- Health technology company, Premier Health of America (TSXV:PHA) reported a 55 per cent increase in revenue in its first quarterly report of 2020
- Revenue in the first quarter was just under C$5 million, up from roughly $3 million in 2019’s same quarter
- Furthermore, first quarter EBITDA went up 176 per cent to $423,585
- The company attributed the boost to a large contract renewal, changes to Quebec legislation and an uptick in hours billed, due to the coronavirus crisis
- Premier Health (PHA) is up 2 per cent and is trading at $0.36 per share
Premier Health of America (TSXV:PHA) has reported a 55 per cent increase in revenue in its first quarterly report of 2020.
Revenue in the first quarter was just under $5 million, up from roughly $3 million in 2019’s same quarter
Premier Health is a health technology company and has subsidiary businesses that provide more general health services to provincial governments.
The company put the boost down to a large contract renewal, changes to Quebec legislation and an uptick in hours billed due to the coronavirus crisis.
A permanent pay rise from Quebec legislators to Healthcare workers also net the company’s subsidiary a revenue boost.
Premier Health boosted its gross profit margins by 24.7 per cent, putting this rise down to more efficient geographical allocation of resources.
Furthermore, Premier Health’s subsidiary Excel Sante was successful in its bid to provide temporary nursing services to the Quebec Cote Nord population during the coronavirus pandemic.
Revenue in the first quarter was just under C$5 million, up from roughly $3 million in 2019’s same quarter
The company’s EBITDA was also substantially up, going from $153,204 in 2019 first quarter to $423,585 this year.
CEO of Premier Health, Martin Legault said the COVID-19 pandemic has had a positive impact on the company’s operations and results.
“We worked together with various institutional stakeholders to maximise the resource provided to the health care system.
“It is natural to feel concerned about a return to normalcy, but our company is in an exceptional position to execute its growth objectives,” he said.
Premier Health of America (PHA) is trading up 2 per cent to $0.36 per share at 3:35 pm EDT.