SAN FRANCISCO, CALIFORNIA--(Marketwire - Jan. 19, 2012) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home cardiology healthcare services, today released an overview of financial highlights for the fiscal first quarter of 2012, ending December 2011 in advance of an investor road show in New York and Montreal Jan 23-26.

FYQ1 2012 Highlights

  • Revenues in excess of $845,000 for the quarter.
    • Quarterly Growth: Up from $616,000 in the prior quarter, a 37% increase.
    • Annual Growth: Up from $134,000 in Q1 2011, a 530% increase over the same quarter in 2011.
  • 19,434 INR tests(1) recorded in FYQ1 2012.
    • Quarterly Growth: Up from 15,194 in the prior quarter, a 28% increase over the last quarter.
    • Annual Growth: Up from 3,824 INR test recorded in Q1 2011, a 408% increase over the same quarter in 2011.
    • Current Growth Rate: For the last month in the quarter, December 2011, PHM recorded 7,008 INR tests.
  • Shipped over 300 meters between November and December, historically slow months.
  • Achieved quarterly gross margin of over 60%
  • Generated positive Adjusted EBITDA before patient acquisition costs(2) (operating profit) to $220,000 up from $123,687 the prior quarter.

"We continue to have surging quarterly revenue growth with our annuity-based revenue model." Said Dr. Jaime Gerber, CEO of PHM. "This is our fifth quarter of commercial operations and it is exciting to compare this quarter, our fiscal first quarter of 2012, to our fiscal first quarter of 2011 and see 530% growth in revenue over just 12 months. I also think it is a tremendous accomplishment to have operational profitability just 12 months after we started commercial operations. 2012 promises to be another year of hyper growth for PHM.

PHM announced last quarter that is was seeking to secure $1,200,000 in convertible debenture financing. The proceeds of the financing are being used to purchase meters. Because PHM generated better than expected profits in the fiscal first quarter, the company decided to end the offering early, issuing a total of only $783,000.00. PHM anticipates it can secure traditional equipment financing debt in the coming months to finance further meter purchased. Details of each closing can be found on In connection with PHM's final anticipated closing, PHM will have paid a total of $40,980 and issued 273,200 broker warrants with a $0.15 strike price expiring two years from the date of grant. All securities issued pursuant to the financing will be subject to a four-month hold period.

Complete financial results for the full fiscal year 2011 and the fiscal first quarter 2012 will be available January 31, 2012 through a press release and filings on Sedar.

(1) International normalized ratio ("INR") tests and number of cardiology groups with patients testing are used as measures of current and future sales performance. Please refer to the "Non-GAAP Measures" section of PHM's MD&A for further discussion on these operational measures.

(2) Operational Profitability is defined as Adjusted EBITDA before patient acquisition costs. In calculating Adjusted EBITDA before patient acquisition costs certain items are excluded from net loss including interest, taxes, amortization, non-cash stock-based compensation and patient acquisition costs. Please refer to the "Non-GAAP Measures" section of PHM's MD&A for further discussion on these operational measures at

Reconciliation of Non-GAAP measures:

Q4 FY 2011 Q1 FY 2012
Adjusted EBITDA $ 123,687.00 $ 220,000.00
Less: Amortization $ 50,446.00 $ 59,000.00
Less: Stock Based Compensation $ 17,054.00 $ 29,000.00
Less: Patient Acquisition Costs $ 352,743.00 $ 294,000.00
Net Loss $ (296,556.00 ) $ (162,000.00 )

While the Q1 figures have not been finalized or released, PHM does not expect any material adjustments.

About PHM

PHM is a healthcare services company focused on providing home-based monitoring services and supplies for cardiology patients. PHM's entry-point service monitors patients on blood thinner medications such as Coumadin(r) or warfarin. Medicare recently expanded reimbursement for this in-home service. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. 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. PHM plans to lever its position as a value-added service provider to expand into other home-based services for these patients and their referring physicians.

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 or accuracy of this release.

Contact Information:

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