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Now That Skylight Health Group Has Uplisted To The NASDAQ(24), The Gloves Are Off

After Seeing Record-Breaking Revenue,(25) Is This Disruptor’s Conquest of a Surging Value-Based Care Space Unstoppable?

September 15, 2021
Skylight Health Group Enters New State Acquiring Pennsylvania Clinic Group Aspire Health Concepts

The Top Reasons Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) Could Transform Healthcare 

  1. Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) has a business model dedicated to converting a potential $290B Primary Care market(1) from fee-for-service to value-based care.
  2. The once-in-a-century health disaster we’ve seen in the last 18+ months has exposed our excessive medical spending and how underserved primary care is. Thanks to government initiatives, value-based care growth has accelerated by an astounding 50%.(26)
  3. Skylight has a pipeline of deals of over $100mm+ in revenue priced between 3-7x EBITDA.(1) Its most recent acquisition of ACO Partners LLC(29) is yet another move in its mission to transform value-based care.
  4. In its most recent earnings report, Skylight reported record-setting financial results. Revenue increased 184% to $10.5 million, driven by acquisitions and organic growth, compared to $3.7 million for the same period last year and up 103% from $5.2 million for the first quarter of 2021.(25)
  5. Skylight recently uplisted to the Nasdaq. This could put it in a prime position for increased access to investments from retail and institutional investors globally, improved liquidity for its common shares, and optimizing its cost of capital.(24)
  6. Despite several potential catalysts, Skylight remains significantly undervalued compared to many peers. Based on its closing price as of September 10, 2021 ($3.07)(13) and several analyst price targets,(1) the SLHG stock may have between 176.87% to 242.02% of potential upside.

Let’s cut to the chase.

There’s a company out there that just uplisted to the Nasdaq and reported record revenue growth. All while angling itself as the most disruptive force behind the generational shift of our healthcare system from fee-for-service to value-based care:

Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V).

On a personal level, I know it when I see it, too. I have family members who work in telemedicine and friends in other aspects of healthcare. I’ve researched healthcare companies and healthcare real estate. I’ve seen this song and dance before with potential disruptors.

Never have I seen something quite as exciting as Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V). 

Here’s why. Skylight has entirely based its business model behind what could be the most groundbreaking transformation the U.S. healthcare system has ever seen- the revolution from fee-for-service to value-based care. Skylight is applying this shift precisely towards Primary Care.

The older system, a “fee for service” model, reimburses the client every time they see a doctor.

The “value-based model” reimburses client visits much heavier at the beginning in hopes of preventing expensive surgeries, recurring visits, and more.

Thanks to what we’ve seen in the last 18+ months with a once-in-a-century health disaster, the band-aid covering long-standing pain points in our healthcare system has been ripped off. Value-based care growth has accelerated by an astounding 50%!(26)

You can thank how unsustainable our medical spending is, our catastrophic supply and demand gap with primary care physicians (PCPs) (aka the foundation of healthcare), for this.

According to the Centers for Medicare and Medicaid Services (CMS), national health spending is projected to grow at an average annual rate of 5.4% for 2019-28 and potentially reach $6.2 trillion by 2028.(3)

National health expenditures are also projected to outgrow our GDP by an average of 1.1% per year on average over 2019–28.(3) The health share of the economy is also projected to rise from 17.7% in 2018 to 19.7% in 2028.(3)

Furthermore, a major PCP shortage has been identified across the U.S. in roughly 32% of the market.(1)

Additionally, PCPs are on the low end of the compensation scale relative to other physician specialties. Physicians have low interest in training to enter primary care, and regulations have increased administrative burden.(1)

This is all occurring as primary care doctors can work up to 51 hours a week and see 20 patients a day.(4)

By compensating providers based on patient health outcomes rather than incentivizing them to perform costly procedures and tests, value-based healthcare may also solve other long-standing pain points. Pain points that include underfunded public health departments, inequitable access to care, and high levels of underlying chronic conditions that worsen outcomes.(27)

Insurance providers are also driving this change. They are shifting their reimbursement models from the “old model” of fee-for-service (think: high traffic, over-billing, low quality of care) to the “new model” of managed care (think: preventative healthcare on a capitation basis), primary care providers are being rewarded for transitioning their business model, too.

