Patient Home Monitoring Corp. (TSXV:PHM) entered into a definitive agreement to acquire RMGC, LLC for CAD 2 million on January 8, 2014. Patient Home will issue 5.154862 million shares and cash of CAD 0.653275 million as consideration to the shareholders of RMGC. In the related transactions, Patient Home also entered into definitive agreements to acquire Palmetto Medical Holdings, LLC, HeartHealth4Me.com, Resource Medical Group. The combined companies have trailing 12-month revenues of CAD 5.7 million and trailing 12-month EBITDA of approximately CAD 1.35 million. The closing of the transactions is subject to TSX approval. The transactions have been approved by the Board of Directors of Patient Home Monitoring. The acquisitions are expected to significantly increase revenues and cash flow of Patient Home upon closing. The combined companies are expected to immediately increase Patient Home annual EBITDA run rate to over CAD 3 million.

Patient Home Monitoring Corp. (TSXV:PHM) completed acquisition of RMGC, LLC on January 18, 2014.