Patient Home Monitoring Corp. (TSXV:PHM) agreed to acquire HeartHealth4Me.com for CAD 0.2 million in stock on January 8, 2014. Patient Home Monitoring Corp. (TSXV:PHM) entered into a definitive agreement to acquire HeartHealth4Me.com for CAD 0.2 million in stock on April 30, 2014. As per the terms of the definitive agreement, HeartHealth4Me will be acquired 0.75 million shares in an all stock transaction with additional shares issued based upon future profits. In the related transactions Patient Home also entered into definitive agreements to acquire Resource Medical Group, Palmetto Medical Holdings, LLC, RMGC, LLC. Acquired companies together have trailing 12-month revenues of CAD 5.7 million and trailing 12-month EBITDA of approximately CAD 1.35 million.

The transactions have been approved by the Board of Directors of Patient Home Monitoring. The closing of the transactions is subject to TSX approval and approval of shareholders of Patient Home Monitoring. The acquisitions are expected to significantly increase revenues and cash flow of Patient Home upon closing. The acquired companies are expected to immediately increase Patient Home annual EBITDA run rate to over CAD 3 million, and increase organic growth potential by offering additional services to existing patients, as well as offering current services to newly acquired patients. As on April 11, 2014, the transaction was approved by the shareholders of Patient Home Monitoring.