Patient Home Monitoring Corp. (PHM) Announces it is on Pace for Record Quarterly Revenue and Profit Growth in Reporting Figures for October and November 2013
SAN FRANCISCO, CALIFORNIA--(Marketwired - Dec. 18, 2013) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on rolling-up profitable healthcare service companies in the US and Canada, today announced it is on pace for record revenue and EBITDA figures for the quarter ending December 31, 2013. PHM also announced a significant milestone in serving its 30,000th patient in its pharmacy channel diabetes program.
On Pace for Record Quarterly Revenue and EBITDA
For the combined months of October and November 2013, PHM generated revenue in excess of $1,650,000. PHM has increased EBITDA and profit as a result of this growth in revenue. This puts PHM on track for triple digit quarterly revenue growth this quarter.
30,000th Patient Served Via Pharmacy Network
HHC, PHM's first acquisition, has serviced its 30,000th diabetes patient through the pharmacy channel. The diabetes market is a large and growing market in the US. With over 25 million people currently in need of diabetes supplies and support, and over 70 million people likely to suffer from diabetes in their lifetime, PHM is well positioned to take advantage of this massive market growth.
"We are poised for a record quarter of sales and profits," said Bob Kusher, CEO of PHM. "We continue to focus our energies on cross selling and acquiring quality companies that can increase our patient database."
About PHM
PHM is a profitable and cash flow positive company servicing patients with chronic diseases, and will act as a platform for acquisitions. 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.