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Patient Home Monitoring Appointment of New Chief Executive Officer and Executive Director

^{Published on 2010-06-16 04:05:42 - Market Wire}
 

SAN FRANCISCO, CA, June 16 /CNW/ - Patient Home Monitoring (PHM) (TSXV:PHM), a company focused on in-home healthcare services, today announced that Ed Berenblum has accepted the appointment to be the Company's President & CEO and will begin early July. Mr. Berenblum will also serve as Executive Director on the Board of Directors.

Mr. Berenblum has over 20 years of experience in the healthcare services industry, most recently as Vice President and Global Healthcare Revenue Cycle Leader at Genpact (NYSE:G), a multi-billion dollar company that is a spin-off of General Electric.

"As a start-up, PHM is very fortunate to have attracted a senior manager with these qualifications and extensive experience," said Michael Dalsin, Chairman of Patient Home Monitoring. "One of PHM's key competitive advantages is the Patient Support Center in San Francisco. This call centre is the foundation for servicing patients and physician groups. Ed's global experience managing call centers in the US, and around the world for Genpact, a company known for its operating rigor and world-class call centers, will be crucial to PHM's success. Ed will initially be focused on building the operations and running them efficiently to ensure PHM maximizes its cash flow from servicing patients in their home. Ed's start-up and process improvement experience will help PHM quickly transition from its current start-up phase to the next phase, establishing a profitable operation."

"I was first attracted to PHM because of its focus on an excellent opportunity in the US healthcare market," said Mr. Berenblum. "PHM will service a new market that has strong growth potential. Its unique marketing focus, physician and patient centered service approach, and first mover position enhances its prospects. In the coming years, the US healthcare market will increasingly focus on in-home services and preventative treatment and diagnostics. PHM is at the cutting edge of this trend, and I look forward to using my management expertise and experience to help us penetrate this market."

To save costs, Mr. Berenblum has agreed to serve as PHM's interim CFO until that position is permanently filled.

Prior to Genpact, Mr. Berenblum was Executive Vice President and General Manager with Creditek, a New Jersey based business process outsourcing provider of healthcare revenue cycle services, acquired by Genpact in 2005. Mr. Berenblum was previously a Director with Deloitte Consulting's healthcare practice, where he focused on operations improvements and led the laboratory and homecare practices. Prior to Deloitte, he was the Executive Director for RegionCare, a start-up in the laboratory and homecare space.

Ed Berenblum has been published in the Medical Laboratory Observer and presented numerous times on healthcare services and various Six Sigma processes. Mr. Berenblum received his MBA in Finance and Management from The Wharton School of Business at The University of Pennsylvania, where he graduated with honors in 1984.

Mr. Berenblum is also an investor in PHM, participating in the latest placement announced in early June, 2010.

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 physician groups who manage patients on blood thinners. PHM's systemized approach results in both revenue generation and cost savings for the physicians, as well as a higher standard of care and convenience for the 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.

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