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 a 51% ownership interest in Florida Panhandle Anesthesia Associates, LLC, (“Florida Panhandle”), a gastroenterology anesthesia practice located in Florida.
Florida Panhandle is the company’s sixth acquisition in the state of Florida and provides anesthesia services to a single GI ambulatory surgery center. The transaction was financed through a combination of CRH’s credit facility and cash on hand.
Florida Panhandle Transaction Highlights:
- Estimated annual revenue of US $2.0M
- EBITDA and cash flow accretive
“We are pleased to announce our latest acquisition in Florida,” commented Dr. Tushar Ramani, CEO of CRH. “Florida Panhandle increases our footprint in Florida to six anesthesia groups and represents CRH’s 25th anesthesia acquisition.”
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“The acquisition of Florida Panhandle was the result of a referral from one of our existing anesthesia partners,” noted Jay Kreger, President of CRH Anesthesia. “With a burgeoning acquisition pipeline, we expect our transaction momentum to continue in 2020.” .
Source: Prnews Wire