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Ethema Health Corporation (GRST) provides specialized behavioral healthcare services focused on substance use disorder treatment through inpatient programs and strategic facility management. This news hub offers investors and healthcare professionals timely updates on GRST's clinical advancements, operational strategies, and regulatory milestones.
Access comprehensive coverage of GRST's business developments including acquisition announcements, earnings reports, and treatment program innovations. The company's unique approach combines clinical excellence in detoxification services with astute healthcare real estate management, particularly serving Medicaid-insured populations in key markets like Florida and Kentucky.
Key updates include progress on facility expansions, partnership agreements, compliance achievements, and financial performance metrics. This resource centralizes critical information for evaluating GRST's position in the behavioral healthcare sector and its dual focus on patient outcomes and asset optimization.
Bookmark this page for verified updates directly from corporate communications and trusted industry sources. Monitor GRST's execution of its growth strategy through clinical program enhancements and disciplined capital allocation in the evolving healthcare landscape.
Ethema Health (OTCPINK:GRST) has announced its participation in The Microcap Conference 2025, scheduled for January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, NJ. This premier event brings together growth-focused companies and investors.
The company's management team will deliver a corporate presentation and conduct one-on-one meetings with institutional and individual investors. During these sessions, they will discuss recent developments, growth strategy, and investment opportunities.
Notably, Ethema has exceeded all projections made at the 2024 Microcap conference. Mr. Leon will present details about the significant impact of the company's recently acquired Kentucky business and outline the outlook for 2025 and beyond.
Ethema Health 's subsidiary ARIA received a full license for inpatient detoxification and Residential Level 1 facility in Boca Raton on October 21, 2024. The ARIA Boca facility features 11 detox beds and 12 residential beds, increasing total Florida bed count to 85. While Q3 revenue from ARIA Boca was delayed pending insurer contract updates, ARIA's Q3 2024 revenues grew 18% from Q2 2024 and 30% from Q3 2023. The company expects ARIA Boca revenue generation in Q4 2024 and plans to complete the Edgewater Recovery center acquisition in Kentucky during the same quarter. Management aims for an uplisting in H1 2025.
Ethema Health (OTCPINK: GRST) has signed a binding Asset Purchase Agreement to acquire the business operations and operational assets of Edgewater Recovery Center, (ERC) in Kentucky. The transaction excludes real property and requires various consents. ERC has been managed by Ethema since July 15, 2024, and will continue operations until ARIA Kentucky, a new subsidiary, is fully licensed and accredited.
The current ERC patient census is approximately 195 patients, with expectations of significant growth. Ethema plans to add 16 beds in October at the Paducah location. ARIA Kentucky will primarily serve Medicaid-insured clients, with potential for expansion due to ongoing investigations into other Medicaid providers in the state.
The real property associated with ERC operations will be acquired separately by a fund controlled by Ethema's CEO, Shawn Leon, and leased to ARIA Kentucky at market rates.
Ethema Health (OTCPINK: GRST) has received a license for its new 16-bed inpatient detoxification and 16-bed residential level 1 facility in Boca Raton, Florida. This increases the company's total bed count in Florida to 94. Ethema is also negotiating to purchase facilities in Kentucky, potentially adding 60 more beds.
The company is considering setting up a separate Real Estate Fund and plans to announce a new Preferred Stock offering. CEO Shawn Leon will present at the 1640 Society gathering in Southampton, New York. Ethema has reset its growth target to 3,000 beds by the end of 2027. The company is also discussing potential up-listing, a convertible preferred stock offering, and future cash dividends.
Ethema Health (OTCPINK: GRST) is set to present at the Emerging Growth Healthcare Conference on July 18, 2024 at 10:15 AM Eastern time. CEO Shawn Leon will discuss the company and the effects of the recently announced LOI for the purchase and management of Edgewater Recovery Center .
The live, interactive online event allows shareholders and investors to engage with the CEO in real-time. Attendees can submit questions in advance or during the event. Registration is required to attend and receive updates.
Additionally, Shawn Leon was interviewed by SaveChangeWorld.com on July 14, 2024, primarily discussing Ethema's acquisition of Edgewater Recovery Center. The recorded interview, available on their website, includes projections and Ethema's ongoing financing strategy.
Ethema Health (GRST) has signed a Letter of Intent (LOI) to acquire all assets of Edgewater Recovery Center (ERC), including three real estate holding companies. The agreement also includes a management deal effective July 15, 2024, until the acquisition closes on January 31, 2025. ERC operates in Morehead and Paducah, Kentucky, with around 440 licensed beds and an additional 66 beds coming online in 2024. The acquisition is expected to help Ethema reach its goal of 500 beds by the end of 2025. The deal will also allow Ethema to pursue a sale-leaseback transaction for working capital without new equity. Ethema’s CEO, Shawn Leon, highlighted the strategic benefits, including expanding Medicaid-insured care and up-listing plans.
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