CRH Medical Corporation, announces that it has completed an accretive transaction whereby the Company has acquired a 55% interest in South Metro Anesthesia Associates, LLC, a gastroenterology anesthesia practice located in Georgia.
South Metro is the company’s fourth acquisition in the state of Georgia and provides anesthesia services to two GI ambulatory surgery centers. The transaction was financed through a combination of CRH’s credit facility and cash on hand.
South Metro Transaction Highlights:
- Estimated annual revenue of US$1.0M
- EBITDA and cash flow accretive
Dr. Tushar Ramani, CEO of CRH, commented on the transaction, “We are pleased to announce this latest acquisition, as we continue to execute on our pipeline of opportunities. South Metro Anesthesia Associates is now our 4th group in Georgia, further extending our footprint in the state. Nationwide, South Metro represents our 22nd anesthesia acquisition and is a result of a referral from within our existing relationships. Importantly, this acquisition confirms the value that gastroenterologists find in seeking partnerships with CRH, while further expanding our anesthesia business, and creating additional value for our shareholders.”
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Date: May 20, 2019
Source: Yahoo Finance
