Navigation Links
AIM Health Group Inc. reports largest quarterly profit since going public and announces filing of financial results for the three months ended March 31, 2009 on SEDAR

TORONTO, May 22 /PRNewswire-FirstCall/ - AIM Health Group Inc. ("AIM" or the "Company") (TSXV - AHG), a fully integrated health care company, announced today that its income for the three months ended March 31, 2009 (the "Quarter") increased to $271,835 from a loss of $32,194 in the same period in 2008. At the same time EBITDA(1) increased 170% to $672,303 from $248,810, on a quarter-over-quarter basis. This is the first reporting period since AIM acquired Med-Emerg International ("MedEmerg"), on January 20, 2009. The Company also announced that revenues increased 66% to $13.1 million in the Quarter from $7.9 million for the same period in 2008. Revenue and earnings include MedEmerg results from the date of the acquisition.

Lu Barbuto, President and Chief Executive Officer of AIM commented, "The results for the Quarter are encouraging. As expected, the transaction with MedEmerg is showing a positive impact. I expect to see more benefits as the integration process continues. We continue to see 2009 as a growth year for our Company and where our focus will be on the continued development of our Health and Wellness Centres and our service lines, including those acquired from MedEmerg."

The Company's financial results are summarized below:

    ($000's except share information)        Three Months Ended
                                                   March 31
                                                2009      2008

    Revenue                                   13,092     7,933
    EBITDA(1)                                    672       249
    Net income (loss) for the period             272       (32)

    (1) EBITDA is defined as earnings before interest, taxes and non-cash
        items including stock compensation and accretion expenses.

The Company went on to advise that the integration of the MedEmerg service lines continues. Two of MedEmerg's chronic pain management sites have been relocated into AIM's Health and Wellness Centres in London and Hamilton, Ontario. Two more sites will be relocated in the next few weeks in Ottawa and Mississauga. The Company continues to indentify synergies of integration and growth related opportunities from the acquisition.

The Company also announced today that it has filed its March 31, 2009 financial results with the securities regulatory authorities. Such financial results may be found on SEDAR at

About AIM Health Group Inc.

AIM is a Canadian healthcare company, providing patient care and health related consulting services for Employers, Unions, Hospitals, Pharmaceutical Companies, Insurers and the General Public. Our focus is to increase shareholder value through the leveraging of our healthcare infrastructure in more than 70 community-based sites, most of which are in Ontario.

AIM's healthcare services are comprised of (i) our network of Health and Wellness Centres where we provide medical and complementary alternative medical care, (ii) Infusion Services where we provide intravenous infusions and subcutaneous injections to patients suffering from rheumatoid arthritis, Crohn's disease, ITP and other inflammatory diseases, (iii) Pharmaceutical Research services where we provide clinical research services in community and hospital based sites (iv) Chronic pain management services where we provide medically-based care for more than 60,000 treatments annually, (v) Hospital and Institutional healthcare staffing, where we provide physician staffing to Canadian hospitals, prisons and other institutions, and (vi) Workplace Health Solutions where we are a one-stop solution for more than 80 employers in Canada addressing various occupational health issues.

Caution Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking statements. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including AIM's experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of AIM for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusion will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of material factors, many of which are beyond AIM's control, affect operations, performance, achievements and results of AIM that may be expressed or implied by such forward-looking statements and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: general economic, industry and market segment conditions; equipment and labour shortages and inflationary costs; changes in applicable environmental, taxation and other laws and regulations, as well as how such laws and regulations are interpreted and enforced; changes in technology; operating risks, including risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; ability to maintain current and obtain additional financing; and management's success in anticipating and managing the foregoing factors.

The reader is cautioned that the foregoing list of factors is not exhaustive of the factors that may affect AIM's forward-looking statements. The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management of AIM currently believes to be reasonable assumptions, actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits will be derived therefrom. These forward-looking statements are made as of the date of this release and, other than as specifically required by law, AIM does not assume any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.


SOURCE AIM Health Group Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. IBM Helps Ling Tung University Build System to Monitor and Analyze Patients Health at Home
2. Two Executives Join Jackson Healthcare Advisory Board
3. AMD Global Telemedicine Inc., Proud to Announce Diane Castelli, Chair of the American Telemedicine Association's (ATA) Telehealth Nursing Special Interest Group (SIG)
4. An International Design Team has Been Selected for an Iraqi Hospital to Transform Healthcare in the Middle East
5. Security Officers Who Protect Kaiser Hospitals Rally With Community Supporters for Access to Affordable Healthcare
6. Court Rules in Favor of HealthSouth in Litigation Involving General Medicine, P.C.
7. Hard Times for Nursing Hires Doesnt Signal End to Shortage According to California Institute for Nursing & Health Care
8. St. Davids HealthCare Named #1 Best Place to Work Among Large Central Texas Employers for Third Consecutive Year
9. HCAs Perlin Named Chair of HHS Health IT Standards Committee
10. Poll Finds Americans See Long-term Services and Supports as a Priority, Not an Option, for Health Care Reform
11. Coalition Calls on Secretary of Health to Make Hospital Emergency Preparedness a Priority
Post Your Comments:
(Date:11/29/2015)... ... , ... Khanna Vision Institute based in Los Angeles, announced that Dr. Khanna ... Peer Certification by the Board is done so the public knows that the Doctor ... after the completion of three years of training or Residency in Ophthalmology. This is ...
(Date:11/29/2015)... ... , ... Key Housing, a top-rated corporate housing service for the San Jose ... Epic. In showcasing this featured apartment community in San Jose, Key Housing is helping ... efficiently find housing suitable to their needs by showcasing quality housing. , “San Jose ...
(Date:11/28/2015)... ... 2015 , ... Pixel Film Studios is back again with ProPanel: Pulse ... are endless. Users have full control over angle of view, speed method, start point, ... sure to get heads to turn. , ProPanel: Pulse offers fully customizable pulsating shape ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... affecting the health care in America. As people age, more care is needed, ... costs are rising, and medical professionals are being overworked. The forgotten part of ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... 27th edition of USA Today in Atlanta, Dallas, New York, Minneapolis, South Florida, ... The digital component is distributed nationally, through a vast social media strategy and ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , November 26, 2015 ... --> adds "Global Repaglinide ... "Investigation Report on China Repaglinide Market, ... forecasts data and information to its ... . --> ...
(Date:11/26/2015)... , Nov. 26, 2015 Research and ... of the "2016 Future Horizons and Growth ... Market: Supplier Shares, Country Segment Forecasts, Competitive Intelligence, ... --> --> ... of the Italian therapeutic drug monitoring market, including ...
(Date:11/26/2015)... DUBLIN , November 26, 2015 ... has announced the addition of the  ... in the European Cell Surface Marker ... Emerging Opportunities"  report to their offering.  ... announced the addition of the  "2016 ...
Breaking Medicine Technology: