EQS-News: Ethema Updates Shareholders on Public Filings and Interim Results

WEST PALM BEACH, FLORIDA - July 15, 2025 (NEWMEDIAWIRE) - Ethema Health Corporation (OTCPINK: GRST) (“Ethema” or the “Company”), updates shareholders on public filings and interim results.

The Company experienced audit related delays in its filing of its 2024 10-K which has caused a further delay in filing its first quarter results. The first quarter review is currently underway and is expected to be filed before month end which will then allow the Company to get its second quarter filed on time. 

The Company filed for listing on the new OTC-ID market in June and was approved for listing as soon as it files its first quarter financials on form 10-Q. The current listing on the Pink market will switch to the Expert Market on July 18, 2025 and will be restored to the OTC-ID market as soon as the first quarter 10-Q is filed. 

2025 GUIDANCE

Revenues for the first quarter ended March 31, 2025, was approximately $3.5 million, including revenue of approximately $2.1 million from our Kentucky operations that was acquired with effect from January 9, 2025. 

Revenues for the second quarter ended June 2025, was approximately $4.4 million, subject to audit review.

Our current revenue projection and trend for the quarter ending September 30, 2025 is expected to be $5.5 million, subject to any unforeseen circumstances. We expect our facilities to reach optimum efficiency when quarterly revenues are approximately $6.3 million   The Company is quickly approaching maximum efficiency levels and will look for further expansion through acquisition and organic growth.  

FLORIDA RE-CERTIFICATION AND EXPANSION

Ethema was recently re-certified for another three years by the internationally recognized Joint Commission accrediting body.  The Joint Commission completed its audit of our West Palm Beach and Boca Raton locations, with minimal and minor findings, demonstrating our commitment to the safety and quality of our care for our patients and the successful outcome of our treatment regimens. In addition, the accreditation ensures we maintain and exceed state and local regulatory compliance requirements. The Boca Raton facility recently reached capacity and total occupancy in Florida reached 93% in July. The Company is working on improvements to its properties and staff to further enhance and improve customer experience.

KENTUCKY LICENSING AND EXPANSION

We are pleased to report that we have completed at least 70% of the process of certification and listing with the Managed Care Organizations representing Medicaid in Kentucky.  We have completed the process with Humana and Aetna and expect to be added to the Passport Molina system in the next two weeks. The process with United and Wellcare is well underway but may take a few weeks longer.   These processes will complete the transition from Edgewater Recovery Centers to ARIA Kentucky. In addition, we are pleased to announce that we have been added as an approved provider to the Department of Corrections (“DOC”) in Kentucky allowing the DOC to refer clients to ARIA Kentucky for treatment. 

Our Kentucky operations have a total of 347 licensed beds of which 275 are fully staffed and operational, the remaining 72 will become operational and staffed when our patient count increases. In addition to this, we have an additional 36 beds available to outpatients that have completed our programs and are in a transitional period. The current total census has reached approximately 230 customers, allowing for significant further growth. 

Mr. Shawn Leon, Company CEO, reported, “The Kentucky operations are significant to the group and the integration has gone very smoothly, primarily attributable to our very dedicated teams in Florida and Kentucky. The Joint Commission audit in Florida was one of our best ever results for an accrediting audit and I am very proud of the Florida team for that accomplishment. We will continue to optimize the Florida and Kentucky assets and increase our patient count in our facilities, which will improve our profitability prospects.” 

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

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News Source: Ethema Health Corporation