Patient Home Monitoring to acquire company in Virginia
LOS ANGELES – Patient Home Monitoring has executed a letter of intent to acquire a $5 million healthcare company in Virginia that offers home accessibility products like patient lifts. PHM is a $50 million company focused on rolling up annuity-based healthcare service companies in the U.S. “We now have four LOIs that are awaiting closing with total revenue in excess of $15 million,” stated Michael Dalsin, chairman of the board of PHM, in a press release. “Assuming we close all four deals, PHM’s annual revenue run-rate will exceed $65 million.” PHM plans to close the deal with a mix of cash and stock, issuing less than 1% of its outstanding common shares. Upon closing, the owners of the unnamed company, who will stay on board, plan to begin cross selling their products and services across Georgia, Maine and South Carolina.