CRH Medical Corporation (the “Company”) (CRH.TO) (NYSE MKT: CRHM), announces that it has completed an accretive transaction whereby the Company has acquired a 51% interest in Crystal River Anesthesia Associates, LLC, (“Crystal River”) a gastroenterology anesthesia practice located in Florida.
Crystal River is the company’s fifth acquisition in the state of Florida 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.
Crystal River Transaction Highlights:
- Estimated annual revenue of US$1.6M
- EBITDA and cash flow accretive
Dr. Tushar Ramani, CEO of CRH, commented on the transaction, “We are pleased to announce our latest acquisition in Florida. Crystal River is now our 5th group in the state, further consolidating our footprint there. Nationwide, this represents our 23rd anesthesia acquisition, and is again a result of a referral from within our existing network, which reinforces the value that gastroenterologists find in our partnerships with them. We continue to make progress on our stated acquisition goal for 2019, and on growing shareholder value.”
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Date: July 29, 2019
Source: <span style=”color: #000000;”><a style=”color: #000000;” href=”https://finance.yahoo.com/news/crh-medical-corporation-announces-majority-123000053.html” target=”_blank” rel=”noopener noreferrer”>Yahoo Finance</a></span>