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Patient Home Monitoring (PHM) Announces An Update On Progress to Improve Gross Margin and Revenue Growth

May 24 2013 12:00AM

Marketwire

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SAN FRANCISCO, CALIFORNIA -- (Marketwired) -- 05/24/13 -- Patient Home Monitoring (PHM) (TSX VENTURE: PHM), a profitable company focused on in-home management for patients with chronic disease, today announced a number of actions it plans to undertake to increase profitability, improve capital market liquidity and increase shareholder value. PHM has finalized the acquisition of LM Pharmacy Solutions. PHM plans to launch a training program for pharmacists to enroll patients into weekly Coumadin® testing. Additionally, the PHM Board of Directors has authorized a non-brokered equity financing of up to $1.5 million in order to secure rights to a lower cost meter and testing supplies in order to dramatically increase cash flow and gross margin. The placement is also intended to widen PHM's shareholder base in order to improve the liquidity and engage strategic capital market participants.

About PHM

PHM is a healthcare services company focused on providing in-home services for patients suffering from chronic disease. PHM's main revenue line is offered to patients on blood thinner medications such as Coumadin® or warfarin. PHM has recently announced it will embark on a process to expand services to its patient base in both the US and Canada.

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.

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



Contacts:
Patient Home Monitoring
Michael Dalsin
Chairman
Managing Director, Stanmore Capital Partners, Inc.
(323) 253-3055





Source: Marketwire


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