West Palm Beach, Florida - 
(NewMediaWire) - May 16, 2022 - Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”), filed today, the first quarter 2022 10-Q. The Company’s ARIA subsidiary had an increase of 23.4% in total billed claims for the first quarter of 2022 over the total billed claims for fourth quarter 2021 resulting in positive EBITDA for the ARIA subsidiary of $186,640.00 for the quarter. The overall Company loss was due primarily to interest and other debt related expenses.
Mr. Shawn Leon, Company CEO, reported, “While quarter one revenues were up substantially, the collection percentage rates were weaker due to the resetting of client insurance policy deductibles and copays that take place on January 1 each year. We are looking forward to seeing continued positive progress in quarter two with the implementation of the increased billing rates in April and the addition of fourteen new beds at the end of May. We need to continue our focus on eliminating expensive debt with less expensive debt or equity. This is achievable and will improve the overall Company performance.”
The Company also created a new wholly owned subsidiary named PB Billing LLC which will look after the billing for the ARIA subsidiary in May 2022 and for other non-Company owned treatment facilities in the future.
About Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last decade and has had much success with in-patient treatment for adults. Ethema will continue to develop world class programs and techniques for North America. For more information you can visit our website at www.ethemahealth.com .
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For information please contact:
Ethema Health Corporation
shawn@ethemahealth.com
Text to 416-500-0020
Twitter @healthethema
