LOS ANGELES, CALIFORNIA--(Marketwired - July 2, 2014) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a fast-growing and profitable company focused on rolling-up annuity-based healthcare service companies in the US and Canada, is well positioned to benefit from recently published articles in the New England Journal of Medicine. The studies suggest up to one-third of the strokes with undiagnosed causes may have resulted from atrial fibrillation, a condition monitored by PHM. In both studies, using a longer home monitoring duration significantly increased the number of patients prescribed anticoagulants as a treatment, which in turn suggests an increase in PHM's weekly home anticoagulant monitoring service market size.
"We continue to see strong evidence that home-based diagnosis and treatment saves patients lives and reduces overall costs to the US healthcare system," said Michael Dalsin, Chairman of PHM. "PHM is well positioned to take advantage of the resulting increase in demand."
Details of the Accelerated Expiry Date of Select Warrants
PHM announced that the expiry date of the 5,958,047 warrants outstanding exercisable at $0.22 per share, which have not yet been exercised, has been accelerated to August 1, 2014 pursuant to the terms of the Warrant Certificates. The warrants were originally issued pursuant to PHM's private placement of 20,295,176 units (each unit consisting of one common share and one-half of one warrant) which closed on August 15, 2013, August 30, 2013 and September 6, 2013. This is a result of the PHM share price achieving a volume-weighted average trading price greater than $0.30 for more than 10 consecutive trading days.
"This warrant acceleration, along with our existing strong balance sheet and positive cash flow from operations, ensures that we won't have to seek equity financing from the capital markets to close the next several acquisitions" said Michael Dalsin, Chairman of PHM. "Our pipeline is growing and we continue to work toward closing additional accretive acquisitions in the near term and expect that we can use debt if necessary for any larger deals."