Healthcare Staffing Report: May 12, 2022

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Premier Health expands footprint with Ontario acquisition

Premier Health of America Inc. (TSX: PHA), a Canadian Healthtech company that provides healthcare staffing, acquired Canadian Health Care Agency, a firm that provides nursing staff to northern Canada health organizations.

The acquisition of Canadian Health Care Agency starts Premier’s expansion outside of the Quebec province.

“In addition, the Cambridge based-agency provides us with a good management infrastructure in Ontario that will serve as a base to continue our expansion in this province,” said Premier Health CEO Martin Legault. “This is a strategy we are expecting to follow in other provinces as well.”

The deal calls for total consideration of C$10.5 million to C$14.5 million payable in cash. Of that, C$379,460 will be paid at closing, C$3 million payable over two years subject to achievement of EBITDA objectives and C$1 million payable after closing, linked to isolation EBITDA if any.

Canadian Health Care Agency, founded in 2001, is based in Cambridge, Ontario. It posted revenue of C$34.5 million in its last fiscal year ended Jan. 31.