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CINCINNATI, April 10, 2018 (GLOBE NEWSWIRE) -- Patient Home Monitoring Corp. (the “Company”) (TSXV:PHM), a healthcare services company with operations in the U.S., today announced its plans to change its corporate name to Protech Home Medical Corp.. The Company also announced the release of its new investor website for Protech Home Medical and its new investor deck with the updated corporate strategy.
The Company is changing its name to Protech Home Medical Corp. as reflection of its new management team and new strategy focused on utilizing disruptive technology to advance organic growth. “Protech Home Medical is a name that not only preserves our national brand recognition as PHM, but better reflects our business model focusing on technology and scale as our path toward amplified organic growth” said CEO and Chairman Greg Crawford. “I’m excited about this change, as are our staff, as we look to disrupt the current operational processes and better compete against other regional providers. We have our platform in place, exceptional staff at every level, and we are working to continue to produce positive results.”
PHM’s new investor website can be found at www.protechhomemedical.com
“I would encourage our investors to go see our new investor website which will be continually monitored and updated with the most recent press releases, conference calls, and highlight the earnings release date once published” continued Mr. Crawford. “We are committed to continued communication with our shareholders and have made changes to improve the transparency of our website and ease of navigation based on the feedback we have received.”
PHM’s new investor deck can be found at www.protechhomemedical/investordeck.com
“I believe that it is critical that not only our shareholders, but also our customers understand our vision and the world class operation we are building,” continued Mr. Crawford. “I’m confident that over the coming quarters our shareholders will be able see that traction in the reported financial results as we look to create positive trends of increasing revenue and profit this year.”
PHM will update the market on the timing of its corporate name change once all regulatory approvals have been secured.
In addition, the board of directors of the Company has approved the grant of 49,770,000 stock options, expiring in 10 years, to certain officers, directors and employees of PHM at an exercise price of $0.075 pursuant to the Company's fixed number stock option plan.
ABOUT PROTECH HOME MEDICAL
The Company provides in-home monitoring and disease management services for patients in the United States healthcare market. It seeks to continue to expand its offerings and to use technology to dominant market share in certain regional markets, through both acquisitions and taking market share directly from competitors, by deploying existing advanced logistics technologies that provide faster and more reliable service for the patients.
The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company’s organic growth strategy is to increase market share in its existing locations by making life easier on the patient, the rendering physician, and improving quality of care.
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 the Company, including: the Company intending on changing its name; the Company creating positive trends of increasing revenue and profit over the coming quarters; are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including, without limitation: governmental and TSX Venture Exchange approval of the proposed name change; the Company successfully identifying and negotiating definitive documentation with acquisition partners and receiving the necessary regulatory, director and shareholder approvals; and the Company having the capital necessary for acquisitions. 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. Examples of such risk factors include, without limitation: credit; market (including equity, commodity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company 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 the Company'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 the Company is exposed; the failure of third parties to comply with their obligations to the Company 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 the Company; 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 the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company 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, the Company 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 the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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.
For further information please visit our website at www.protechhomemedical.com, or contact:
Protech Home Medical Corp.