“Aetna is committed to 75% of claims being value-based by the year 2020. And care management is widely known as a good strategy to improve health and reduce costs,” said Mohamed Diab, VP Provider Transformation at Aetna.(1)

Here is how Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) comes into play.  

Skylight is taking a new-age approach that is one of the most innovative and potentially revolutionary in transforming U.S. healthcare into a value-based model.

What sets Skylight Health apart is its focus on the Primary Care market. Skylight Health has a unique high-growth business model that acquires “old model” fee-for-service clinics at a discount. It then overlays their technology, infrastructure, and expertise, to transition them to the “new model” of value-based care.

In fact, Skylight has added over $30 million in annualized revenues from acquisitions priced between 3-7x EBITDA.(1)

That’s what happens when you base your strategy on acquiring undervalued “old system” Primary Care clinics that are already cash-flow positive with high patient retention.

Skylight Health has a dual growth strategy- organic growth and growth through acquisition by implementing their expertise and technology. Skylight’s business model plans to convert these acquired “old system” clinics to the “new system” while creating immediate arbitrage potential for organic growth.

If the company stopped acquiring healthcare facilities today, they would still likely grow exponentially from organic means alone. WITHOUT including any new acquisitions, Skylight has a jaw-dropping 2021 revenue guidance of $40 million.(1)

This is a company, though, which continues to forge ahead in its conquest of value-based care, most recently with its acquisition of ACO Partners LLC.(29) More potential acquisitions of undervalued, revenue-positive clinics could be in the pipeline too, but already the company is/has:(1)

  • Providing primary care and future value-based care to over 70,000 patients across 5 markets through a network of 60 providers.
  • Completed 7 multi-clinic practice acquisitions since October 2020.
  • Added over $30 million in annualized revenues from acquisitions priced between 3-7x EBITDA.
  • Strong organic growth is expected as these practices transition to value-based reimbursement models within 12-18 months after acquisition.
  • A developed impressive portfolio of payor relationships as clients.

How Big Could The Primary Care Opening Really Be For Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V)?

In a nutshell, the opening that Skylight has to alter Primary Care into a value-based behemoth is colossal.

With the Primary Care market representing over $290B and growing roughly 4.7% annually(1), Skylight Health sees an opportunity to help independent and smaller practices adopt a value-based capability mindset where care is measured against Quality and Outcomes and results in significantly improved patient economics.

Skylight’s business model truly understands this. Its ultimate goal is ​​to build a national primary care physician (PCP) platform that offers independent PCPs a white knight venue to create value, shift their risk and participate in value-based care.(1)

Primary Care functions as the gatekeeper of all healthcare services and costs. The core of Skylight’s mission realizes that Primary Care practices will need to adapt as the market transitions from fee-for-service to value-based care.

Because most independent practices lack the infrastructure, technology, and capabilities to provide care while measuring value-based capabilities, Skylight Health could have a once-in-a-generation type of opening.

Not to mention, this may be one of the most essential yet most undervalued firms in its field.

Furthermore, while some of its top competitors have performed well since their IPOs, compared to their forward P/S ratios, Skylight looks by far the most undervalued.

As of September 12, 2021, look at how some of its potential competitors are valued based on multiples of forward-looking revenue. Oak Street Health is trading at 9.0x revenue(6), Agilon at 7.0x(7), and Privia at potentially over 20x revenue(23).

Meanwhile, SHG is trading at just about 3.2x forward revenue(30), and has outperformed these competitors in the week between September 3-September 10, 2021.(9)

Even further, take Cityblock Health, a private company with a similar value-based healthcare model as Skylight’s, as another example. In December 2020, it announced the completion of a $160 million Series C funding round and a valuation of over $1 billion.(22)

Now that Skylight Health has uplisted to the Nasdaq, all the signs look potentially bullish for this company’s future. This flourishing company may not be this undervalued for too much longer.

