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PATIENT HOME MONITORING ANNOUNCES NEW CHIEF FINANCIAL AND OPERATIONS OFFICER

^{Published on 2011-03-16 05:10:38 - Market Wire}
 

SAN FRANCISCO, CA, March 16 /CNW/ - Patient Home Monitoring (PHM) (TSXV: PHM), a company focused on in-home cardiology healthcare services, today announced the appointment of Nathan Gilliland to the position of Chief Financial Officer and Chief Operating Officer.

"Nathan is a strong operator with a deep background in public company finance," said Ed Berenblum, Chief Executive Officer of PHM. "Nathan will manage the business operations of the company so that I can focus on revenue growth strategies. He has been consulting to PHM since July 2010 as we honed our high-margin, annuity-based business model. We are fortunate to have him on board as an officer of PHM."

Mr. Gilliland holds an accounting degree from California State University Fullerton and is a Certified Public Accountant. He brings experience in healthcare operations along with his blend of financial expertise including strategic mergers and acquisitions, revenue cycle management and public company compliance. He began his career in public accounting and transitioned into the private sector consulting on various mergers and acquisitions for private investment firms. His most recent experience involved a roll-up of sleep diagnostic centers that also provided in-home health equipment.

The PHM Board issued 1.5 million options to Mr. Gilliland with a strike price at $0.13, vesting 500,000 each in July 2011, 2012 and 2013 respectively, with a 5 year exercise provision.  In addition, pursuant to the Company's stock option plan, options have been issued to other employees, consultants or members of the Board of Advisors.  A total of 855,000 options with a strike price at $0.20, vesting over a three year period, with two years after vesting to exercise have been issued.  An additional 400,000 options with a strike price of $0.20 per share have been issued to a marketing consultant with vesting provisions that depend upon introductions to certain kinds of clinics.

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. PHM's unique value proposition, for cardiology groups that manage patients on Coumadin, focuses on systemization to enroll patients in PST. This 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.