From GlobeNewswire: 2025-02-28 17:01:00

Premier Health of America Inc. (TSXV: PHA) filed its unaudited Quarterly Consolidated Financial Statements for Q1 2024, reporting revenues of $32.1M (down from $37M in Q1 2023). Adjusted EBITDA was $0.7M (compared to $2.6M in Q1 2023) and a net loss of $2.3M (compared to a loss of $0.2M in Q1 2023).

The impact of Quebec’s Bill 10 continued to affect the Per Diem segment, with capped rates and restrictions on independent labor. Despite lower volume in BC, services in Travel Nurse and northern communities remain stable. Per Diem now represents around 5% of revenues and gross margins.

Premier Health is reorganizing its Quebec operations, reducing the workforce in the Per Diem businesses. Negotiations for office lease terminations and securing new spaces have progressed positively. Cost savings are on track, with plans to accelerate in the coming quarters for improved operational efficiency.

CEO Martin Legault expressed confidence in the company’s cost reduction efforts, focusing on debt management, operational efficiency, and organic growth. Despite a slowdown at SSI, bookings remain strong, and operational issues affecting margins are being addressed. The company remains dedicated to improving financial performance and pursuing growth opportunities.

Premier Health is a leading Canadian Healthtech company offering outsourced healthcare services using its LiPHe® platform. EBITDA and Gross Margin are key financial measures, with more details available in the MD&A. The company’s growth strategy execution is a focus, with forward-looking information provided in the press release for investor understanding.



Read more at GlobeNewswire:: Premier Health Reports 2025 First Quarter Results