TORONTO, Aug. 25 /PRNewswire-FirstCall/ - AIM Health Group Inc. ('AIM' or the 'Company') (TSXV - AHG), a fully integrated health care company, announced today that its net income for the three month period ended June 30, 2009 (the 'Quarter') increased to $365,645 from a loss of $118,223 in the same period in 2008. At the same time EBITDA(1) increased 380% to $806,838 from $167,150, on a quarter-over-quarter basis. The Company also announced that revenues increased 102% to $14.2 million in the Quarter from $7.0 million for the same period in 2008. Revenue and income include the operating results of Med-Emerg International (MedEmerg) since its acquisition on January 20, 2009.
For the six months ended June 30, 2009, net income increased to $637,480 from a loss of $150,417 for the same period in 2008. Similarly, EBITDA increased to $1,479,141 for the six months ended June 30, 2009, compared to $415,960 in the same period in 2008 and revenues increased from $14.9 million to $27.3 million, on a year-over-year basis.
Lu Barbuto, President and Chief Executive Officer of AIM commented, 'We expect that our results will continue to improve as we harmonize the combined management experience. The clinical and business expertise of our expanded management team will allow us to dedicate more resources to the growth of our service lines and provide leadership in community-based health delivery.
With the integration of three of our pain management centres into our Health and Wellness Centres, we are starting to demonstrate positive financial results in our pain business. In this second quarter, we opened our two largest Health and Wellness Centres located in Ottawa and in Mississauga, both of which include our new pharmacy services. Our Health and Wellness Centres are the cornerstone of our community-based health services delivery model, and consistent with the needs of the consumer, we expect that these centres will continue to create more opportunities for growth.'
Dr. Barbuto added, 'Our business is heavily dependent on the quality, experience and skills of our people. One of our priorities in the integration with MedEmerg was to identify management roles and to define areas of responsibility. In this regard we are pleased to announce the following appointments:
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