Beacon Securities, December 8, 2020
Merida portfolio company Skylight Health Group (SHG-C; formerly CB2 Insights) operates a US multi-state health network comprised of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing.
Applying the telehealth, diversified healthcare group average of ~12x next fiscal year sales, Beacon initiated coverage on Skylight with a $1.40 target price and Speculative Buy rating. Beacon cites Skylight's acquisitions and evidence of the company’s ability to cross-sell primary care services into its legacy patient roster (once payor credentialing and contracting are completed) as key catalysts for the stock.
Skylight owns and operates a proprietary electronic health record system that supports the delivery of care to patients via telemedicine and other remote monitoring systems integrations. The company has a patient roster (including pending acquisitions) of over 130k patients across 15 states and over 30 clinics.
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