CRH Medical Corporation Announces Purchase of Remaining Ownership in Lake Lanier Anesthesia Associates

Author: Benzinga Newsdesk | April 05, 2021 08:09am

CRH Medical Corporation ("CRH", or the "Company") (TSX:CRH) (NYSE:CRHM) announces that it has completed an accretive transaction whereby the Company has acquired the remaining 25% interest in Lake Lanier Anesthesia Associates ("LLAA") a gastroenterology anesthesia practice located in Georgia. CRH initially acquired 75% of LLAA in June of 2020.

This transaction will increase adjusted operating EBITDA attributable to shareholders, as CRH now owns 100% of LLAA. This transaction was financed through a combination of CRH's credit facility and cash on hand.

Jay Kreger, President of CRH Anesthesia, added, "Our initial partnership with LLAA has proven to be a highly successful venture, giving both CRH and our partners at LLAA the conviction and trust necessary to move forward with full alignment. Moreover, we think the two-step approach we have employed with LLAA is a great example of the flexible and differentiated model that we can employ towards business development."

Posted In: CRHM TSX:CRH