PROTECH HOME MEDICAL SUBMITS APPLICATION TO LIST ON NASDAQ
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Cincinnati, Ohio – January 13, 2021 – Protech
Home Medical Corp. (“Protech” or the
“Company”) (TSXV:PTQ; OTCQX:PTQQF) a
U.S. based leader in the home medical equipment industry, focused on end-to-end
respiratory care, is pleased to announced that it has applied to list its
common shares on the NASDAQ Capital Market (“NASDAQ”).
In advance of a potential listing on the
NASDAQ, Protech will file a Form 40-F Registration Statement with the United
States Securities and Exchange Commission. The listing of the Company’s common
shares on the NASDAQ remains subject to the approval of the NASDAQ and the
satisfaction of all applicable listing and regulatory requirements. While
the Company intends to satisfy all of the applicable listing criteria, no
assurance can be given that its application will be approved. During the NASDAQ
review process, and in the event of listing on NASDAQ, the Company’s common
shares will continue to trade in Canada on the TSX Venture Exchange under its
symbol “PTQ”.
“The submission of our
application to list on the NASDAQ is a reflection of the tireless effort of the
entire Protech team during a continued period of rapid growth for our company.
This marks a significant milestone in our Company’s life cycle, and we are
excited about substantially increasing our exposure and accessibility to the
U.S. capital markets sphere and to U.S. based institutional and retail
investors.” said Greg Crawford, Chairman and CEO of Protech. “A NASDAQ listing,
coupled with our aggressive expansion plans is expected to continue to lead us
down the path of becoming a premier technology driven clinical respiratory
company in the United States.”
Chief Financial Officer,
Hardik Mehta added, “The evolution of Protech over the past two years has been
evidenced by our continued record financial and operating performance. With
over $28 million in cash and an untapped US$20 million revolving credit
facility with CIT Bank’s Healthcare Division, we are in the strongest position
in the history of the company to aggressively match our organizational growth
with our level of capital markets exposure. We feel having a tier-one listing
on a prominent U.S. exchange such as NASDAQ will allow us to meet this goal as
we are excited to be active in sharing our company’s ongoing success on both
sides of the border in an effort to further enhance shareholder value.”
Protech provides home
delivery and efficient online set-up of equipment for primarily chronic
conditions. The Company, based in the United States, operates out of 48
locations in 10 states with over 17,000 referring physicians and approximately
110,000 current active patients.