Newly Uplisted, Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) Has Transformative Potential Catalysts 

Skylight Health Group recently uplisted to the Nasdaq and commenced trading on June 7, 2021, under the ticker symbol “SLHG”.(24) Skylight’s Nasdaq listing is expected to increase access to investment in Skylight Health from retail and institutional investors globally.

Moreover, as a company with growing U.S. healthcare operations, Skylight believes that now is the time to list on a major U.S. exchange and gain access to a much larger capital market. It also expects to improve liquidity for its common shares and, in turn, optimize its cost of capital.(24)

The stock’s performance since the uplisting has yet to fully break out. Yet, the company has two potentially transformative catalysts that have yet to be reflected in the stock price.

1) Acquisition of ACO Partners(29)

On July 14, 2021, Skylight Health Group Inc. announced its acquisition of ACO Partners LLC. Effective January 1, 2022, this Accountable Care Organization (“ACO”) is on track to begin participation in the Medicare Shared Savings Program (“MSSP”) offered by the Centers for Medicare and Medicaid Services (“CMS”).

  • An Accountable Care Organization (“ACO”) is a healthcare organization that ties provider reimbursements to quality metrics and reductions in the cost of care.
  • An ACO will share in the savings it achieves for the Medicare program through its MSSP participation for fee-for-service beneficiaries and direct contracting program with CMS;
  • Under the Medicare Shared Savings Program, the organization can see annual shared savings from 40% (single-sided risk) up to 75% (full risk) on any attributed Medicare beneficiaries;
  • Skylight’s ACO will enable it to begin value-based care directly with CMS under a single-sided risk agreement in Year 1. All with a goal of shifting to full risk;
  • This acquisition expands the potential for National payor contracting, including Medicare Advantage;
  • In addition to Skylight participants of the ACO, Skylight expects to solicit new provider networks for participation in the Skylight ACO; and
  • Skylight expects to see the ACO benefit all current and future Skylight primary care practices for traditional Medicare patients at the start of the 2022 contribution year.

“We are very excited for this foundational step at Skylight,” said Prad Sekar, CEO at Skylight Health. “Having our own ACO means a number of key benefits that include gaining direct access to key quality and cost data on our Medicare patients that allows us to maximize opportunities under the MSSP. We retain the full dollar by contracting directly with CMS on traditional Medicare which means more capital to directly invest in programs that can maximize patient outcomes.”(29)

In 2019 alone, ACO’s saved Medicare nearly $1.2 billion while maintaining a high level of care quality as measured by long-standing program metrics.(29) ACO’s allow access to critical data points, including cost and quality data, to help providers understand how to maximize health outcomes and cost of care. Access and use of this data is a significant barrier to value-based care participation for most independent providers. Removing the barrier of access to the data, together with the integration of its proprietary analytics capabilities, Skylight expects to realize enhanced clinic performance and an improved strategic acquisition strategy.

Skylight expects to realize 3 key benefits from this acquisition:(29)

1) Direct CMS contracting for Traditional Medicare – under the MSSP, Skylight expects to receive in Year 1 up to 40% of the shared savings realized through programs and services. All to optimize patient outcomes and reduce the cost of care. The company expects to enter full risk contracting, which could see up to 75% of shared savings and other value-added incentives, including capitation, as it demonstrates savings and quality outcomes.

2) National Contracting Platform – through the ACO, Skylight and its network of providers will benefit from scale and the opportunity to contract with national payors on managed care programs such as Medicare Advantage and commercial risk.

3) Additional Provider Participation and Acquisition Opportunities – the ACO provides a platform for Skylight to gain additional provider participation. This can lead to opportunities for further consolidation as providers continue to seek buyers who are aligned with the practice’s long-term patient care model and values.

2) Record-Setting Revenue Growth(25)

On August 16, 2021, Skylight reported record-setting Q2 2021 financial results.

Some of these eye-popping highlights include:(25)

  • Revenue increased 184% to $10.5 million, driven by acquisitions and organic growth, compared to $3.7 million for the same period last year, and up 103% from $5.2 million for the first quarter of 2021;
  • Organic growth from existing Primary Care clinics of approximately 13% during the quarter;
  • In addition to the ACO acquisition, the company also, on April 5, 2021, completed the acquisition of Rocky Mountain in Denver, CO, and on June 23, 2021, Doctors Center in Denver, CO.
  • Executed clinical trial contracts expected to generate revenue with strong margin potential.
  • Reported a cash balance of $11.8 million as of June 30, 2021.

