Patient Home Monitoring Corp.

February 10, 2016 09:00 ET

Patient Home Monitoring Posts Record Financial Results for the Quarter Ending December 31, 2015; Date and Time for Quarterly Conference Call

Additions to the Board of Directors and Executive Personnel

LAFAYETTE, LOUISIANA--(Marketwired - Feb. 10, 2016) -


Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on the annuity-based healthcare services market in the US, will post its full financial results for Q1 on SEDAR on Thursday, February 11, 2016 in advance of its Quarterly Conference Call. The financials will demonstrate that revenues for Q1 increased more than 294% from the same quarter a year ago and 36% from the previous quarter.

PHM's Quarterly Conference Call will review the record quarter and update the market on plans for 2016 and beyond at 4 p.m. EST on Thursday, February 11, 2016.

PHM has also appointed new members to its Board of Directors and an addition to its Executive Personnel.

"The first quarter results show yet another record in top line revenues for the company and a sequential increase in our margins as we continue to integrate our business units," said Casey Hoyt, CEO of PHM. "We will certainly see the benefits of our organic growth strategy over time as we continue to make significant operational improvements in our business. We continue our strategy to focus on the high margin products while eliminating products that have reached the end of their profitability life cycle. With our organic growth strategy, we are more focused on profits and will reduce our focus on revenues."

Conference Call Details

Participants from PHM will include Casey Hoyt (CEO) and Todd Zehnder (Vice President - Finance).

The details of the call are:
Thursday, February 11, 2016 at 4p.m. EST
US & Canada Toll Free:
Dial In: (855) 886-8711
Meeting ID Number: 444 738 35

Financial professionals are invited to call in to register 24 hours in advance to ask questions. To pre-register as a qualified caller, please e-mail by 5 p.m. EST Wednesday, February 10, 2016.

Additions to the Board of Directors and Executive Personnel

PHM has appointed Casey Hoyt and Michael Moore to the Board of Directors effective immediately. Mr. Hoyt and Mr. Moore have led PHM's executive management team since June 2015 as Chief Executive Officer and President respectively, and will continue to do so in conjunction with their duties as members of the Board of Directors. Dave Costine will no longer be on the Board of Directors.

"I would like to thank Dave for his service as a member of the Board of Directors. Mike and I look forward to extending our duties to include membership on the Board in addition to our roles as Executives of the company," said Casey Hoyt.

PHM has also appointed Edward Brann as the Interim Chief Financial Officer. Edward Brann serves as PHM's M&A Banker and has extensive knowledge and experience in healthcare finance.

About PHM

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. PHM fills this need by delivering a growing number of specialized products and services to achieve these goals. PHM is a positive cash flow and profitable company that serves patients with heart disease and other chronic health conditions, this operation is a platform for acquisitions and organic growth. 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, 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. This press release refers non-GAAP and non-IFRS financial measures that do not have standardized meaning prescribed by GAAP or IFRS. PHM's presentation of these financial measures may not be comparable to similarly titled measures used by other companies. These financial measures are intended to provide additional information to investors concerning PHM's performance.

Contact Information