Acquisition AnnouncementCRH Medical Corporation Announces the Purchase of Shreveport Sedation Associates VANCOUVER, B.C. – March 19, 2018 – CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) (the “Company”), announces that it has completed an accretive transaction whereby CRH has acquired a gastroenterology (“GI”) anesthesia practice (100%) in Shreveport, Louisiana (“Shreveport”).
Shreveport provides anesthesia services to an ambulatory surgical center and is CRH’s first acquisition in the state of Louisiana. The transaction was financed through a combination of CRH’s credit facility and cash on hand.
Shreveport transaction highlights:
- Estimated annual revenue of US$3.5 million
- EBITDA and cash flow accretive
Edward Wright, CEO of CRH, commented on the transaction, “We are very pleased to have completed our first acquisition of 2018. Shreveport is an existing O’Regan customer and our first acquisition in Louisiana. We look forward to continue leveraging the strength of our O’Regan business to expand our anesthesia business further.”
About CRH Medical Corporation CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. The CRH O’Regan System is a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. CRH’s O’Regan System is currently used in all 48 lower US states. In 2014, CRH acquired Gastroenterology Anesthesia Associates, LLC (“GAA”), a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures. Since then, CRH has incorporated 15 additional acquisitions to its anesthesia business. CRH Anesthesia now services 36 ambulatory surgical centers in eight states and performs approximately 250,000 procedures annually.
Contact information: Kettina Cordero, Director of Investor Relations
CRH Medical Corporation
800.660.2153 x1030
kcordero@crhmedcorp.com https://investors.crhsystem.com/