Patient Home Monitoring Announces Sales Pipeline Update

SAN FRANCISCO, CA, Jan. 27 /CNW/ - Patient Home Monitoring (PHM) (TSXV:PHM), a company focused on in-home cardiology healthcare services, today announced an update to their customer pipeline.  Ed Berenblum, CEO of PHM, will be conducting meetings in and around Toronto to provide an update to investors and research analysts.

"Since November, we have made great progress in converting potential sales leads into customers," said Ed Berenblum.  "We have increased our patient enrollment base from 4,800 patients, which we are actively enrolling, to 9,800 in just three months. While we expect to eventually enroll at least 20 percent of these patients, we continue to focus on converting large cardiology-group leads into customers actively enrolling their patients with our service."

"With this growth in our customer pipeline, I am confident our goal of becoming a self sustaining business by next quarter is achievable."

The Customer Pipeline

The groups listed below already have patients testing with PHM and continue to work with PHM to recruit and train more patients.

              

November 2010       January 2011    
Clinic Location   Patients   Clinic Location   Patients
Illinois 1   3,100   Illinois 1   3,100
Connecticut 1   900   Connecticut 1   900
Nevada 1   900   Nevada 1   900
Total   4,900   Southern California 1   4000
        Southern California 2   400
        Northern California 1   300
        Connecticut 2   200
        Total   9,800

Cardiology Group Leads Pipeline

PHM organizes qualified leads into three categories to project the timing and likelihood of acquiring a new client. The categories are listed in order closest to closing.

  • Awaiting Patient Files. PHM has a signed agreement with the group and is waiting for the master patient file with which to start the enrollment process.
  • Finalizing Implementation Agreement. PHM is negotiating an agreement with a group which, once signed, will lead to recruiting, training and testing the group's patients.
  • Interest, Needs Further Meetings. PHM has made contact with a cardiology group, has qualified it as a solid lead and is working through the sales process to present an agreement to be signed. 

             

November 2010        January 2011    
Clinic Location   Patients   Clinic Location   Patients
Awaiting patient file   1,800   Awaiting patient file   4,300
Finalizing implementation agreement   10,500   Finalizing implementation agreement   3,000
Qualified & interested,
Needs further meetings
  13,000   Qualified & interested,
Needs further meetings
  19,800
Total   25,300   Total   27,100

Investors can find the updated presentation on the PHM investor relations website at www.phmhometesting.com under the investor tab. 

For additional information please refer to the Company's website and complete filings 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 for 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.

SOURCE PHM Patient Home Monitoring

For further information:

Michael Dalsin
Chairman, Patient Home Monitoring
Managing Director, Stanmore Capital Partners, Inc.
(323) 253-3055
mpd@stanmorecap.com
    Michael Moore
Investor Relations
Equicom Group
619-467-7067
mmoore@equicomgroup.com

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PHM Patient Home Monitoring

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