SAN FRANCISCO, CALIFORNIA--(Marketwired - May 15, 2013) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home management for patients with chronic disease, today announced it has executed a contract for Coumadin management support services with the Yale Medical Group. Additionally, PHM has finalized the appointment of Bob Kusher as CEO and continues to move forward to consummate the previously announced transaction with LM Pharmacy Solutions.
The Yale Medical Group is a physician practice that provides services at one of the 10 largest hospital networks in the United States. The service contract covers services related to patients with specific cardiac indications. As cardiology groups continue to migrate to provide services to hospital locations, PHM plans to offer this new service to other large cardiology groups that have become affiliated with major US hospitals.
PHM's new Chief Executive Officer, Bob Kusher, said, "I am pleased that we have accomplished our long standing goal of revenue line diversification. This new contract is with one of the most prestigious university hospital cardiology groups in the country and can serve as a template for other customers looking for a high quality support service."
"The next year for PHM will be an exciting one," continued Mr. Kusher. "I am confident we will see growth through our newly initiated pharmacy channel, we can see a profit increase upon securing the rights to our own meter and we will be opportunistic about other revenue opportunities to increase shareholder value."
About PHM
PHM is a healthcare services company focused on providing in-home services for patients suffering from chronic disease. PHM's main revenue line is offered to patients on blood thinner medications such as Coumadin® or warfarin. PHM has recently announced it will embark on a process to expand services to its patient base in both the US and Canada.
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 operations, 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, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.
Neither the 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.
Contact Information:
Michael Dalsin
Chairman
Managing Director, Stanmore Capital Partners, Inc.
(323) 253-3055