CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM), announces that it completed an accretive transaction whereby the Company has acquired a 51% interest in Coastal Carolina Sedation Associates, LLC (“Coastal Carolina”), a gastroenterology (“GI”) anesthesia practice located in Wilmington, North Carolina.
Coastal Carolina represents the Company’s 30th 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.
Coastal Carolina Transaction Highlights:
- Estimated annual revenue of US $2.1 million
- EBITDA and cash flow accretive
Dr. Tushar Ramani, CEO of CRH, commented on the transaction, “The acquisition of Coastal Carolina continues our recent business development momentum, and represents our 5th anesthesia acquisition since June. We are excited to partner with the talented team of Coastal Carolina providers in order to execute our shared vision of delivering exceptional care.”
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Jay Kreger, President of CRH Anesthesia, added, “With the addition of Coastal Carolina, we are now providing services at 9 ambulatory surgery centers in North Carolina. We look forward to leveraging our expanding GI anesthesia infrastructure as we pursue additional business development opportunities over the remainder of 2020.”