“We are excited that we achieved our largest revenue quarter in the history of the Company. The second quarter continued the transformative growth that started in the first quarter of this year,” said Prad Sekar, CEO of Skylight Health. “We’ve identified two key growth areas that will remain a focus for the last half of the year and onwards: the growth through strategic acquisitions and the participation of value-based care under the Medicare Shared Savings program for our traditional Medicare patients beginning in 2022.”(25)

The company also reported 65-75% gross margins, target operational net margin contribution of 20-30% per clinic, positive EBITDA and cash flow from operations, and no long-term debt.(1)

So while the stock overall has yet to fully reflect these potential catalysts since uplisting, it may be at the start of a brewing breakout. In only 3 days between September 7, 2021 and September 10, 2021, the stock advanced from a low of $2.65 to a high of $3.14- a move of almost 18.5%.(13)

With a tiny float of about ​​29.16M(12), this is a stock that has the potential to move enormously when it moves. After all, on September 10, 2021, alone, the stock closed up over 9.6%.(13)

The company’s tightly held ownership structure surely doesn’t hurt matters either.

Most importantly, we could be talking about a stock trading at a shocking discount compared to its peers. Based on Skylight’s potential catalysts and several astounding analyst price targets, we may be at the beginning of something huge.

The SLHG stock closed at about $3.07 a share on September 10, 2021.(13) Do the math. If it touches Beacon’s price target, that potentially gives the stock 176.87% of upside to run. If it touches Echelon’s price target, that will give it an astounding 242.02% of room to potentially run.

How Else Could Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) Solve Major Challenges for PCPs? 

The mission statement of Skylight Health Group is the following:

“Skylight Health has returned US healthcare to the way it should be – highly accessible and highly affordable.”(10)

By partnering with Skylight Health, independent PCPs across the U.S. alleviate major challenges they face. With Skylight, these PCPs join a national platform that can provide access to capital, technology, corporate leadership, and relationships. This is incredibly huge for independent PCPs, since many lack access to capital and can’t convert under value-based payment models.

Skylight solves these challenges by offering proprietary technology that lets practices measure, manage, and execute on quality metrics for better patient outcomes.

Providers and patients see an improved delivery of care that is not governed by billing codes and constraints of time and access. Skylight providers participate in the growth of the practices post-acquisition balancing corporate structure with clinical and patient independence.

Currently, Skylight serves PCPs in 7 markets, with 4 more in the pipeline.(1)

Here is Why Skylight is the Best Choice for Independent PCP’s:(1)

1) Health Systems & Networks

  • Focus on higher acuity services.
  • Value up-front but limited growth post.
  • Higher burn-out rates.
  • Not aligned with outcome-based care.

2) Private Equity & Backed Buyers

  • Value tied up in a private model.
  • Typically, a Non-Operating partner.
  • Focus on short term upside through acquisition.
  • Patient value is not the primary goal.

3) Skylight is a True Operating Partner

  • Competitively priced valuations.
  • Operating partner with MSO capabilities.
  • Focus is long-term conversion to value.
  • The patient remains the number one focus.

Challenges Faced Create Massive Opening For Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V)

We’ve already discussed how much value-based care is exploding and how Skylight is at the forefront of this boom by strategically acquiring Primary Care facilities and converting them. But, consider why fee-for-service providers face the ultimate roadblocks to convert to enable risk-sharing and capitation-based payment models.

By removing these roadblocks to convert to value-based care, Skylight is helping to make the following happen:(1)

  • Providers are now adequately trained and equipped to take an accountability-based approach
  • Education driven model for all stakeholders to understand what it takes to be successful
  • Evidenced-based framework to support decision making and patient care planning
  • Reimbursement models that support payment ahead of care delivery

The underlying theme here is this. For patients, providers, and payors, Skylight’s model provides a win-win-win for everyone. When has that ever happened in healthcare before?

