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Patient Home Monitoring (PHM) Announces Vision and Plan for 2013 and Chairman's Letter to Shareholders
By: Marketwire .
Feb. 5, 2013 06:56 PM
SAN FRANCISCO, CALIFORNIA -- (Marketwire) -- 02/05/13 -- Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home cardiology healthcare services, today has released a Letter to Shareholders from its Chairman of the Board, Michael Dalsin.
To view the letter, please visit PHM's investor website at: www.phmhometesting.com/investor/ChairmansLetter2013
In the Letter, Mr. Dalsin describes the plan and vision for PHM in the coming year and beyond.
Highlights of the Letter:
PHM has achieved a profitable quarter and is now in a position to evolve into a more dynamic business.
The vision is to transform PHM into a multinational, multi-product company focused on managing the in-home needs for patients suffering from chronic diseases.
The plan includes these next steps:
-- Secure a partnership to penetrate the Canadian market for in-home chronic disease management. -- Reduce PHM's capital costs in supplying in-home medical supplies. -- Through partnership and merger, enter into new markets complimentary to Coumadin testing. -- Continue to drive Coumadin testing market penetration in the US. -- Bring in new executive leadership. Dr. Gerber will retire from the CEO position when a successor is found, but will become an advisor to Stanmore Capital Partners.
"PHM is at an inflection point." Mr. Dalsin, Chairman of the Board of Directors for Patient Home Monitoring said, "The basic business plan has succeeded, PHM can generate strong cash flow and significant profits from its single service line. With our initial plan of profitability within our core service complete, we plan to transform PHM into a more dynamic business that can take advantage of the shifts in both the US and Canadian healthcare markets. We believe future rewards in the healthcare services market are centered around containing costs by treating chronic disease effectively through the lowest cost method; home-based care. Specifically, in the quarters to come, we plan to position PHM into a multinational, multi-product company capturing revenues in the growing market of in-home service for patients suffering from chronic diseases."
"We will bring in new executive leadership to make this happen," Mr. Dalsin continued, "We are looking for leadership with experience in capital markets communications, merger integration and multi-product line management. We plan to execute this expansion in 2013 while continuing to grow the Coumadin testing line."
PHM is a healthcare services company focused on providing in-home testing for patients on blood thinner medications such as Coumadin® or warfarin. Medicare recently expanded reimbursement for in-home patient self testing (PST) of blood coagulation levels. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, increasing revenue to their clinic while providing a higher standard of care for patients.
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, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.
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.
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