LAFAYETTE, LOUISIANA--(Marketwired - Jan. 24, 2017) -
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Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a healthcare service company with operations in the US, announced today that it has posted its financial results for the year ended September 30, 2016.
Highlights:
Full results have been posted on SEDAR.
"I am pleased to see all of the progress that has been made by each division and remain committed to the turnaround of PHM and our upcoming spinout," said Casey Hoyt, CEO of PHM. "Our focus continues to be on treating patients with the highest level of care and to grow profitability, all while focusing on building our liquidity. The Board and Management team feel that the upcoming spinout will drive shareholder value over the coming years."
PHM also announced that it will hold an investor conference call to review the quarter and annual results at 4:30 p.m. EST on January 24, 2017.
Conference Call Details
Participants from PHM will include Casey Hoyt (CEO) and Todd Zehnder (Chief Strategy Officer).
The details of the call are: | |
Tuesday, January 24, 2017 at 4:30p.m. EST | |
US & Canada Toll Free: | |
Dial In: (855) 886-8711 | |
Meeting ID Number: 579 620 66 |
Financial professionals are invited to call in to ask questions. To pre-register as a qualified caller to ask questions, please e-mail investorinfo@myphm.com by 1 p.m. EST Tuesday, January 24, 2017.
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 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. 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.
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.
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to PHM revenues for the first quarter expected to be slightly lower than the prior quarter, achieving an 8% EBITDA margin, expecting lower operating costs during 2017, specifically lower G&A expenses, a cash balance as of December 31, 2016 9% higher than the balance at September 30, 2016, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect PHM's current views and intentions with respect to future events, and current information available to PHM, and are subject to certain risks, uncertainties and assumptions, including, our ability to increase higher margin product sales while continuing to phase out certain product lines, our reduction of G&A expenses and bad debt expenses, assuming no accounting adjustments to our cash balance. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include credit, market (including equity, commodity, foreign exchange, and interest rate), liquidity, operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal, environmental, capital adequacy, and other risks.
Examples of such risk factors include the general business and economic conditions in the regions in which PHM operates; the ability of PHM to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; low profit market segments; disruptions in or attacks (including cyber-attacks) on PHM's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which PHM is exposed; the failure of third parties to comply with their obligations to PHM or its affiliates; the impact of new and changes to, or application of, current laws and regulations; 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; the overall difficult litigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by PHM; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in PHM's annual Management's Discussion and Analysis for the year ended September 30, 2016, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect PHM in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, PHM does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and PHM undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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.
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