Patient Home Monitoring (PHM) Announces Second Quarter Results and Changes to Senior Officers

Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a company focused on in-home
cardiology healthcare services, today announced results for second fiscal
quarter ended March 31, 2011. In conjunction with the results, Ed Berenblum will
shift from the CEO position to an operational advisor, remaining to advise the
operational management team and PHM will appoint a prominent and highly
respected entrepreneur and cardiologist, Dr. Jaime Gerber, MD, FACC, as Interim
Chief Executive Officer (CEO) and Chief Strategic Officer (CSO).


PHM will conduct a conference call and webcast on Wednesday, May 25, 2011 at
9:00 am ET to review and discuss second quarter 2011 operating results and to
provide a corporate update.


To listen, please visit the investor website at:

www.myphm.com/investor/Q2_2011_Conferencecall 

Q2 2011 and Subsequent Highlights 



--  Increased quarterly INR tests recorded to 6,312 from 3,824, a 65%
    increase over the prior quarter(1). 
--  For the last month in the quarter, March 2011, PHM recorded 2,752 INR
    tests(1). 
--  Increased quarterly revenue to $250,901 from $134,155, an 87% increase
    over the prior quarter. 
--  Increased cardiology customer base to 14 groups from 7 groups the prior
    quarter(1). 
--  Achieved quarterly gross margin of 57.4%, up from 34.8%, a 66% increase
    over the prior quarter. 
--  Increased quarterly gross profit to $143,939, which exceeded total
    revenue from the prior quarter. 
--  Narrowed Adjusted EBITDA before patient acquisition costs (operating
    loss) to $165,101 from $218,055 the prior quarter(2). 
--  On pace to enroll enough patients to achieve a self-sustaining position
    within the next quarter using current cash on hand of over $1.7 million.
--  Redoubled a focus on revenue growth through recruitment of proven sales
    and marketing executives. 



Following the growth and operational successes in the last quarter, PHM has
refocused corporate leadership on sales, marketing and revenue growth.


"PHM has developed an efficient operation, with a very high gross margin," said
Michael Dalsin, Chairman of PHM. "However the company is not yet achieving
revenue growth reflective of the potential of the market. While the second
quarter operations had some significant positives, such as proving its model by
achieving very high gross margin and increased enrollment percentage across
existing customers, now the Company needs to realize the growth potential of the
market."


PHM has refocused its efforts by recruiting two proven executives who will be
responsible for increasing market penetration from different perspectives.
Leslie Becker will lead PHM's sales and marketing efforts as Executive Vice
President of Business Development and Jaime Gerber will lead to improve PHM's
strategic market position as Chief Strategic Officer. Dr. Gerber will also serve
as the Interim CEO.


Leslie Becker brings more than 25 years of experience leading and managing
successful marketing and sales efforts on behalf of major US healthcare services
companies, including Alliance Healthcare, Insight Health, Providence Health
Systems and Tenet Health Systems. "Ms. Becker has brought a fresh perspective on
analyzing and systematically attacking our many market opportunities, and brings
the energy and sense of urgency that we need to acquire our first mover share of
this emerging market," said Mr. Dalsin. "We believe that our sales model,
implemented properly, will make PHM's growth match or exceed the growth of the
market."


In his capacity as CSO, Dr. Gerber will focus primarily on plans to
differentiate PHM's service offering to increase PHM's patient enrollment in the
fast-growing patient self-testing (PST) market. "Jaime Gerber represents the
unusual combination of a successful cardiologist who also has marketing and
sales experience in the cardiology services industry and specifically Coumadin
testing. I would like to welcome him to the company as he works with the
management team to communicate as a peer to cardiologists across the nation,"
said Mr. Dalsin." Dr. Gerber, a board certified cardiologist, assisted with the
establishment of mdINR, LLC, a business focused on the Coumadin market, which
was recently acquired by Lincare (Nasdaq:LNCR). He has a deep understanding of
sales and marketing in the cardiology sector from his experience with one of the
most successful cardiology service companies in the Northeast United States. As
a respected cardiologist, he understands how to market on a peer-to-peer basis
and increase market access for PHM.


"Ed Berenblum was recruited as a CEO with specific knowledge on building an
efficient and highly profitable call center operation," concluded Mr. Dalsin. "I
believe he succeeded in that goal. He recruited and trained a COO who
effectively continues to improve margins and efficiencies. I want to express my
deepest appreciation to Ed and congratulate him on a job well done, showing that
PHM can succeed operationally." Dr. Gerber will serve as Interim CEO until a
full time successor is found. Mr. Berenblum will continue to consult with the
operational team.


For complete financial results, please see our filings at www.sedar.com.

(1) International normalized ratio ("INR") tests and number of cardiology groups
with patients testing are used as measures of current and future sales
performance. Please refer to the "Non-GAAP Measures" section of our MD&A for
further discussion on these operational measures.


(2) In calculating Adjusted EBITDA before patient acquisition costs certain
items are excluded from net loss including interest, taxes, amortization and
non-cash stock-based compensation and patient acquisition costs. Please refer to
the "Non-GAAP Measures" section of our MD&A for further discussion on these
operational measures.


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.
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