{"id":441861,"date":"2021-02-23T08:33:17","date_gmt":"2021-02-23T13:33:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=441861"},"modified":"2021-02-23T08:33:17","modified_gmt":"2021-02-23T13:33:17","slug":"premier-health-reports-a-297-revenue-increase-for-its-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/premier-health-reports-a-297-revenue-increase-for-its-first-quarter-of-2021\/","title":{"rendered":"Premier Health Reports a 297% Revenue Increase for Its First Quarter of 2021"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">MONTR\u00c9AL, Feb.  23, 2021  (GLOBE NEWSWIRE) &#8212; Premier Health of America Inc. (TSXV: <strong>PHA<\/strong>) (the \u201c<strong>Corporation<\/strong>\u201d), a leading Canadian Healthtech company, announces it has filed its Condensed Interim Consolidated Financial Statements and MD&amp;A for its first quarter ended December 31, 2020.<\/p>\n<p align=\"justify\">\n        <strong>Summary<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">The Corporation had revenues of $13.4M for the 3 months period (297% increase from $3.4M for Q1-2020) attributable to the consolidation of the Code Bleu acquisition, and organic growth from all business units.<\/li>\n<li style=\"text-align:justify\">The increase in the average gross margin to 28.5% (26.2% for Q1-2020) resulted from a more efficient geographical distribution of services rendered.<\/li>\n<li style=\"text-align:justify\">The EBITDA<sup>(<\/sup><sup>1)<\/sup> increased to $1.3M (512% increase from $215,545 for Q1-2020).<\/li>\n<li style=\"text-align:justify\">Net income was $715,645 compared to $136,493 for the same period in 2020.<\/li>\n<li style=\"text-align:justify\">The Corporation completed a $7,486,500 bought deal offering subsequently to December 31, 2020.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <em>\u201cThe first quarter of 2021 has set the pace for the reminder of FY2021.\u201d<\/em> Said Martin Legault, CEO of Premier Health. <em>\u201cPremier Health\u2019s results for this quarter are above our budget and <\/em><em>we are continuing on our growth path<\/em><em>.\u201d<\/em><\/p>\n<p align=\"center\">\n        <strong>First Quarter 2021 Results Highlights<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>December 31, 2020<\/strong><br \/>\n            <br \/>\n            <strong>(3 months)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>December 31, 2019<\/strong><br \/>\n            <br \/>\n            <strong>(3 months)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:50%;width:50%;min-width:50%;vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Revenues<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:24%;width:24%;min-width:24%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>13,360,309<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:24%;width:24%;min-width:24%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>3,364,158<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>From last period<\/em>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <em>+297<\/em>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Gross margin<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>3,803,468<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>884,605<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>From last period<\/em>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <em>+330<\/em>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>EBITDA <\/strong><br \/>\n            <sup><br \/>\n              <strong>(1)<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>1,318,718<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>215,545<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <em>From last period<\/em>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <em>+<\/em>512<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Net Income<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>715,645<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>136,493<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt\">\n            <em>From last period<\/em>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <em>+424<\/em>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\n            <em>%<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"left\">\n        <sup>(1)\u00a0<\/sup>Adjusted EBITDA before non-recurring items<\/p>\n<p align=\"justify\">\n        <strong>Business Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">The integration of the Code Bleu acquisition is proceeding as planned.<\/li>\n<li style=\"text-align:justify\">The Corporation provided over 200,000 hours of services during the quarter.<\/li>\n<li style=\"text-align:justify\">The Nordik business unit represented 24% of Premier Health\u2019s revenues and had an increasingly positive impact on the Corporation\u2019s average gross margin.<\/li>\n<li style=\"text-align:justify\">Work protocols are adapting to COVID-19 and management at healthcare networks are gradually realizing that a better integration of public infrastructure and private solutions enables a better continuity of service to the population.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Financing Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">The Corporation issued an aggregate of 7,130,000 common shares at a price of\u00a0$1.05\u00a0per share for aggregate gross proceeds of $7,486,500 on a bought deal basis on February 22, 2021.