Ethema Health to Post Strong 4th Quarter Results

Rhea-AI Summary

Ethema Health Corporation (OTCPINK: GRST) submitted its 2021 year-end financial statements for early review. The ARIA treatment center reported an EBITDA of approximately $163,000 for Q4, a 370% increase from Q3. Despite the traditional slow-down in December, the center achieved break-even results and maintained 100% occupancy in February. CEO Shawn Leon expressed optimism for a strong first quarter in 2022, driven by ongoing demand for their services. The company aims to build upon its existing platform in West Palm Beach throughout the year.

Positive

• EBITDA of approximately $163,000 for Q4, a 370% increase over Q3.
• Achieved break-even results in December despite seasonal slow-down.
• 100% occupancy at the ARIA treatment center in February.

Negative

• None.

West Palm Beach, FL, Feb. 28, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) has submitted the 2021 year-end financial statements to the auditor for review much earlier than in previous years.  The segmented information for the ARIA treatment center will show an EBITDA of approximately $163,000 for the fourth quarter which was an approximately 370% increase over the third quarter of 2021.  These results were particularly strong since the traditional expected slow-down in the last half of December resulted in a break even for the month of December.  The ARIA treatment center has continued to do well in the first quarter and achieved 100% occupancy in the last several weeks in February, which the Company expects will result in an even stronger 2022 first quarter.  

Mr. Shawn Leon, Company CEO, reported, “We are pleased with the results at ARIA and had a very strong October and November.  Those results are being surpassed in January and February so we expect a strong first quarter.  We are seeing continued strong demand for our services and we expect to rapidly build on the platform we have in West Palm Beach throughout 2022.”   

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

FAQ

What are the recent financial results for Ethema Health Corporation (GRST)?

Ethema reported an EBITDA of approximately $163,000 for Q4 2021, a 370% increase from Q3.

How did Ethema Health's ARIA treatment center perform in December 2021?

The ARIA treatment center achieved break-even results in December, despite the typical seasonal slow-down.

What is the occupancy rate at Ethema's ARIA treatment center as of February 2022?

The ARIA treatment center reached a 100% occupancy rate in February 2022.

What are the future expectations for Ethema Health Corporation (GRST)?

The CEO expects a strong first quarter in 2022, driven by continued demand for their services.