Patient Home Monitoring Corp.
TSX VENTURE : PHM

January 14, 2015 09:00 ET

PHM Announces Several Promotions for Key Staff to Executive Level Positions; Additions to the Board of Directors and an Update on the Growing Acquisition Pipeline

LOS ANGELES, CALIFORNIA--(Marketwired - Jan. 14, 2015) -

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As a result of strong organic growth in 2014 and in anticipation of an active 2015 for acquisitions, Patient Home Monitoring Corp. (TSX VENTURE:PHM) ("PHM") today announced it will promote several key staff to executive level positions as well as add a member to the Board of Directors as it continues to build on its growth strategy.

PHM will transition David Hayes, current VP of Sales and former CEO of Resource Medical Group (RMG), to Chief Executive Officer on March 1, 2015. PHM acquired RMG in January of 2014 and David Hayes has led PHM's initiatives to increase sales among new and existing business lines since that time. Andrew Folmer will assume the title of Chief Financial Officer effective immediately. Mr. Hayes, Mr. Folmer and their team have worked closely for more than a year integrating several of PHM's acquisitions, resulting in double digit organic annual revenue growth.

After the transition, Michael Dalsin, current Chairman and CEO, will remain on as Chairman of the Board of Directors and will continue to have an active role in leading the company and communicating with capital markets. Roger Greene, Executive Director, has been promoted to Vice Chairman and will continue to have an active role in mergers and acquisitions as well as market strategy.

"2014 was a great year for PHM," said Michael Dalsin, Chairman of PHM. "Both David and Andy played a key role in this success as together they have led the operation through several successful integrations for over a year now. As we look forward at 2015, and with our current acquisition pipeline and balance sheet, we are well positioned to increase our rate of acquisitions. This growth will require continued focus on operations and integration and David is the right CEO for PHM going forward."

"As Chairman and a large shareholder, I will remain closely involved with PHM's strategy," continued Mr. Dalsin. "Roger and my continued daily involvement will ensure continuity for the team and strategy. There is tremendous growth potential in our strategy and I am as confident as I have ever been about PHM's future."

PHM has also appointed David Costine to the Board of Directors effective immediately. Mr. Costine has a BME from Cornell University and a MBA from Harvard Business School. Mr. Costine worked in the investment management division of Rothschild in the US before becoming the Managing Partner of Corporate Venture Partners, LP, an investment fund focused on small, fast growing businesses where half of his investments became publicly listed companies. Dr. Chris Overall has resigned from the Board.

"I would like to welcome Dave to the Board. PHM is fortunate to be able to attract someone of his caliber to our growing business. He is an experienced business leader who has deep experience as a board member for numerous fast growing companies that have become great success stories in the US public markets, and we look forward to his guidance. I would like to thank Chris Overall for his years of service on the Board. Chris joined the Board several years ago when PHM needed guidance on more scientific and technical issues relating to blood monitoring."

There will be a conference call held at 12:00pm EST today to introduce David Hayes to the market.

US & Canada Toll Free:

Dial In: (877) 716-6864

Meeting ID Number: 639 130 66

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.

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