{"id":491070,"date":"2021-05-11T08:03:22","date_gmt":"2021-05-11T12:03:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\/"},"modified":"2021-05-11T08:03:22","modified_gmt":"2021-05-11T12:03:22","slug":"protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\/","title":{"rendered":"Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing"},"content":{"rendered":"

\nProtech Home Medical to Change Name to Quipt Home Medical, a Burgeoning Leader in At Home Respiratory Care Expanding Rapidly Throughout the United States
\n<\/h2>\n
\n

CINCINNATI, May 11, 2021 (GLOBE NEWSWIRE) — Protech Home Medical Corp. (\u201cProtech<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that, subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange (the \u201cTSXV<\/strong>\u201d), it intends to change its name to\u00a0\u201cQuipt Home Medical Corp<\/strong>.\u201d (the \u201cName Change<\/strong>\u201d) and consolidate its common shares (each, a \u201cCommon Share<\/strong>\u201d) on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Shares (the \u201cShare Consolidation<\/strong>\u201d). The Name Change and Consolidation are anticipated to be completed on May 13, 2021 and it is expected that the Common Shares will commence trading on the TSXV on a post-Share Consolidation basis under the new name and new symbol \u201cQIPT\u201d on such date. The Name Change, symbol change and Share Consolidation are proposed to be completed in anticipation of the Company\u2019s application to list the Common Shares on the NASDAQ Capital Market (\u201cNASDAQ<\/strong>\u201d).<\/p>\n

The Company aims to set the standard of the home health industry and will be branded and utilized in local markets over time to meet the one-of-a-kind needs of every individual that puts their confidence in the name. Supported by the reach and the reputation of our current local brands, following the Name Change, the Company will continue to strive to enrich the lives of our patients by providing full-service technology-enabled home healthcare solutions to suit every kind of need, for every kind of patient.<\/p>\n

The Company expects that on the same date that the Common Shares begin to trade on a post-Share Consolidation basis under the new name, its 8.0% unsecured convertible debentures due on March 7, 2024 (the \u201cDebentures<\/strong>\u201d) will commence trading on the TSXV under the new symbol \u201cQIPT.DB.A\u201d. No action will be required by existing holders of the Debentures with respect to the Name Change or Share Consolidation.<\/p>\n

The CUSIP numbers assigned to the Common Shares and Debentures under its new name will be 74880P104 and 74880PAA2, respectively.<\/p>\n

It is anticipated that Computershare Trust Company of Canada (\u201cComputershare<\/strong>\u201d) will mail letters of transmittal to the shareholders providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. At that time, shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.<\/p>\n

The Company is currently targeting to complete the proposed listing on NASDAQ by the end of June 2021, or as soon as possible thereafter, subject to satisfaction of all necessary listing requirements and acceptance of the Company\u2019s Form 40-F Registration Statement by the United States Securities and Exchange Commission (the \u201cSEC<\/strong>\u201d). The Company will continue to trade under the symbol \u201cPTQQF\u201d on the OTCQX, following the Name Change and Share Consolidation and prior to completion of its proposed NASDAQ listing. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved.<\/p>\n

As previously disclosed in connection with the Company\u2019s application for listing on the NASDAQ Capital Market, the Company\u2019s auditor has concluded its review of the Q1, Q2 and Q3 of Fiscal 2020 financial statements for incorporation to the Form 40-F Registration Statement to be filed with the SEC. These restated and amended financial statements have been filed at www.sedar.com<\/a>. For additional clarification, please note there has been no changes to the audited Fiscal Year-End 2020 financials as previously filed by the Company.<\/p>\n

