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NLH.V - Nova Leap Health

J’ai parlé très brièvement au CEO de Nova Leap Health en automne dernier et j’ai beaucoup aimé son approche down to earth, ce qui me semble être de l’humilité et le fait qu’il se soit lancé en affaires pour des raisons personnelles (son père étant atteint d’Alzheimer ou de démence).

Je n’ai pas encore de position mais j’aime où l’entreprise s’en va.

Connaissez-vous l’entreprise ?

Nova Leap Health Corp. Posts Record Financial Results for Second Quarter 2019

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 centered focus, particularly those requiring dementia care. Nova Leap achieved 877% revenue growth in 2018 through a geographically focused expansion plan and 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 4 different U.S. states: Vermont, New Hampshire, Massachusetts, and Rhode Island as well as Nova Scotia, Canada.

President & CEO’s Comments on Overall Performance

“As we announce another quarter of record results for Nova Leap, I thought it would be an appropriate time to revisit the Company’s performance since we began our accelerated acquisition program almost two years ago in September 2017”, stated Chris Dobbin, President & CEO. “What a two years it has been.

Over the course of the past eight quarters, Nova Leap has completed eight acquisitions – six in New England and two in Nova Scotia. With so many acquisitions, successful integration and execution are critical components of enhancing value for all stakeholders involved in the Company including clients, staff, shareholders and members of the communities in which we operate.

Our People
We are in a people business and I believe that exceptional people lead to exceptional results. At the time of this writing, our Company operates in two countries, four states and one province. I feel fortunate to be surrounded by some of the most dedicated individuals that I have had the pleasure of meeting.

The consolidation of smaller businesses within one larger organization has led to new opportunities for our employees, internal promotions, a career path with increasing responsibilities for those who so desire, and cross training for enhanced skillsets.

We aspire to be the best dementia care home care provider. Employee training is a priority. We have been rolling out, across both countries, enhanced dementia training for all our care professionals. A large percentage of our clients live with dementia and our care professionals have been provided new techniques which allows them to provide enhanced care in the home or in facility settings. As I travel to our various locations, the common theme is how thankful our care professionals have been for the ability to learn new and valuable techniques.

Pricing Power
The Company owns private duty home care agencies. The majority of our revenue is referred to as “private pay” meaning the families receiving home care service pay an hourly fee if not covered through Veterans Affairs or long-term care insurance policies. This gives us the ability to adjust per hour billing rates upward to market without restrictions imposed by various government funded reimbursement plans.

Continuous Process Improvement
Many of the smaller agencies we acquire lack the internal personnel or financial resources necessary to gain significant efficiencies of scale. Nova Leap’s involvement changes that aspect. Our agencies benefit from learning from one another. Best practices are implemented, processes are improved and waste (whether time or money) is reduced.

Scaling by way of acquisition has allowed the Company to share internal administrative functions across agencies. Certain functions relating to insurance, benefits, tax and legal support have been centralized so operating teams can focus on providing the best possible service to our clients. Common management has been introduced across agencies as we have achieved geographical concentration.

The Use of Technology
Central to our ability to scale efficiently has been the use of technology. While our home care agencies provide services in a variety of locations, we are all connected through the use of our technology platforms which allow us to better provide scheduling, billing, payroll and accounting functions across the organization.

The Result
With so many facets of our ever-changing business, what does this mean for Nova Leap? I believe the past couple of years has been a tremendous success. In addition to an engaged staff, at the end of the second quarter of 2019, annualized organic EBITDA growth was 64%, as compared to 2018 results, an exceptional accomplishment by our team. While we acknowledge the accomplishments achieved to date, we will continue with our plans to grow and our geographical footprint will continue to expand.”

3 J'aimes