Business
Alternate Health Offers a Compelling Value in Medical Cannabis -- CFN Media
Alternate Health Offers a Compelling Value in Medical Cannabis -- CFN Media.
About this update from Alternate Health Corp
[{"type":"text","content":"\n \n \n Alternate Health Offers a Compelling Value in Medical Cannabis -- CFN Media\n \n \nAlternate Health Offers a Compelling Value in Medical Cannabis -- CFN Media\n \n SEATTLE, WA--(Marketwired - Jun 7, 2017) - CFN Media Group (\"CFN Media\"), the leading agency and digital media network dedicated to legal cannabis, today announced publication of an article covering Alternate Health Corp. (CSE: AHG) (OTCQB: AHGIF) and how it's strategically positioned in nearly all facets of the medical cannabis value chain. With existing revenue from its newly acquired lab business, the company aims to finance its ambitions in the medical cannabis industry in terms of its end-to-end patient management system, proprietary delivery systems, and clinical programs.\n Strong Financial Footing\n Alternate Health's primary revenue-generating business is Alternate Health Labs, which is a wholly-owned subsidiary that it acquired in January of this year. The independent clinical laboratory provides clinical blood and urine testing services in San Antonio, Texas, with a focus on handling overflow business from third-party clinical laboratories. With 20 lab techs and state-of-the-art instrumentation, the lab can process more than 3,000 specimens per day. \n Alternate Health reported first quarter revenue of $3.9 million, adjusted EBITDA of $1.4 million, and positive operating cash flow, which was driven primarily by its laboratory business. On its balance sheet, the company reported $11 million in cash on hand with only $500,000 in debt, which provides ample financing for its other efforts. The lab business effectively finances much of the company's operating costs and limits future dilution for shareholders.\n \"We are very pleased with the financial and operational performance during our first active quarter as Alternate Health Corp.,\" said CEO Dr. Jamison Feramisco in the company's financial results press release. \"We achieved outstanding financial growth, raised significant new capital, and completed several key strategic acquisitions and investments. Adjusted EBITDA for the quarter was $1.4 million and we generated positive operating cash flow.\"\n Patient Monitoring System\n Alternate Health may generate most of its revenue from lab operations, but management's long-term focus is on its CanaCard Patient Management System. The innovative softwa...