Nova Ortho and Spine, LLC

Overview

Nova Ortho and Spine, LLC (Nova) is the primary operating company within a Nevada-domiciled healthcare holding structure that also includes Edge View Properties, Inc. The organization acquires and builds middle-market niche clinics focused on orthopedics, spine care, and pain management, operating with a partnership-driven culture that emphasizes service, teamwork, accountability, and performance.

Strategy

The acquisition and value strategy is built on three complementary pillars:

• Core cash flow: acquire, optimize, and manage physician practices to generate recurring revenue and improve operations.
• Asset acquisition: grow the footprint through ownership of real estate assets such as ambulatory surgery centers and orthopedic clinics.
• Finance: retain and manage personal injury practice accounts receivable to secure long-term income and improve sustainable profitability.

Operating companies

• Nova Ortho and Spine, LLC (acquired May 31, 2021): regional network of specialty and ancillary care facilities in Florida and Georgia, focused on traumatic injury evaluations, interventional pain management, specialty consultations, and EMC assessments. Nova concentrates on plaintiff-related care and serves uninsured patients.
• Edge View Properties, Inc. (acquired July 16, 2014): real estate subsidiary that holds multiple parcels with development potential.

Nova — healthcare operations (key facts)

• Facilities: 11 across Florida and Georgia as of December 31, 2025.
• Capacity: facilities operating at an estimated 35% capacity as of that date.
• Patient volume: approximately 270–375 patients per month across the 11 facilities.
• Employees: Nova employs 13 people (as of December 31, 2025).
• Revenue: all consolidated revenue for 2024 and 2025 was generated by Nova.
• The parent company reports ongoing losses and includes a going-concern note.

Edge View — real estate holdings

• Parcels include: five acres MDR with 12 platted lots, six acres HDR, and 12 acres agricultural in Lemhi County.
• Management currently has no active development plan and expects to sell the property in the future.
• Real estate assets are not currently a revenue source but are part of the capital deployment strategy.

Corporate structure and employees

• The group operates through Nova and Edge View as wholly owned subsidiaries.
• Consolidated headcount: 18 employees as of December 31, 2025 (15 full-time). Edge View has no employees.

Financial highlights

• Accumulated deficit: approximately $79.49 million as of December 31, 2025; approximately $72.95 million as of December 31, 2024.
• Net cash used in operating activities: approximately $2.853 million in 2025; approximately $2.766 million in 2024.

Market presence and capital structure

• The holding company is Nevada-domiciled.
• Common stock trades on the OTCQB Market and is thinly traded, subject to penny-stock rules.
• Two stockholders (including the CEO and a former Chairman) collectively control about 74% of voting power.
• There is no current plan to pay cash dividends; future issuances of debt or equity could dilute existing shareholders.

Customers and revenue model

• Nova’s patient base primarily consists of uninsured individuals involved in plaintiff-related injury claims.
• Revenue is largely linked to bodily injury, general liability, and personal injury protection claims.
• Collections are tied to settlements and insurance interactions, with receivable cycles commonly extending 12–24 months. Nova uses letters of protection to secure payment from settlements.

Governance, compliance, and risk

• The company operates under a broad set of healthcare regulatory requirements, including Stark Law, anti-kickback rules, the False Claims Act, HIPAA/HITECH, privacy and security requirements, and environmental/occupational safety obligations.
• Changes to Medicare/Medicaid, payor mix, and third-party reimbursement could materially affect operations.
• The company maintains a compliance program and cybersecurity governance and monitors regulatory developments and potential investigations.

Growth orientation

• Strategy focuses on organic expansion (increasing capacity and utilization at existing facilities) and selective acquisitions of outpatient orthopedic surgery centers and clinics across multiple states.
• The company intends to employ operating executives to lead current and future acquisitions and to provide public-market benefits to acquired entities.

Intellectual property

• Neither Nova nor Edge View owns intellectual property.

Summary

The company is a healthcare-focused holding vehicle operating through Nova and Edge View, pursuing growth through acquisitions and real estate ownership. It targets orthopedic, spine, and pain-management clinics serving plaintiff-related, uninsured patients, and emphasizes capital structuring and management of long-cycle receivables from personal injury settlements.