CRH Medical Corporation (the “Company”) (TSX: CRH) (NYSE MKT: CRHM), announces that it completed an accretive transaction whereby the Company has acquired a 75% interest in Metro Orlando Anesthesia Associates, LLC (“Metro Orlando”), a gastroenterology (“GI”) anesthesia practice located in Orlando, Florida.
Metro Orlando represents the Company’s 27th acquisition, and provides anesthesia services to a single ambulatory surgery center. The transaction was financed through a combination of CRH’s credit facility and cash on hand.
Metro Orlando Transaction Highlights:
- Estimated annual revenue of US $1.9M
- Adjusted Operating EBITDA and cash flow accretive
Dr. Tushar Ramani, CEO of CRH, commented on the transaction, “We are delighted to announce this second acquisition in June, representing a continued rebound in activity following the temporary pause in business development transactions we had implemented in March due to the impact of COVID-19. We remain constructive on our pipeline and our ability to continue to capitalize on future business development opportunities”
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Jay Kreger, President of CRH Anesthesia, added, “We are excited to partner with this talented group of providers to support their growth and commitment to quality patient care. Metro Orlando increases our presence in Florida to eight ambulatory surgery centers. We conducted a thorough review of the restored operations at the practice, which enabled us to execute the transaction.”