CRH Medical Corporation (TSX:CRH) (NYSE MKT:CRHM) announces that it has completed an accretive transaction whereby CRH has acquired a 51% interest in a gastroenterology anesthesia practice in Dayton, Ohio.

Western Ohio provides anesthesia services to three ambulatory surgical centers and is CRH’s first acquisition in the state of Ohio. The transaction was financed through a combination of CRH’s credit facility and cash on hand.

Western Ohio transaction highlights:

• Estimated annual revenue of US$5.3 million
• EBITDA and cash flow accretive

Edward Wright, CEO of CRH, commented on the transaction, “We are very pleased to have completed another accretive acquisition in 2018. Western Ohio is an existing O’Regan customer and our first acquisition in Ohio. We look forward to continuing to leverage the strength of our O’Regan relationships to further expand our anesthesia business.”

About CRH Medical Corporation:

CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. In 2014, CRH became a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. To date, CRH has completed 17 anesthesia acquisitions. CRH now serves 39 ambulatory surgical centers in nine states and performs approximately 272,000 procedures annually. In addition, CRH owns the CRH O’Regan System, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. CRH’s O’Regan System is currently used in all 48 lower US states.