\n Management Commentary<\/strong>\n <\/p>\n

\u201cThis represents a major milestone in the history of our Company, as we transform into Quipt Home Medical, readying for national expansion across the United States as a leader in respiratory homecare. Driven by our technology focused, patient-centric model, organic growth initiatives such as elevating our brand, combined with our acquisition plans has significantly widened our aperture of opportunity for our business,\u201d said Greg Crawford, Chairman and CEO of Protech. \u201cWe feel timing our renaming process alongside our proposed NASDAQ listing will allow us to significantly garner awareness for our company in the United States. We expect to utilize Quipt as a brand over time in local markets, aiding in our robust organic growth strategy. Our interconnected healthcare platform is providing us much opportunity to gain market share and Quipt has all the resources needed to seize these opportunities. Additionally, I am pleased to report that our acquisition pipeline continues to be full, and we have a sustained focus on larger accretive transactions which further our goal of creating scale, and we look forward to keeping shareholders apprised as appropriate.\u201d<\/p>\n

\n ABOUT PROTECH HOME MEDICAL CORP.<\/strong>\n <\/p>\n

The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company\u2019s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient\u2019s services and making life easier for the patient.<\/p>\n

\n
\n Forward-Looking Statements<\/em>
\n <\/strong>\n <\/p>\n

\n Certain statements contained in this press release constitute “forward-looking information” as such term is \u200e\u200e\u200edefined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, \u200e\u200e\u200e\u200e”will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate \u200e\u200e\u200eto the Company, including: governmental and TSXV approval of the proposed Name Change and Share Consolidation; the timing and completion of the proposed Name Change and Share Consolidation; the timing and completion of the proposed listing on NASDAQ; the filing and acceptance of the Form 40-F filing with the SEC, the Company anticipating to add additional locations either through organic opportunities or through inorganic opportunities; the Company expecting to derive strong revenue synergies from new locations organically; the Company\u2019s plans to increase its footprint in current markets as well as adding new markets; the Company expecting to have further news on organic growth opportunities in the near future; and the Company expecting to be busy with new acquisitions in the near term; are intended to identify \u200eforward-looking information. All statements other than \u200estatements of \u200ehistorical fact may be forward-looking \u200einformation. Such statements reflect the Company’s current \u200eviews and \u200eintentions with respect to future events, and \u200ecurrent information available to the Company, and are \u200esubject to \u200ecertain risks, uncertainties and assumptions , including: the Company successfully identified, negotiating and completing additional acquisitions, including accretive acquisitions. Many factors \u200ecould \u200ecause the actual results, performance or achievements that may be expressed or \u200eimplied by such forward-\u200elooking \u200einformation to vary from those described herein should one or more of these risks \u200eor uncertainties \u200ematerialize. \u200eExamples of such risk factors include, without limitation: credit; market (including \u200eequity, commodity, \u200eforeign \u200eexchange and interest rate); liquidity; operational (including technology and \u200einfrastructure); \u200ereputational; \u200einsurance; strategic; regulatory; legal; environmental; capital adequacy; the \u200egeneral business and \u200eeconomic \u200econditions in the regions in which the Company operates; the ability of the \u200eCompany to execute on key \u200epriorities, \u200eincluding the successful completion of acquisitions, business retention, and \u200estrategic plans and to \u200eattract, develop \u200eand retain key executives; difficulty integrating newly acquired businesses; \u200ethe ability to \u200eimplement business \u200estrategies and pursue business opportunities; low profit market segments; \u200edisruptions in or \u200eattacks (including \u200ecyber-attacks) on the Company’s information technology, internet, network \u200eaccess or other \u200evoice or data \u200ecommunications systems or services; the evolution of various types of fraud or other \u200ecriminal \u200ebehavior to which \u200ethe Company is exposed; the failure of third parties to comply with their obligations to \u200ethe \u200eCompany or its \u200eaffiliates; the impact of new and changes to, or application of, current laws and regulations; \u200e\u200edecline of \u200ereimbursement rates; dependence on few payors; possible new drug discoveries; a novel business model; \u200e\u200e\u200edependence on key suppliers; granting of permits and licenses in a highly regulated business; the overall difficult \u200e\u200e\u200elitigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased \u200e\u200e\u200efunding costs and market volatility due to market illiquidity and competition for funding; the availability of funds \u200e\u200e\u200eand resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, \u200e\u200e\u200eand methods used by the Company; the occurrence of natural and unnatural catastrophic events \u200eand claims \u200e\u200e\u200eresulting from such events; and risks related to COVID-19 including various recommendations, orders \u200eand \u200e\u200emeasures of governmental \u200eauthorities \u200eto try to limit the pandemic, including travel restrictions, border closures, \u200e\u200e\u200enon-essential business \u200eclosures, \u200equarantines, self-isolations, shelters-in-place and social distancing, disruptions \u200e\u200eto \u200emarkets, economic \u200eactivity, \u200efinancing, supply chains and sales channels, and a deterioration of general \u200e\u200eeconomic \u200econditions \u200eincluding a \u200epossible national or global recession\u200e; as well as those risk factors discussed or \u200e\u200ereferred to in \u200ethe Company\u2019s disclosure \u200edocuments filed with the securities regulatory authorities in certain \u200e\u200eprovinces of Canada \u200eand available at \u200ewww.sedar.com. Should any factor affect the Company in an unexpected \u200e\u200emanner, or should \u200eassumptions \u200eunderlying the forward-looking information prove incorrect, the actual results or \u200e\u200eevents may differ \u200ematerially \u200efrom the results or events predicted. Any such forward-looking information is \u200e\u200eexpressly qualified in its \u200eentirety by \u200ethis cautionary statement. Moreover, the Company does not assume \u200e\u200eresponsibility for the accuracy or \u200e\u200ecompleteness of such forward-looking information. The forward-looking \u200e\u200einformation included in this press release \u200eis \u200emade as of the date of this press release and the Company undertakes \u200e\u200eno obligation to publicly update or revise \u200eany \u200eforward-looking information, other than as required by applicable \u200e\u200elaw.<\/em>\n <\/p>\n

