Ethema Health Corporation Announces Delays in Public Filings Amid Growth and Expansion Efforts

Ethema Health Corporation has recently communicated to its shareholders about delays in submitting its 2024 10-K and first quarter results, citing audit-related challenges as the primary reason. The company, however, remains optimistic about filing its first quarter review by the month's end, a step that is crucial for the timely submission of its second quarter results. This development comes as Ethema's application for listing on the OTC-ID market has been approved, contingent upon the filing of its first quarter financials. Meanwhile, its current listing on the Pink market is set to transition to the Expert Market on July 18, 2025.

Financially, Ethema has reported promising figures, with first quarter revenues in 2025 reaching approximately $3.5 million, $2.1 million of which was generated from its newly acquired Kentucky operations. The company estimates second quarter revenues at $4.4 million, subject to audit review, and projects third quarter revenues to climb to $5.5 million. Ethema's strategic goal is to achieve quarterly revenues of $6.3 million to reach optimum efficiency, a target it plans to meet through both acquisitions and organic growth initiatives.

In a significant nod to its operational excellence, Ethema's Florida facilities have been re-certified by the Joint Commission for another three years, underscoring the company's dedication to maintaining high standards of care and compliance. The Boca Raton facility is currently operating at full capacity, with Florida-wide occupancy rates hitting 93% in July. The company's Kentucky operations have also seen notable advancements, including successful certification and listing with Managed Care Organizations such as Humana and Aetna, and anticipates joining the Passport Molina system soon. Additionally, Ethema has gained approval as a provider by the Kentucky Department of Corrections, facilitating client referrals to its ARIA Kentucky facility.

With 347 licensed beds in Kentucky, 275 of which are operational, Ethema is well-positioned for further expansion, currently serving around 230 customers. CEO Shawn Leon expressed satisfaction with the integration of Kentucky operations and the positive outcome of the Joint Commission audit in Florida, reiterating the company's commitment to asset optimization and increasing patient numbers to boost profitability. For more information on Ethema's services and operations, visit https://www.ethemahealth.com.