SAN FRANCISCO, CALIFORNIA--(Marketwire - Nov. 17, 2011) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home cardiology healthcare services, announced that it has secured a relationship to provide in-home INR testing services to a large and very prestigious cardiology group. Past enrollment statistics suggest that with this type of relationship PHM may enroll over 600 patients from this group alone. PHM has recently placed a large order from its meter supplier to fulfill this demand.
Additionally, PHM's management team has seen a consistency in the business for the last 9 months, enabling them to provide predictable financial models for the business for future quarters, details of which can be found on www.phmhometesting.com/investor/financial_models
To fulfill this potential increased demand, PHM anticipates completing a debt financing to finance the recent large meter order.
"We are seeing continued demand for our weekly monitoring services," said Dr. Jamie Gerber, PHM's CEO. "PHM has established itself as the premier service provider with large cardiology groups and I expect to see that trend continue the longer we successfully serve the market. Our ability to meet demand will be a function of the investments we make in in-home meters and customer acquisitions. While PHM is still a small company, I am hoping our cash flow as a direct result from meter placements can attract lenders to finance the demand of the market."
PHM is a healthcare services company focused on providing in-home testing for patients on blood thinner medications such as Coumadin® or warfarin. Medicare recently expanded reimbursement for in-home patient self testing (PST) of blood coagulation levels. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. Current enrollment compliance levels may not be predictive of future enrollment compliance levels. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, increasing revenue to their clinic while providing a higher standard of care for patients.
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, changes in US healthcare laws, coverage or budgets, 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 or accuracy of this release.