N@N

PATIENT HOME MONITORING ANNOUNCES THE NOMINATION OF ADDITIONAL MEMBERS TO THE BOARD OF DIRECTORS

^{Published on 2010-10-27 04:12:56 - Market Wire}
 

SAN FRANCISCO, Oct. 27 /CNW/ - Patient Home Monitoring (PHM) (TSXV:PHM), a company focused on in-home cardiology healthcare services, today announced the appointment of Ed Berenblum, Edward Dooling and Chris Overall as observers to the Board of Directors. As part of the upcoming annual meeting of shareholders, an expanded board will be proposed with Mr. Dooling and Dr. Overall nominated to serve as independent Directors and Mr. Berenblum as an Executive Director.

Ed Berenblum has been Chief Executive Officer of PHM since July 12, 2010.

Edward Dooling is Executive Vice President and Chief Growth Officer of American Pathology Partners (APP), a nationwide pathology laboratory group he helped found. In 2008, New Enterprise Associates (NEA) invested $75 million in APP for acquisition-based growth. APP and PHM share many of the same potential customers. He is an expert in referral-based healthcare services sales and has a magnificent track record in creating fast growth companies in the sector. He was previously Vice President and General Manager of Anatomical Pathology at Ameripath, a pathology lab group sold to Quest for $1.23 billion. He served as a naval officer before his career in healthcare services. 

Dr. Christopher Overall is a Canada Research Chair and the Director, Proteomics Hub, University of British Columbia Centre for Blood Research. After receiving his Ph.D. from the University of Toronto, he was a Centennial Fellow in his post-doctoral work with Dr. Michael Smith, a Nobel Laureate in the field. He is a Visiting Scientist at Novartis Pharma AG, Basel, Switzerland. He has published over 160 papers, chaired several internal scientific conferences and has extensive knowledge of the scientific nature of blood components, biomarkers in blood and thinning agents such as Coumadin. Dr. Overall will contribute his deep knowledge of innovative products and services coming to market that might serve PHM's current patient base.

"As PHM grows, additional expertise will be needed on the board," said Michael Dalsin, Chairman of Patient Home Monitoring. "These gentlemen provide a broad array of expertise PHM can draw upon in penetrating new market segments and analyzing new opportunities. We are fortunate to involve them as observers in advance of their pending appointments to the Board"

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 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.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS STATEMENT.

%SEDAR: 00008298E