Patient Home Monitoring Posts First Quarter Financials and Conference Call Information

LAFAYETTE, LOUISIANA--(Marketwired - Feb. 22, 2017) -

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Patient Home Monitoring Corp. (the "Company") (TSX VENTURE:PHM), a healthcare services company with operations in the U.S., announced today that it has posted its financial results for the quarter ended December 31, 2016.

Highlights:

• Revenues for the quarter ended December 31, 2016 were approximately $31,035,000 and gross margin was $24,246,000, or 78%. Adjusted EBITDA was approximately $4,594,000, or 15% which is the highest amount since the first quarter of 2016.

• The Company continued to drive expenses down as shown by the 8% drop in total general and administrative (G&A) expenses (excluding bad debt) from the quarter ended December 31, 2015. Excluding bad debt expense, G&A expenses continued to decline from the quarter ended September 30, 2016 which is a result of the ongoing reduction of salary expense and overall operating costs.

• As of the end of the quarter, the Company had a cash balance of $7,852,000, accounts receivable balance of $23,195,000 and current liabilities of $18,604,000.

• The Company had positive Adjusted EBITDA, increased its cash balance, lowered its accounts receivable balance and increased its working capital which shows that it is generating positive cash flows.

• Revenues for the second quarter of 2017 are expected to be approximately $31.5-32.5 million which is slightly higher than the first quarter. Additionally, the Company is expecting to generate a consolidated Adjusted EBITDA margin percentage similar to the current quarter depending on transaction costs and other seasonal trends in the industry.

The interim financial statements of the Company for the three months ended December 31, 2016 and 2015 and accompanying Management's Discussion & Analysis (MD&A) are available at www.sedar.com.

"I am pleased to announce these quarterly results, as we have now begun to see the financial benefits of all of the hard work done over the last 18 months," said Casey Hoyt, CEO of the Company. "Our job is to continue to build on the positive momentum and to serve more patients, become more efficient and finish the spinout transaction in a timely manner."

The Company also announced that it will hold an investor conference call to review the quarter results at 4:30 p.m. EST on February 22, 2017.

Conference Call Details

The details of the call are:	Wednesday, February 22, 2017 at 4:30 p.m. (EST)
US & Canada Toll Free:	Dial In: (888) 364-3107
	Meeting ID Number: 370 52 33

Financial professionals are invited to call in to register in advance to ask questions. To pre-register as a qualified caller, please e-mail investorinfo@myphm.com by 9:00 a.m. (EST) on Wednesday, February 22, 2017.

About Patient Home Monitoring Corp.

The explosive growth in the number of elderly patients in the US healthcare market is creating pressure to provide more efficient delivery systems. Healthcare providers, such as hospitals, physicians and pharmacies, are seeking partners that can offer a range of products and services that improve outcomes, reduce hospital readmissions, and help control costs. The Company fills this need by delivering a growing number of specialized products and services to achieve these goals. The Company serves patients with heart disease and other chronic health conditions, this operation is a platform for acquisitions and organic growth. The Company 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. The Company'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.

Non-GAAP Measures

This press release refers to "Adjusted EBITDA" which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company's presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This financial measure is intended to provide additional information to investors concerning the Company's performance. Adjusted EBITDA is defined as EBITDA excluding stock based compensation and gains/losses on financial derivatives. Adjusted EBITDA is a Non-IFRS measure the Company uses as an indicator of financial health, and excludes several items which may be useful in the consideration of the financial condition of the Company, including interest expense, taxes, depreciation, amortization, stock based compensation, good will impairment and gain/losses on financial derivatives. The following table shows our Non-IFRS measure (Adjusted EBITDA) reconciled to our net loss for the indicated periods:

	Quarter Ended December 31, 2016
Net loss	$ (4,050)
Add back:
Depreciation and amortization	7,664
Interest expense (net of interest income)	450
(Recovery) Provision for income taxes	487
EBITDA	4,551
Stock-based compensation	173
Loss (gain) on financial derivatives	(130)
Adjusted EBITDA	$ 4,594

Management uses these non-GAAP measures as key metrics in the evaluation of the Company's performance and the consolidated financial results. The Company believes these non-GAAP measures are useful to investors in their assessment of the operating performance and the valuation of the Company. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors and, in order to assure that all investors have access to similar data, the Company has determined that it is appropriate to make this data available to all investors. However, non-GAAP financial measures are not prepared in accordance with GAAP, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, revenues for the second quarter expected to be slightly higher than the prior quarter at $31.5-$32.5 million and achieving a similar EBITDA margin to the first quarter, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including, our ability to increase higher margin product sales while continuing to phase out certain product lines, and our reduction of G&A expenses and bad debt expenses. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include credit, market (including equity, commodity, foreign exchange, and interest rate), liquidity, operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal, environmental, capital adequacy, and other risks. Examples of such risk factors include the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; 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; the overall difficult litigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended September 30, 2016, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

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.