A healthcare company just completed its acquisition of APEX Medical in Colorado. Shares of Skylight Health (OTCQX:SHGFF) are trading higher as the acquisition of the $2.5 Million in revenue and positive EBITDA APEX came to a close, as this should strengthen Skylight’s clinical footprint in Colorado. This is the fourth completed transaction of the five deals that were announced in 2020, with acquisitions of clinics taking place in Texas, Washington and Tennessee.
Skylight Health Group Inc. is engaged in the business of providing medical care services. The company offers fixed membership health plans for a variety of diseases that include Cold, Rashes, Pneumonia, Body Aches, Earache, Kidney Stones, Allergies, Insomnia, High Blood Pressure, Snoring, Sore Throat, Vomiting, Eczema, Hair Loss, Diarrhea, and Others.
Traders seemed to be excited on the news as shares traded up to $1.10/share (+18.3%) following the announcement. The stock has been on the rise since mid-last year, and this move happened after the price found support after hitting the 10-day SMA.