LAFAYETTE, LOUISIANA--(Marketwired - April 7, 2016) -

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Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a healthcare service company in the US and Canada, announced today that it has completed an asset acquisition in the Cincinnati, Ohio area.

Details of the Acquisition

PHM has closed a bolt-on acquisition focused on providing respiratory services to patients in the Ohio market where the Patient Aids division currently operates. The acquisition is expected to increase annual revenues by approximately $5.5 million with an estimated increase of approximately $1.5 million of Adjusted EBITDA⁽¹⁾. PHM paid approximately $2.6 million in cash for the acquisition and has more than $15 million in cash post-acquisition.

"This type of tuck-in asset purchase is an example of the types of strategic acquisitions we're going to continue to pursue," said Casey Hoyt, CEO of PHM. "The acquisition is immediately accretive, increasing revenue and EBITDA and we expect to recoup our investment in less than 18 months. These asset purchases are an easy way to increase market penetration in our existing markets for marginal costs and will continue to be a strategy to augment our organic growth."

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⁾ Adjusted EBITDA is defined as EBITDA excluding Stock Based Compensation and gains/losses on financial derivatives.

Adjusted EBITDA is a Non-IFRS measure the Company uses as an indicator of financial health, and excludes several items which may be useful in the consideration of the financial condition of the Company, including interest expense, taxes, depreciation, amortization, stock based compensation, good will impairment and gain/losses on financial derivatives.

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.