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.