Welcome to our dedicated page for Ethema Hlth news (Ticker: GRST), a resource for investors and traders seeking the latest updates and insights on Ethema Hlth stock.
Ethema Health Corporation (OTCPINK: GRST) is a behavioral healthcare company focused on the treatment of substance use disorders, with operations centered on in-patient treatment for adults. Through its ARIA (Addiction Recovery Institute of America) subsidiary and managed operations in Florida and Kentucky, the company regularly releases news about facility licensing, expansion, and corporate developments.
On this page, readers can follow Ethema’s announcements about new and expanded treatment facilities, such as ARIA’s licensed inpatient detoxification and Residential Level 1 center in Boca Raton, Florida, and updates related to the management and planned acquisition of Edgewater Recovery Center in Kentucky. These items provide insight into the company’s growing treatment capacity, regulatory milestones, and the populations it serves, including Medicaid insured clients in Kentucky.
Ethema also issues news about its participation in investor conferences, including The Microcap Conference and Emerging Growth healthcare events, where management presents on growth strategy, acquisitions, financing plans, and its behavioral health platform. These releases offer context on how the company communicates with shareholders and potential investors.
By reviewing the Ethema Health Corporation (GRST) news feed, investors and observers can track developments in its substance use disorder treatment operations, licensing progress, bed capacity expansion, and capital markets outreach. This page brings together company-issued updates in one place for convenient reference.
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Ethema Health Corporation (OTCPINK: GRST) announced its annual report on March 31, 2023, revealing an operating income of $0.5 million for its Evernia subsidiary, slightly below its 2022 target. The company achieved a total operating profit of $0.6 million, despite a depreciation and amortization charge of $0.5 million. They successfully divested two non-core subsidiaries, resulting in a $0.6 million gain and a cleaner balance sheet. Ethema is finalizing an acquisition deal with a target company, with a closing date projected for July 1, 2023. The acquisition of real property for Evernia has been deferred to explore financing alternatives.
Ethema Health Corporation (OTCPINK: GRST) announced an extension to its note payment due on March 1, 2023, now due May 8, 2023. The company continues to pay interest on this note. Additionally, Ethema extended the closing on the real estate purchase at 950 Evernia Street to June 1, 2023, with potential fees reaching $70,000 for full extensions. The company is working on financing through a Reg A+ offering to fund an acquisition. They are also finalizing a lease location in Orlando for a new facility. Although the Aria facility may fall short of its $1,000,000 EBITDA goal for 2022, other subsidiaries remain on budget. The 10-K will reflect divestitures to clean up the balance sheet.
Ethema Health Corporation (OTCPINK: GRST) reported a companywide EBITDA of $898,920 for the first nine months of 2022. Its ARIA subsidiary achieved an EBITDA of $712,839, while PB Billing LLC contributed $34,579. The company has qualified for SEC form 1A, enabling it to raise new equity. Ethema is pursuing a potential acquisition valued at approximately $3.8 million and plans to acquire the property leased by its ARIA subsidiary by January 2023. CEO Shawn Leon expressed confidence in reaching an EBITDA goal of $1 million for the year.
Ethema Health Corporation (OTCPINK: GRST) has signed a purchase and sale agreement for a building at 950 Evernia Street, West Palm Beach, for its ARIA subsidiary. A total deposit of $400,000 has been made, with a closing date set for January 31, 2023. The company plans to finance the purchase with a Regulation A offering. Meanwhile, ARIA has completed its first-floor occupancy and is expanding bed capacity. CEO Shawn Leon reported a record revenue increase of approximately 25% in Q3, despite seasonal industry slowdowns. The full quarterly results will be disclosed in upcoming filings.
Ethema Health Corporation (OTCPINK: GRST) reported a strong second quarter for 2022, with its ARIA subsidiary achieving a remarkable $404,700 EBITDA, marking a 117% increase from the previous quarter. This growth stemmed from added beds and improved reimbursement rates. Additionally, the newly operational PB Billing LLC generated an EBITDA of $3,906. The company is finalizing the purchase of its operational building, and CEO Shawn Leon highlighted record billing claims for July, signaling ongoing expansion plans.