LOS ANGELES, CALIFORNIA--(Marketwired - Aug. 31, 2015) - /P>


Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on rolling-up annuity-based healthcare service companies in the US and Canada, today announced the 9th consecutive quarter of revenue and profit growth. The company also provided highlights of its financial results for the third quarter of fiscal 2015 ending in June.

FYQ3 2015 Highlights

Growth Milestones

  • Completed more than $167 million in transactions for the Quarter.
    • Completed $67,275,000 equity financing, building the balance sheet for further acquisitions and organic growth.
    • Closed a $100,175,545 acquisition of Sleep Management, a company with annualized revenues of $42,500,000 and EBITDA margins in excess of 30%.
  • Increased annualized run-rate revenues to $116,000,000 in June compared to $62,148,000 in March.
  • Appointed Casey Hoyt as Chief Executive Officer.

Increased Revenue

  • Revenue for the quarter rose to $19,354,728, a 48% increase from the previous quarter and a 255% increase year over year.
    • Revenues included only 1 month of Sleep Management.

Improved Profitability

  • Net income before stock-based compensation, transactional and non-recurring costs rose to $3,452,620(2), a 113% increase from the previous quarter and a 285% increase from the same quarter last year. (3)
  • Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) (1) before transactional and nonrecurring cost rose to $4,600,591(2), a 61% increase from the previous quarter.(3)

Full results are available on sedar.com.

PHM is rolling-up a large and fragmented market of small, profitable businesses providing healthcare products and services to chronically ill patients. The companies are acquired for their technical and market expertise in certain product and service lines, as well as their patient databases. Once acquired, PHM works to offer these newly acquired services to its entire patient base, thereby increasing revenue per patient and achieving organic post acquisition revenue growth and profits.

"This was truly a transformational quarter for PHM," said Casey Hoyt, CEO of PHM. "PHM's vision and goals have never changed, we're only adding to our arsenal. Not only will we continue to make accretive acquisitions that will benefit our shareholders, we will continue to cross-sell to increase revenues post acquisition. In addition to that, PHM will benefit from our organic growth strategy. We feel our organic growth platform will increase revenues in PHM's existing businesses. This approach resulted in Sleep Management's revenues growing 100% year-over-year over the last three years. It's a proven model that works and it should have an impact on PHM's bottom line going forward. We have made investments since closing in order to increase organic growth that will have a positive financial impact as soon as the upcoming quarter. This opportunity is the key reason why Mike and I decided to take take the helm of PHM and lead the company to the next level."

"There is tremendous potential in this quarter trillion dollar market," continued Casey Hoyt. "I believe our competitive advantage in this fast growing market will provide opportunities for significant revenue and profit growth over the coming quarters and that we have really just begun in terms of building PHM to the vision the management team and Board share."

"This is our ninth consecutive quarter of record revenues and profits," said Michael Dalsin, Non-executive Chairman of PHM. "And this quarter is certainly the most crucial quarter PHM has ever had. By raising $67 million and closing a $100 million deal, all in the same quarter, we have moved PHM into the next phase of its life cycle. As part of this transformation, we continue to work on finishing the process for up-listing onto a US exchange and are currently finalizing our process for a senior listing in Canada."

PHM will host an interactive Q&A earnings call at 5 p.m. EST on Wednesday, September 2, 2015 to provide in depth data and analysis about the quarterly results.

Presenters from PHM will be Casey Hoyt (CEO), Andrew Folmer (CFO), Edward Brann (M&A Banker for PHM) and Michael Dalsin (Non-executive Chairman).

The details of the call are:

Wednesday, September 2, 2015 at 5 p.m. EST
US & Canada Toll Free:
Dial In: (855) 886-8711
Meeting ID Number: 282 874 69

Financial professionals are invited to call in to register 24 hours in advance to ask questions. To pre-register as a qualified caller, please e-mail dwilson@myphm.com by 5 p.m. EST Tuesday, September 1, 2015.

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.

(1) Throughout this document, "Adjusted EBITDA" and "Adjusted EBITDA before patient acquisition costs" are used as profitability measures. Please refer to the "Non-IFRS Measures" section of this MD&A for further discussion on these measures.

(2) The $100,175,545 Sleep Management acquisition and $67,275,000 equity financing in the quarter created certain internal transactional costs and one-time non-recurring costs, including legal, banking and due diligence expenses and other adjustments, for the quarter totaling $1,603,303. See MD&A for details.

(3) Excluding Amortization of Intangible Assets, Stock Based Compensation, and Financing Expenses

Forward-Looking Statements

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, difficulty integrating newly acquired businesses, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected. This press release refers non-GAAP and non-IFRS financial measures that do not have standardized meaning prescribed by GAAP or IFRS. PHM's presentation of these financial measures may not be comparable to similarly titled measures used by other companies. These financial measures are intended to provide additional information to investors concerning PHM's performance.

Contact Information:

Patient Home Monitoring Corp.
Dennis Wilson
Corporate Affairs
(949) 346-9488