234,767. Canadian Teleradiology Services Inc. generated net profits of $2 million for the 2022 fiscal year. The EBITDA for the fiscal year for LevelJump Healthcare stood at $156,000.
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