WELL Health Sees CRH Take Majority Stake Of Two Anesthesia Practices

WELL Health Technologies Corp. (TSX: WELL) announced this morning that its recently acquired subsidiary CRH Medical Corporation has completed the acquisitions of 51% equity interest in Northern Indiana Anesthesia Associates and an add-on anesthesia practice in Bradenton, Florida.

These are the 35th and 36th acquisitions of CRH for 2021, respectively.

The Indiana-based group practice provides anesthesia services to an ambulatory surgical center in South Bend, Indiana. The practice has an estimated annual revenue of US$2.1 million with operating EBITDA margins of approximately 45%.

The acquisition of the Bradenton add-on practice will be part of CRH affiliate, FDHS Anesthesia. This move is also expected to immediately be accretive to CRH’s cashflows, with the practice representing an estimated annual revenue of US$1.2 million with operating EBITDA margins of approximately 45%.

Terms of the acquisitions were not released.

Earlier this month, CRH also closed an 85% equity interest acquisition of Connecticut-based anesthesia practice, New England Anesthesia Associates.

WELL Health Technologies Corp. last traded at $6.85 on the TSX.

Information for this briefing was found via Sedar and WELL Health Technologies Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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