Press release from Marketwire
Patient Home Monitoring Corp. (PHM) Announces it is on Pace for Record Quarterly Revenue and Profit Growth in Reporting Figures for October and November 2013
PHM Reaches Significant Milestone with 30,000 Patients Served in its Pharmacy Channel Diabetes Program
Wednesday, December 18, 2013
Patient Home Monitoring Corp. (PHM) Announces it is on Pace for Record Quarterly Revenue and Profit Growth in Reporting Figures for October and November 201309:00 EST Wednesday, December 18, 2013
SAN FRANCISCO, CALIFORNIA--(Marketwired - Dec. 18, 2013) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on rolling-up profitable healthcare service companies in the US and Canada, today announced it is on pace for record revenue and EBITDA figures for the quarter ending December 31, 2013. PHM also announced a significant milestone in serving its 30,000th patient in its pharmacy channel diabetes program.
On Pace for Record Quarterly Revenue and EBITDA
For the combined months of October and November 2013, PHM generated revenue in excess of $1,650,000. PHM has increased EBITDA and profit as a result of this growth in revenue. This puts PHM on track for triple digit quarterly revenue growth this quarter.
30,000 th Patient Served Via Pharmacy Network
HHC, PHM's first acquisition, has serviced its 30,000th diabetes patient through the pharmacy channel. The diabetes market is a large and growing market in the US. With over 25 million people currently in need of diabetes supplies and support, and over 70 million people likely to suffer from diabetes in their lifetime, PHM is well positioned to take advantage of this massive market growth.
"We are poised for a record quarter of sales and profits," said Bob Kusher, CEO of PHM. "We continue to focus our energies on cross selling and acquiring quality companies that can increase our patient database."
PHM is a profitable and cash flow positive company servicing patients with chronic diseases, 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.
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 or acquisitions, 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, availability of qualified senior management, risks from change in ownership or unfamiliarity with new markets, 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.
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Patient Home Monitoring