Nova Leap buys Nova Scotia home care firm for C$3.5M
What's the deal? Nova Leap Health Corp., a North American home care services provider listed on the TSX Venture Exchange, has acquired Parkwood Home Care Limited for C$3.5 million. The deal, which closed on May 1, was made through Nova Leap's Canadian subsidiary, Earth Angels Home Care.
Parkwood, based in Nova Scotia, reported unaudited revenues of roughly C$3.8 million and adjusted EBITDA of about C$785,000 for its 2025 fiscal year. Nova Leap paid C$3.2 million in cash at closing and issued a C$300,000 promissory note repayable over three years.
The cash portion was funded by a C$2.2 million draw on Nova Leap's acquisition debt facility and C$1 million from cash on hand. The new debt carries a five-year repayment term.
Why now? Nova Scotia was Nova Leap's fastest-growing market last year, delivering record results in 2025, according to chief executive Chris Dobbin. Acquiring Parkwood lets the company build density in a region it already knows well.
"It enhances our ability to scale efficiently, deepens our presence in the province and expands our role across the continuum of care," Dobbin said.
What could go wrong? After the draw on its credit facility, Nova Leap has up to $3.05 million (USD) in remaining available credit. That limits how much firepower it has for further acquisitions without raising new capital or generating significant free cash flow. Integration risk is also ever-present in roll-up strategies — melding Parkwood's team and operations into the Earth Angels brand will need to go smoothly to justify the price tag.
The signal: Home care is a sector ripe for consolidation. An ageing population across North America is driving demand for services that help people stay in their homes rather than move into institutional care. Small, independently operated agencies like Parkwood are attractive targets for acquirers seeking to build regional scale.
Nova Leap's playbook — buying local operators, layering them onto an integrated platform, and pursuing operational efficiencies — mirrors a broader trend of platform-style roll-ups in fragmented healthcare services markets. The question is whether the company can keep finding deals at reasonable multiples while maintaining service quality as it grows.
Read more: globenewswire.com