Strong Leadership, Strong Results

Successful companies tend to possess common traits, and one of those traits is a strong management team. Skylight Health Group certainly has that ground covered.

Prad Sekar
Chief Executive Officer, Secretary and Director

Mr. Sekar has spent over 15 years in clinical practice management. He has owned, operated, and consulted with outpatient multidisciplinary healthcare practices in Canada and the U.S. Mr. Sekar holds a BSc Hon from the University of Ottawa and an MBA from Hult International Business School. Following a career in establishing and operating successful medical practices, Mr. Sekar began consulting with Canadian medical regulatory bodies and agencies to support their network of practitioners in establishing and operating medical clinics. Mr. Sekar is also a recognized professor with a registered program for Medical Office Assistants under the Ontario Ministry of Education.

Kash Qureshi
President, Chief Technology Officer, and Director

As co-founder of CB2 Insights, Mr. Qureshi brings more than 20 years of extensive operational and entrepreneurial experience in sales, commercial financing, technology, and the last 10 years directly involved in healthcare, wellness, and health technology. An ardent cost-efficiency executive, Mr. Qureshi has focused on technology infrastructure, operational proficiencies, overall profitability, as well as acquisitions in a series of organizations throughout the healthcare sector.

Andrew Elinesky
Chief Financial Officer

A well-tenured financial professional, Mr. Elinesky brings over 20 years of experience as a CFO and senior financial leader for publicly traded companies in Canada and the US.  With a focus on M&A and consolidation experience, Andrew was SVP and CFO at McEwen Mining. There, he managed equity and debt financing of over $150M and a $35M asset acquisition and $40M company acquisition.  He also has held various senior leadership and treasury roles at Heinz UK, Diageo, and Worldcom UK.  Andrew graduated from Oxford Brookes University and is Treasurer for the Canadian Network for the Prevention of Elder Abuse.

Dr. Kit Brekhus
Chief Medical Officer

Dr. Brekhus has over 25 years of primary care and family medical experience as a clinician, owner-operator, and in various executive roles. He is a founding board member of a major integrated healthcare system overseeing 5,000 providers.

Paul Kulas
Chief Operating Officer

Paul brings a diverse set of healthcare expertise, having been VP Operations for St. Joseph Health Medical Group, which has over 120,000 caregivers across 51 hospitals and more than 1,000 clinics.  He was instrumental in implementing the organization’s telehealth services and other new technologies.  He holds a Master of Science in Administration from Central Michigan University.

Dan Thompson
Chief Communications Officer

Dan brings over 20 years of marketing experience with high-growth public and private technology companies. Dan built and led the marketing divisions for early-stage companies in retail, travel, and payment technology. Dan graduated from Michigan State University with degrees in marketing and communications.

Stephanie Gluchacki
SVP, Compliance

With over a decade of experience in the U.S. healthcare market, Ms. Gluchacki has led the multi-state management of multiple medical clinics and clinic brands in primary care and specialty medicine spaces.  She brings an acute focus to governance, regulations, and financial management, having served as President of Clinical Operations for a significant U.S. clinic brand.

Mohammad Batineh
Chief Corporate Officer 

Mohammad Batineh has over 20 years of experience in strategic M&A activity and legal oversight for small, mid-sized, and large corporations. He has a track record of focusing on inorganic growth strategies and large-scale healthcare integrations.

Board of Directors

Patrick McNamee
Chairman of the Board

Patrick brings substantial healthcare leadership, having been EVP and COO of Express Scripts. At Express Scripts, he led all significant activities of the technology-driven pharmacy benefit management company.  With a focus on organic and acquisitive growth, McNamee played a big part in bringing the company from $3B in revenue to over $120B.  He is also the former President and CEO of Health Insurance Innovations. He led a significant and fast turnaround, increasing the share price from $4 to $58 in less than 2 years.

Norton Singhavon

Norton is the Founder, Chairman & CEO of GTEC Holdings. He has extensive capital investments, acquisitions, consolidations, and start-up experience in Canada’s private and public green leaf sector. He has deployed over $100 million into the North American green leaf industry and has been involved in numerous public M&A green leaf transactions, and was an early-stage advisor to major Licensed Producers, including Cronos Group.