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Completion of Code Bleu Acquisition<\/strong>\n      <\/p>\n<p align=\"justify\">Premier Health completed the previously announced Code Bleu acquisition on November 6 for a total consideration of C$17 million. The acquisition was financed by a $10M term loan, the issuance of 6,521,740 common shares of the Corporation at $0.69 per share and a $2.5M balance of sale subject to performance objectives. Code Bleu\u2019s Q1-2021 partial consolidation (55 days over a 92 day quarter) added over 87,000 billed hours and revenues of $5.3M to Premier Health\u2019s results.<\/p>\n<p align=\"justify\">\n        <strong>About Premier Health<\/strong>\n      <\/p>\n<p align=\"justify\">Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of staffing and outsourced services solutions for healthcare needs to governments, corporations, and individuals. Premier Health uses its proprietary PSweb platform to lead the healthcare services sector digital transformation to provide patients with faster, cheaper and more accessible care services.<\/p>\n<p align=\"justify\">\n        <strong>Non-GAAP Measures<\/strong>\n      <\/p>\n<p align=\"justify\">Earnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d), is calculated as the net profit (loss), before non-recurring items such as acquisition and transaction costs, non-cash expenses (including loss from disposal of assets, impairments, amortization and depreciation), interest expense, net of interest income and income tax expense.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>For Further Information Please Contact:<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Mr. Jean-Robert Pronovost<br \/>Vice-President, Corporate Development<br \/><strong>Premier Health of America Inc.<br \/><\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=W9PSrq_icTgXhsG_np7Fp5R5Bj-Jd55Rui5o6ifq-MmKhASyZo8o3UShXBzLcna1huzd4USTghrm63OMuz2gK94qh8IwqhtRRH8VEnQfus7aM-DP_lMRrvchejxpyNNv\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">jrpronovost@premierhealth.ca<\/a> \/ 1 800 231 9916<\/p>\n<p align=\"justify\">\n        <em>Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <strong>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation\u2019s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.<\/em>\n      <\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE1NzU4OSMzOTg5NTMxIzIxODkxMjQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/af5ddce2-1f53-4c77-bbb6-a7ae6c9d2052\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MONTR\u00c9AL, Feb. 23, 2021 (GLOBE NEWSWIRE) &#8212; Premier Health of America Inc. (TSXV: PHA) (the \u201cCorporation\u201d), a leading Canadian Healthtech company, announces it has filed its Condensed Interim Consolidated Financial Statements and MD&amp;A for its first quarter ended December 31, 2020. Summary The Corporation had revenues of $13.4M for the 3 months period (297% increase from $3.4M for Q1-2020) attributable to the consolidation of the Code Bleu acquisition, and organic growth from all business units. The increase in the average gross margin to 28.5% (26.2% for Q1-2020) resulted from a more efficient geographical distribution of services rendered. The EBITDA(1) increased to $1.3M (512% increase from $215,545 for Q1-2020). Net income was $715,645 compared to $136,493 for the same period in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/premier-health-reports-a-297-revenue-increase-for-its-first-quarter-of-2021\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Premier Health Reports a 297% Revenue Increase for Its First Quarter of 2021&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441861","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Premier Health Reports a 297% Revenue Increase for Its First Quarter of 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/premier-health-reports-a-297-revenue-increase-for-its-first-quarter-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Premier Health Reports a 297% Revenue Increase for Its First Quarter of 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MONTR\u00c9AL, Feb. 23, 2021 (GLOBE NEWSWIRE) &#8212; Premier Health of America Inc. (TSXV: PHA) (the \u201cCorporation\u201d), a leading Canadian Healthtech company, announces it has filed its Condensed Interim Consolidated Financial Statements and MD&amp;A for its first quarter ended December 31, 2020. Summary The Corporation had revenues of $13.4M for the 3 months period (297% increase from $3.4M for Q1-2020) attributable to the consolidation of the Code Bleu acquisition, and organic growth from all business units. The increase in the average gross margin to 28.5% (26.2% for Q1-2020) resulted from a more efficient geographical distribution of services rendered. The EBITDA(1) increased to $1.3M (512% increase from $215,545 for Q1-2020). 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(TSXV: PHA) (the \u201cCorporation\u201d), a leading Canadian Healthtech company, announces it has filed its Condensed Interim Consolidated Financial Statements and MD&amp;A for its first quarter ended December 31, 2020. Summary The Corporation had revenues of $13.4M for the 3 months period (297% increase from $3.4M for Q1-2020) attributable to the consolidation of the Code Bleu acquisition, and organic growth from all business units. The increase in the average gross margin to 28.5% (26.2% for Q1-2020) resulted from a more efficient geographical distribution of services rendered. The EBITDA(1) increased to $1.3M (512% increase from $215,545 for Q1-2020). 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