\n Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of \u200ethe \u200eTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\u200e<\/em>\n <\/p>\n

For further information please visit our website at www.protechhomemedical.com<\/a>,<\/u> or contact:<\/p>\n

Cole Stevens
VP of Corporate Development
Protech Home Medical Corp.
859-300-6455
cole.stevens@myphm.com<\/p>\n

Gregory Crawford
Chief Executive Officer
Protech Home Medical Corp.
859-300-6455
investorinfo@myphm.com<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Protech Home Medical to Change Name to Quipt Home Medical, a Burgeoning Leader in At Home Respiratory Care Expanding Rapidly Throughout the United States CINCINNATI, May 11, 2021 (GLOBE NEWSWIRE) — Protech Home Medical Corp. (\u201cProtech\u201d or the \u201cCompany\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that, subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange (the \u201cTSXV\u201d), it intends to change its name to\u00a0\u201cQuipt Home Medical Corp.\u201d (the \u201cName Change\u201d) and consolidate its common shares (each, a \u201cCommon Share\u201d) on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Shares (the \u201cShare Consolidation\u201d). … <\/p>\n

Continue reading “Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing”<\/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-491070","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nProtech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing - 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\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Protech Home Medical to Change Name to Quipt Home Medical, a Burgeoning Leader in At Home Respiratory Care Expanding Rapidly Throughout the United States CINCINNATI, May 11, 2021 (GLOBE NEWSWIRE) — Protech Home Medical Corp. (\u201cProtech\u201d or the \u201cCompany\u201d) (TSXV:PTQ; OTCQX:PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that, subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange (the \u201cTSXV\u201d), it intends to change its name to\u00a0\u201cQuipt Home Medical Corp.\u201d (the \u201cName Change\u201d) and consolidate its common shares (each, a \u201cCommon Share\u201d) on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Shares (the \u201cShare Consolidation\u201d). … Continue reading "Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-11T12:03:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIzMzgwMCM0MTc2ODUwIzIwODgwMDI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing\",\"datePublished\":\"2021-05-11T12:03:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/\"},\"wordCount\":1725,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIzMzgwMCM0MTc2ODUwIzIwODgwMDI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/protech-home-medical-announces-intention-to-change-name-and-consolidate-stock-in-anticipation-of-proposed-nasdaq-listing\\\/\",\"name\":\"Protech Home Medical Announces Intention to Change Name and Consolidate Stock in Anticipation of Proposed NASDAQ Listing - 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