TORONTO, Feb. 26, 2021 — Skylight Health Group Inc (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, is pleased to announce the appointment of Andrew Elinesky as Chief Financial Officer.
Mr. Elinesky has a long and distinguished career in Finance and has served as CFO for multiple publicly traded companies in Canada and the United States. He comes with strong cross-border market experience and specializes in M&A and consolidation.
- Former SVP and CFO at McEwen Mining, a SEC registered multinational mining company listed on the NYSE and TSX with properties and operations in Canada, Argentina, Mexico, and the United Sates. Mr. Elinesky developed and implemented all aspects of company financial strategy, including respective disclosures and filings. He managed four equity financings: US$75M of marketed deals and US$25M of flow-through deals and obtained a US$50M secured debt facility after running a comprehensive worldwide bid process. On the M&A front, he led the execution of a $35M asset acquisition and took a lead role in a $40M company acquisition.
- Earlier in his career, Mr. Elinesky held various progressive Financial Accounting and Treasury Roles at major corporations including Heinz UK, Diageo, and Worldcom UK.
- Attended Oxford University where he achieved his Bachelor of Science, Applied Accounting. Chartered Professional Accountant (CPA, CGA) and Fellow of Association of Chartered Certified Accountants (FCCA).
- Treasurer and Board Member of Canadian Network for the Prevention of Elder Abuse
“Andrew is the perfect addition to our leadership team,” said Prad Sekar, CEO and Co-Founder of Skylight Health. “He has executed multi-million-dollar debt and equity financings, and has a depth of knowledge and experience with M&A. His strategic negotiation will be a great asset for us as we continue to consolidate the US primary care market, and his capital markets experience will ensure we remain focused on profitability and shareholder value.”
“I have a high degree of confidence in both our short- and long-term opportunities at Skylight Health,” said Mr. Elinesky. “I look forward to building on this excellent foundation and working closely with the team as we continue to prioritize our growth.”
Additionally, the Company has issued 200,000 options to Elinesky and 75,000 options to employees at yesterday’s closing price of $1.59 as part of its employee stock option plan.
About Skylight Health Group
Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state health network that comprises of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing. The Company owns and operates a proprietary electronic health record system that supports the delivery of care to patients via telemedicine and other remote monitoring system integrations. With a patient roster of over 155,000 patients, the Company’s operations servicing 16 states and continues to expand in services and locations both organically and by way of strategic acquisitions.
The Company primarily operates a traditional insurable fee-for-service model contracting with Medicare, Medicaid and other Commercial Payors. The Company also offers a disruptive subscription-based telemedicine service for the un/under-insured population who have limited access to urgent care due to cost.