Mr. Mitchell Geisler reports

LEVELJUMP ANNOUNCES 2023 FINANCIAL RESULTS

Leveljump Healthcare Corp. has released its financial results for the year ended Dec. 31, 2023.

Financial and operational highlights

• Revenues from Canadian Teleradiology Services Inc. (CTS) were $12.6-million in 2023 compared with $9.3-million in revenues for 2022;
• Year-over-year revenue increase of 36 per cent;
• Closed the acquisition of four independent health care facilities providing diagnostic imaging services in the Calgary, Alta., area.

2023 financial results

• Revenues of $3.9-million in Q4 2023 and $12.6-million for the year 2023 with a net loss of $(216,708) for Q4 2023 and a net loss of $(2,208,117) for the year 2023;
• CTS subsidiary had a net profit of $1-million for the year 2023;
• Leveljump EBITDA (earnings before interest, taxes, depreciation and amortization) of $290,920 for Q4 2023 and $(221,329) for the year 2023;
• Leveljump adjusted EBITDA of $340,920 for Q4 2023 and $78,671 for the year 2023.

Subsequent to the year-end

Subsequent to the year-end, the company realized the proceeds from the sale of its investment in Real Time Medical.

Corporate updates

Pre-1954 Pharmacy Charter purchase

Further to a news release issued on April 26, 2024, the company wishes to announce that its proposed transaction to acquire a pre-1954 Pharmacy Charter has been cancelled. The transaction was terminated due to changes to the capital gains rates recently announced by the federal government which came into force on June 25, 2024. The parties were unable to agree on a revised consideration structure which would have helped preserve certain historical capital gains for the vendor.

Management comments

"CTS had a very strong year in 2023 with a solid net profit. We expect CTS to continue its growth pace in 2024. The acquisition of the four IHF's in Calgary added considerably to revenues and to the bottom line at CTS.

"We are now in a period of positive adjusted EBITDA and with the expected revenue stream from our recently completed acquisitions as well as our planned 2024 Yonge Sheppard centre opening, along with the growth of CTS we hope to move towards positive EBITDA and positive net income in 2024 and 2025," said Rob Landau, chief financial officer.

"We had a successful year, with double-digit growth, and new revenue streams with our in-patient clinics that helped increase gross margins," said Mitch Geisler, chief executive officer. "We have positioned ourselves well, specializing in critical care for patients. The company is now focusing on completing the building of our new Yonge Sheppard centre clinic and integrating our Alberta acquisition."

For further details on the results, please refer to Leveljump's management, discussion and analysis and consolidated financial statements for the year ended Dec. 31, 2024, which are available on the company's website and under the company's profile on SEDAR+.

A reconciliation of adjusted EBITDA to net income (loss) is as shown in the attached table.

About Leveljump Healthcare Corp.

Leveljump Healthcare provides telehealth solutions to client hospitals and imaging centres through its teleradiology division, as well as in person radiology services through its diagnostic centres. Leveljump focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities the company serves.

We seek Safe Harbor.