West Palm Beach, Fla., November 22, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Ethema Health Corporation (OTCPINK: GRST) (“Ethema†“GRST†or a “Companyâ€), today filed third quarter financial results, including results belonging to operations out of certain ARIA treatment facility whichever was acquired on July 1, 2021. Certain results reported for any period July 1 toward September 30, 2021 corresponded in order to the ninth toward eleventh month from operation from the new facility. Each facility became profitable within each seventh month of operation also possesses stood profitable every month since. Segmented information for certain ARIA fulfillment center was EBITDA of $ 47,359 for a quarter. Revenue is recorded on the basis made from each adjusted gross billing for the period. Each facility recorded on average a net inflow out of gross billings next to per rate out of approximately 13%. Any net amount collected has increased slightly each month due up to improvements among a billing as well as collection process. Blue Cross was billed for approximately 96% out of total revenue for each quarter. The fourth quarter up to date owns occurred very good with higher occupancy and increased revenue compared in order to each consistent period within each third quarter. Profitability increases due to lower marketing expenses what desire continue into a quarter. Certain previous half from December possesses traditionally existed slow in the industry as well as current be able to impact overall fourth quarter results. Construction from any primary floor is thoroughly advanced also shall be completed within December, allowing each facility toward increase a amount belonging to beds near to 10. The facility was able toward sum 2 beds in order to certain existing amount belonging to 42 in November. Any total amount belonging to beds testament seem 54 when certain first floor is completed. Whole beds are licensed at a lower level certain existing license.
Certain Company continued up to eliminate debt, primarily throughout conversion toward equity, during certain quarter along with post- quarter conclude. The ones mentioned conversions are beneficial in order to a Company since a elimination made from debt testament ultimately consolidate the Company’s balance sheet.
Certain Company as well constructed any decision for leave ahead with a purchase made from the property by 950 Evernia Street, West Palm Beach, Florida. The Purchase will remain a off-balance sheet structure inside which the Partnership testament exist any general partner belonging to some limited partnership whichever testament utilize a debt as well as equity made from a limited partners like the structure in order to own up to certain property. Aforementioned shall eliminate a necessitate to directly increase Ethema’s equity along with while a general partner, Ethema intend as yet benefit since any ownership belonging to each property. Ethema too plans to implement each identical structure for its Canadian property, which one desire besides improve the balance sheet. A Our group limited partnership intend raise $ 1,500,000 inside equity also each Canadian limited partnership desire raise Cdn $ 1,500,000 among equity. Investors interested amid participating amid certain offering be able to contact any CEO out of any company for investment information materials. The Company will additionally publish said information on of it website.
Mr. Shawn Leon, CEO belonging to each Company, replied: “Us have just celebrated each earliest anniversary of the opening out of certain ARIA Treatment Center as well as us are extremely pleased with any progress made toward date. We often run into capacity limits and can’t wait for fetch additional beds. Ourselves hope to complete any purchase of certain property via a terminate belonging to any twelve months plus labor on further expansion once said is done. I wish in order to offer belonging to me best wishes as well as happy holidays in order to each made from for us shareholders aforementioned holiday weekend. Our group are truly blessed and grateful for entire such we contain.
Around Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates within any field belonging to behavioral health, specifically in each treatment out of substance utilize disorders. Ethema contains developed a unique style of treatment across certain past decade also owns had excellent success with inpatient treatment for adults. Ethema intend continue up to develop world class programs and techniques for North America. For further information, you able visit our website next to www.ethemahealth.com.
Notice Regarding Forward-Looking Statements
The information contained in said document includes forward-looking statements. Aforementioned statements relate to future events either of us future financial performance, plus involve known as well as unknown risks, uncertainties plus another factors that perhaps cause ours actual results, levels from activity, performance alternatively achievements toward remain materially. various since each results, levels belonging to activity, performance or achievements expressed nor implied by aforementioned forward-looking statements. Guys ought to not spot undue reliance on forward-looking statements, since they involve known also unknown risks, uncertainties as well as different factors which are, amid some cases, beyond belonging to us control plus which might, and probably shall, materially affect results. actual activity, performance either achievement levels. Whichever forward-looking statement reflects of us current views regarding future events plus is subject up to the ones mentioned also different risks, uncertainties along with assumptions regarding ours operations, results made from operations, growth strategy also liquidity. Ourselves assume nay obligation toward publicly update nor revise these forward-looking statements for some motive, nor to update certain reasons what for actual results was capable of differ materially since aforementioned anticipated among such forward-looking statements, truly when from brand-new information becomes available within any future.
For more information please contact:
Ethema Health Society
Text up to 416-500-0020
Twitter @healthethema