Grace Mellis

Grace brings nearly three decades of strategy, finance, and capital markets experience with executive roles at JP Morgan Chase, including Head of International Strategy and as Investor Services CFO for EMEA.  Ms. Mellis is also the former Chief Financial Officer at Greendot Corporation, a US$3.1B market cap NYSE-listed company.  She is also a mentor and investor with Techstars, a global start-up incubation platform.

Peter Cummins

Peter has spent over two decades with Johnson & Johnson, including executive leadership roles overseeing research and development, product development, external innovation, regulatory affairs, and hospital pharmacy across Canada, the U.S., Europe, and other regions. He has also served in Regulatory and Scientific Affairs at Procter & Gamble and was the Director of Pharmacy at Cambridge Memorial Hospital.

Tom Brogan

Tom Brogan brings 40 years of experience in aggregating anonymized healthcare data to create insights to support traditional pharmaceutical companies and health economic studies.  His innovations include a long list of applications that merge Real World Evidence with traditional healthcare protocols. Mr. Brogan is currently the CEO and Chairman at Vestrum Health, an electronic healthcare record data company. Vestrum delivers information systems to pharmaceutical manufacturers, physician practices, and other healthcare stakeholders. Before Vestrum Health, he was the founder of Brogan Consulting, which was acquired by IMS in 2010. It is now IQVIA, one of the world’s largest Contract Research Organizations (CROs). Mr. Brogan continued on with the company as Vice President of Global Oncology at IMS Health.

Prad Sekar

Mr. Sekar has spent over 15 years in clinical practice management. He has owned, operated, and consulted with outpatient multidisciplinary healthcare practices in Canada and the U.S. Mr. Sekar holds a BSc Hon from the University of Ottawa and an MBA from Hult International Business School. Following a career in establishing and operating successful medical practices, Mr. Sekar began consulting with Canadian medical regulatory bodies and agencies to support their network of practitioners in establishing and operating medical clinics. Mr. Sekar is also a recognized professor with a registered program for Medical Office Assistants under the Ontario Ministry of Education.

Kash Qureshi

As co-founder of CB2 Insights, Mr. Qureshi brings more than 20 years of extensive operational and entrepreneurial experience in sales, commercial financing, technology, and the last 10 years directly involved in healthcare, wellness, and health technology. An ardent cost-efficiency executive, Mr. Qureshi has focused on technology infrastructure, operational proficiencies, overall profitability, as well as acquisitions in a series of organizations throughout the healthcare sector.

The Top Reasons Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) Could Transform Healthcare

  1. Skylight Health Group U.S. Nasdaq: (SLHG) Canada TSX: (SLHG.V) has a business model dedicated to converting a potential $290B Primary Care market(1) from fee-for-service to value-based care.
  2. The once-in-a-century health disaster we’ve seen in the last 18+ months has exposed our excessive medical spending and how underserved primary care is. Thanks to government initiatives, value-based care growth has accelerated by an astounding 50%.(26)
  3. Skylight has a pipeline of deals of over $100mm+ in revenue priced between 3-7x EBITDA.(1) Its most recent acquisition of ACO Partners LLC(29) is yet another move in its mission to transform value-based care.
  4. In its most recent earnings report, Skylight reported record-setting financial results. Revenue increased 184% to $10.5 million, driven by acquisitions and organic growth, compared to $3.7 million for the same period last year and up 103% from $5.2 million for the first quarter of 2021.(25)
  5. Skylight recently uplisted to the Nasdaq. This could put it in a prime position for increased access to investments from retail and institutional investors globally, improved liquidity for its common shares, and optimizing its cost of capital.(24)
  6. Despite several potential catalysts, Skylight remains significantly undervalued compared to many peers. Based on its closing price as of September 10, 2021 ($3.07)(13) and several analyst price targets,(1) the SLHG stock may have between 176.87% to 242.02% of potential upside.

Source 1: https://skylighthealthgroup.com/view-presentation/
Source 2: https://www.globenewswire.com/news-release/2021/04/22/2215603/0/en/Skylight-Health-Files-Preliminary-Base-Shelf-Prospectus.html
Source 3: https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NHE-Fact-Sheet
Source 4: https://www.physicianleaders.org/news/how-many-patients-can-primary-care-physician-treat
Source 5: https://www.mackieresearch.com/client/research/document/24075?verif=4c58093ebec94706118e2dbc1be121e9ece09463&o=a8bc0b52
Source 6: https://finbox.com/NYSE:OSH/explorer/price_to_sales_fwd
Source 7: https://finbox.com/NYSE:AGL/explorer/price_to_sales_fwd
Source 8: https://finbox.com/TSXV:SHG
Source 9: https://stockcharts.com/freecharts/perf.php?SLHG,OSH,agl,prva
Source 10: https://skylighthealthgroup.com/mission/
Source 11: https://stockcharts.com/h-sc/ui?s=SHG.V&p=D&yr=1&mn=0&dy=0&id=p94466689760&a=946300625&listNum=3
Source 12: https://ca.finance.yahoo.com/quote/SLHG/key-statistics?p=SLHG
Source 13: https://stockcharts.com/h-sc/ui?s=SLHG&p=D&yr=0&mn=0&dy=5&id=p48571702378&a=1025147810&listNum=3
Source 14: https://www.barchart.com/stocks/quotes/SHG.VN/opinion
Source 15: https://www.biospace.com/article/skylight-health-group-announces-fourth-quarter-and-full-year-2020-results-/
Source 16: https://finbox.com/OTCPK:SHGF.F/explorer/altman_z_score
Source 17: https://finbox.com/OTCPK:SHGF.F/explorer/current_ratio
Source 18: https://finbox.com/OTCPK:SHGF.F/explorer/gp_margin
Source 19: https://finbox.com/OTCPK:SHGF.F/explorer/ni_proj_growth
Source 20: https://bit.ly/3t7uwte
Source 21: https://www.globenewswire.com/en/news-release/2021/04/05/2204190/0/en/Skylight-Health-Completes-Acquisition-of-Primary-Care-Clinic-Group-Rocky-Mountain-with-7-Locations-in-Colorado.html
Source 22: https://hitconsultant.net/2020/12/10/cityblock-health-1b-valuation-funding/#.YGs9OC1h1R1b
Source 23: https://sec.report/Document/0001759655-21-000023/
Source 24: https://www.globenewswire.com/news-release/2021/06/04/2242304/0/en/Skylight-Health-Group-s-Common-Shares-to-Begin-Trading-on-Nasdaq-on-Monday-June-7-2021-Under-Symbol-SLHG.html
Source 25: https://www.globenewswire.com/news-release/2021/08/16/2281533/0/en/Skylight-Health-Group-Reports-Record-Second-Quarter-2021-Financial-Results.html
Source 26: https://www.globenewswire.com/news-release/2021/02/11/2174382/0/en/Government-Initiatives-Helped-Boost-The-Value-Based-Care-Payment-Market-During-The-Pandemic-In-Which-It-Grew-At-A-Rate-Of-Almost-50.html
Source 27: https://medcitynews.com/2021/04/the-shift-to-value-based-care-has-accelerated-in-the-wake-of-the-pandemic/
Source 28: https://www.youtube.com/watch?v=5MXeY_GsjH4&ab_channel=SkylightHealthGroup
Source 29: https://skylighthealthgroup.com/2021/07/14/skylight-health-acquires-aco-partners/
Source 30: https://finbox.com/NASDAQCM:SLHG/explorer/price_to_sales_fwd

NASDAQ:SLHG
TSXV:SLHG
Company Contact

82 Hartwell St, Floor 2
Fall River, MA, 02721
(844) 644-8880

What They Do

Skylight Health Group is a health care services and technology provider focusing on providing both onsite and telemedicine services. With a network of over 30 primary and urgent care clinics across 13 states, Skylight also has a patient base exceeding 110,000 people. In addition, Skylight Health offers a subscription-based healthcare model for uninsured Americans, and a traditional fee-for-services model for insured patients covered by Medicare, Medicaid and other commercial plans.