Patient Home Monitoring Corp. Closes $67.3 Million Bought Deal Financing

LOS ANGELES, CALIFORNIA--(Marketwired - May 4, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Patient Home Monitoring Corp. ("PHM" or the "Company") (TSX VENTURE:PHM), a profitable company focused on rolling-up annuity-based healthcare service companies in the U.S., is pleased to announce that it has closed its previously announced bought deal private placement offering (the "Offering"). Mackie Research Capital Corporation was lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including GMP Securities L.P. and Beacon Securities Limited (the "Underwriters"), whereby the Underwriters purchased 44,850,000 units (the "Units") of the Company at a price of $1.50 per Unit, for gross proceeds to the Company of $67,275,000, which included the full exercise of the over-allotment option of 5,850,000 Units.

The securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being September 5, 2015. The net proceeds from the Offering will be used by PHM for acquisition purposes and general working capital.

In consideration for their services, the Underwriters received a cash commission of 5.0% of the gross proceeds of the Offering, and have received such number of compensation options exercisable into common shares, as is equal to 4.0% of the Units issued in the Offering.

About PHM

PHM is an acquisition-oriented, fast-growing and profitable company servicing patients with heart disease and other chronic health conditions. PHM is focused on acquiring companies in a highly fragmented and developing market of small privately-held companies servicing chronically ill patients with multiple disease states caused mainly by age and obesity. Because of the new and highly fragmented nature of the market, PHM is actively identifying and evaluating profitable, annuity-based companies to acquire at favorable prices for their patient databases and technical expertise. PHM's post-acquisition organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services and making life easier for the patient. The expected result is growing EPS with each acquisition and growing revenue and profits from the cross selling efforts.

Forward Looking Statements

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and anticipated events or results, are assumptions based on beliefs of PHM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue acquisitions, the ability of PHM to close acquisitions and effectively integrate such acquisitions, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, difficulty integrating newly acquired businesses, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected. There can be no assurance that forward-looking statements will prove to be accurate. The forward- looking statements contained herein are presented for the purposes of assisting investors in understanding PHM's plan, objectives and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.