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PATIENT HOME MONITORING ANNOUNCES CHANGE IN FISCAL YEAR-END

^{Published on 2010-08-26 13:10:45 - Market Wire}
 

SAN FRANCISCO, Aug. 26 /CNW/ - Patient Home Monitoring (PHM) (TSXV: PHM), formerly International Health Partners Inc. (IHP), a company focused on in-home cardiology healthcare services, today announced that its board of directors has approved a change in the Company's fiscal year-end from June 30 to September 30, effective June 30, 2010, to provide greater transparency to PHM's financial reporting.

PHM expects to dispose of its medical clinic, inherited from IHP through the previously announced reverse take-over, by September 30. The new fiscal year would then begin on October 1, 2010, when the company becomes a pure home monitoring service company. This shift in reporting timelines will provide a clear basis for comparing PHM's financial performance and growth year over year.

Additional information concerning the Acquisition may be found in the Filing Statement dated April 30, 2010 prepared in accordance with the requirements of the TSX Venture Exchange and filed with the Exchange and applicable securities regulators on SEDAR. The Filing Statement is publicly available under PHM's profile at [ www.sedar.com ].

About PHM

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 of enrolling patients in PST. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, 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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