Patient Home Monitoring Corp.
TSX VENTURE : PHM

February 07, 2014 09:00 ET

Patient Home Monitoring (PHM) Appoints Andrew Folmer as New Chief Financial Officer

SAN FRANCISCO, CALIFORNIA--(Marketwired - Feb. 7, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on rolling-up annuity-based healthcare service companies in the US and Canada, today announced that it has appointed Andrew Folmer to the position of Chief Financial Officer.

Mr. Folmer is a seasoned financial executive and leader. He has 30 years of experience in finance, including previous work as a CFO, and 15 years of experience in the healthcare industry. He is a CPA with Big Four accounting knowledge. In private industry, he has helped build companies in the pharmacy and pharmaceutical businesses. Mr. Folmer has served as a key leader of a $5 million startup that grew and sold to a Fortune 50 company for $100 million, and has also managed day-to-day functions in Treasury, Operations, Sales and Marketing, Human Resources and Information Technology. Mr. Folmer holds a BS degree in Accounting from Elizabethtown College, where he is a member of the Baseball and Tennis Hall of Fame.

"With the recent growth of PHM, we have been able to attract a talented and seasoned Chief Financial Officer, who will be a key player in managing our growth and integration of acquired companies," said Michael Dalsin, Chairman of PHM. "He has extensive experience in finance and operations, which he can use as a basis for not only controlling costs, but also shaping the Company for future growth."

About PHM

PHM is currently a positive cash flow and profitable company that serves patients with heart disease and other chronic health conditions, and will act as a platform for acquisitions. PHM is focused on 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 working to identify and evaluate profitable, annuity-based companies to acquire their patient databases and technical expertise at favorable prices. 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.

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.

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 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.

Contact Information

  • Patient Home Monitoring Corp.
    Michael Dalsin
    Chairman
    (323) 253-3055