VANCOUVER, BC, April 5, 2021 /CNW/ - CRH Medical
Corporation ("CRH", or the "Company") (TSX: CRH) (NYSE MKT:
CRHM) announces that it has completed an accretive transaction
whereby the Company has acquired the remaining 25% interest in Lake
Lanier Anesthesia Associates ("LLAA") a gastroenterology anesthesia
practice located in Georgia. CRH
initially acquired 75% of LLAA in June of 2020.
This transaction will increase adjusted operating EBITDA
attributable to shareholders, as CRH now owns 100% of LLAA. This
transaction was financed through a combination of CRH's credit
facility and cash on hand.
Jay Kreger, President of CRH
Anesthesia, added, "Our initial partnership with LLAA has proven to
be a highly successful venture, giving both CRH and our partners at
LLAA the conviction and trust necessary to move forward with full
alignment. Moreover, we think the two-step approach we have
employed with LLAA is a great example of the flexible and
differentiated model that we can employ towards business
development."
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. In 2014,
CRH became a full-service gastroenterology anesthesia company that
provides anesthesia services for patients undergoing endoscopic
procedures in ambulatory surgical centers. To date, CRH has
completed 33 anesthesia acquisitions, and now serves 72 ambulatory
surgical centers in 15 states. In addition, CRH owns the CRH
O'Regan System, 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.
http://investors.crhsystem.com/
Cautionary Note Regarding Forward-Looking Statements
Certain statements and information included or incorporated by
reference in this document may constitute "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of Canadian securities laws (collectively,
"forward-looking statements"). Forward looking statements include
statements regarding the expected benefits of the Company's
recently completed acquisition, as well as all other statements
that are not statements of historical fact. Forward-looking
statements are generally identifiable by use of the words "may,"
"will," "should," "expect," "anticipate," "estimate," "believe,"
"plan," "intend" or "project" or the negative of these words or
other variations on these words or comparable terminology.
Forward-looking statements reflect current expectations of
management regarding future events and performance as of the date
of this document and involve known and unknown risks, uncertainties
and other factors which may cause our actual results to be
materially different those expressed or implied by any
forward-looking statements. These forward-looking statements should
not be read as guarantees of future results, and there can be no
assurance that the results expressed or implied by any
forward-looking statements will be achieved. Important factors that
could cause actual results to differ materially from the results
discussed in forward-looking statements include: (i) the risk that
the Company may be unable to achieve anticipated synergies relating
to the acquisition, or that such acquisition could result in
unforeseen operating difficulties and expenditures, or require
significant management resources and significant charges; (ii) the
possibility that the Company will be unable to retain key
personnel; (iii) the risk that customers may terminate or choose
not to renew their agreements with us, that we are unable to
maintain or increase anesthesia procedure volumes or that there are
changes to payment rates or methods of third-party payors;
(iv) the risk of other disruption from the acquisition, including
potential adverse reactions or changes to business relationships
with customers, employees, suppliers or regulators, making it more
difficult to maintain business and operational relationships; (v)
risks and uncertainties relating to the pending transaction between
the Company and WELL Health Technologies Corp., including those
relating to the parties' ability to consummate the proposed
transaction in the time period expected or at all, and the parties'
ability to achieve the anticipated benefits of such transaction;
(vi) uncertainties related to developments in the COVID-19 pandemic
and its impact on the Company's operations; and (vii) uncertainties
related to general economic, financial, regulatory and political
conditions, as well as potential changes in law and regulatory
interpretations.
Additional factors that could cause actual results to differ
materially from expectations include, without limitation, the risks
identified by the Company in its most recent Annual Report on Form
10-K, its Quarterly Reports on Form 10-Q and its Current Reports on
Form 8-K, which are available on EDGAR at www.sec.gov/edgar.shtml
or on the Company's website at www.crhmedcorp.com The Company
disclaims any intent or obligations to update or revise publicly
any forward-looking statements whether as a result of new
information, estimates or options, future events or results or
otherwise, unless required to do so by law.
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SOURCE CRH Medical Corporation