CRH Medical Corporation has had a busy year. Even after it was acquired by WELL Health Technologies Corp. (TSX.V: WELL) for $292.7 million (or $369.2 million including debt), the company has remained a prolific buyer in the healthcare market, announcing four deals so far this year.
The latest deal from the company was announced in Connecticut for the purchase of New England Anesthesia Associates LLC for approximately $7.2 million. New England Anesthesia Associates (NEAA) provides anesthesia services to an ambulatory surgical center. The group has 17 practitioners. It has an estimated EBITDA of $1.44 million and an annualized revenue run rate of $3.6 million.
With this deal, CRH Medical Corporation now has a presence in 16 states and serves 73 ambulatory surgery centers. This is the company’s first deal in Connecticut. CRH Medical now has more than 800 health practitioners.
With the backing of WELL Health, it seems like CRH Medical might beat its M&A activity from 2020, when it announced eight deals, as seen in search results in our Healthcare Deals Database. CRH generated annualized EBITDA and revenues of approximately $44.5 million and $121.3 million, respectively, in 2020. Last year, the company mostly focused on targeting small (1-2 physicians) practices specializing in gastroenterology anesthesia services for ambulatory surgery centers in the southeastern United States, so it looks like it might be moving north in 2021.
