09:17 AM EDT, 10/29/2024 (MT Newswires) -- Nova Leap Health ( NVLPF ) , a home health care organization, on Tuesday said it will acquire two affiliated home care services companies in Nova Scotia for $1.4 million.

According to Nova Leap, the targets reported combined revenue of $2.6 million and net income of $235,000 for the 2023 fiscal year. The transaction, which is expected to be immediately accretive, is slated to close by the end of the year.

The purchase will be funded via a debt facility repayable over five years.

Nova Leap also provided an update on its acquisition of certain assets from a home care services business in Florida, for US$1.6 million, subject to closing adjustments. Of this, US$1.3 million is payable in cash on closing and US$320,000 is by way of a promissory note.