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.
Ethema Health Corporation (OTCPINK: GRST) announced that the Florida Department of Children and Family Services issued full licenses for Evernia Health Center LLC (ARIA), effective for one year starting June 30, 2021. Despite facing challenges, including Covid-19 impacts and building permit delays, ARIA has maintained high admissions. The Company repaid a $72,000 convertible note debt, reducing liabilities. Additionally, ARIA is positioned for property acquisition near the University of Florida's new campus, enhancing its value. Future quarterly reports are expected to show improved financial results.
Ethema Health Corporation (OTCPINK: GRST) announced the acquisition of a majority interest in Evernia Health Center LLC, effective July 1, 2021. This acquisition allows Ethema to hold 75% of American Treatment Holdings, Inc., the parent company of Evernia. The company has also secured necessary licenses from Florida's Department of Children and Families. ARIA is projected to generate about $1.8 million in revenue for the latter half of 2021. Part of the acquisition included an operating loan and the issuance of 100 million shares. Ethema aims for further revenue expansion through facility growth.
Ethema Health Corporation (OTC PINK: GRST) announced that Florida's Department of Children and Families approved the change of ownership for the ARIA treatment center, with the new license expected next week. CEO Shawn Leon highlighted recent progress in debt reduction and restructuring, expressing excitement about reporting on the financial operations of the acquisition in Q2. The company plans to increase transparency by providing regular updates on Twitter regarding key disclosures in compliance with SEC regulations.
Ethema Health Corporation (OTCPINK: GRST) announced a $230,000 fixed-rate convertible note financing from Labrys Fund, LP, as detailed in an 8-K filing. The funding will address outstanding liabilities and support general working capital. The company is expanding its West Palm Beach treatment facility, aiming to increase bed capacity from 40 to 52 within 60 days. In 2021, GRST successfully replaced or retired nearly $900,000 in debt, including significant conversion to equity, improving its capital structure. CEO Shawn Leon emphasized the importance of shareholder communication and ongoing debt reduction efforts.
Ethema Health Corporation (OTCPINK: GRST) has made significant changes to its debt position, as detailed in an 8-K filed with the SEC. The company closed on a one-year convertible note of $550,000, utilizing proceeds to fully repay several convertible notes to lenders, thereby reducing potentially dilutive debt. CEO Shawn Leon expressed confidence in this move, highlighting a shift from variable to fixed-rate convertible debt. The repayments have decreased shareholder dilution considerably, enhancing the company’s financial stability.
Ethema Health Corporation (OTCPINK: GRST) is increasing its stake in the ARIA treatment center, enhancing its ownership from 51% to 75%. This decision follows the facility's profitability and positive cash flow after becoming an in-network provider for Florida Blue. The deal includes a $50,000 payment and the issuance of 100 million shares to the seller. With the construction of the center's first floor underway, bed capacity will rise from 40 to 52. The transaction is pending approval from the Florida Department of Children and Families and is expected to close in late May 2021.
Ethema Health Corporation (OTCPINK: GRST) has partnered with Sparta Group to create a joint venture focused on manufacturing hypochlorous acid (HOCl) products aimed at virus protection. This collaboration follows the successful implementation of HOCl systems at Ethema's Addiction Recovery Institute of America facility amid the COVID-19 pandemic. The joint venture seeks to explore HOCl applications across various sectors, leveraging Sparta's expertise in pathogen protection. Both companies aim to enhance workplace hygiene and tackle growing concerns about harmful pathogens.
Ethema Health Corporation (OTCPINK: GRST) announced that its ARIA treatment facility in West Palm Beach, Florida, became an approved provider for New Directions Behavioral Health, managing services for Blue Cross and Blue Shield of Florida. This approval retroactively affects treatments from January 22, 2021, significantly increasing client intake at ARIA, which has reached near-capacity levels. Beginning March 1, 2021, ARIA will expand its facilities, increasing bed capacity from 40 to 52 to accommodate the demand from Florida Blue policyholders.
Ethema Health Corporation (OTCPINK: GRST) announced that its subsidiary, Evernia Health Center LLC, has obtained a license from Florida's Department of Children and Family Services to provide addiction treatment services. The facility will operate under the name Addiction Recovery Institute of America (ARIA) and will offer a range of services including detox and outpatient programs. The company is also working on acquiring a minority interest in Biohazard Health Services Ltd., conditional upon current filings and due diligence. The treatment facility will be certified for cleanliness to ensure safety against potential virus exposures.