Patient Home Monitoring Corp. (TSXV:PHM) entered into a definitive agreement to acquire Resource Medical Group for CAD 2.1 million in stock on January 8, 2014. Patient Home will issue 7.62 million shares as consideration to the shareholders of Resource Medical.

In the related transactions Patient Home also entered into definitive agreements to acquire Palmetto Medical Holdings, LLC, HeartHealth4Me.com, RMGC, LLC. 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 transactions have been approved by the Board of Directors of Patient Home Monitoring.

The closing of the transactions is subject to TSX approval. 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 and increase organic growth potential by offering additional services to existing patients, as well as offering current services to newly acquired patients.

On June 13, 2014, TSX Venture Exchange accepted for filing documentation relating to a contribution agreement dated January 14, 2014.