CRH Medical Buys New England Anesthesia Associates

CRH Medical Buys New England Anesthesia Associates

by | May 11, 2021 8:46 am | Physician Medical Groups | 0 comments

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,... Read More »
WELL Health Acquires CRH Medical Corporation

WELL Health Acquires CRH Medical Corporation

by | Feb 8, 2021 4:19 pm | Physician Medical Groups | 0 comments

WELL Health Technologies Corp. (TSX.V: WELL) had an incredibly busy year in 2020, announcing eight deals, according to search results in our Healthcare Deals Database. Most of its activity focused on smaller eHealth targets to build up its digital health platform, but now WELL Health is turning its attention to the physician market. On Monday, the company announced the acquisition of CRH Medical Corporation (NYSE: CRHM), which provides physicians with innovative services and products for the treatment of gastrointestinal diseases. CRH serves 69 ambulatory surgical centers in 13 states. The purchase price came out to be $292.7 million, or $4.00 per share for CRH, a premium of approximately... Read More »
CRH Medical Adds Two New Physician Groups

CRH Medical Adds Two New Physician Groups

by | Jun 12, 2020 2:09 pm | Physician Medical Groups | 0 comments

After a brief hiatus from the healthcare M&A market, CRH Medical Corporation (NYSE: CRHM) added two new Georgia-based physician groups to its network in early June. CRH, based in Vancouver, Canada, provides physicians with innovative services and products for the treatment of gastrointestinal diseases. The company acquired Oconee River Anesthesia Associates and Lake Lanier Anesthesia Associates. Lake Lanier provides anesthesia services to two ambulatory surgery centers, and the group generates an estimated annual revenue of $2.7 million. The acquisition for Lake Lanier was financed through a combination of CRH’s credit facility and cash on hand and is EBITDA and cash flow... Read More »
Physician Practices Find Many Buyers

Physician Practices Find Many Buyers

by | Mar 23, 2018 1:45 pm | Physician Medical Groups, Private Equity | 0 comments

The first quarter of 2018 is nearly over (one week left to go), and the Physician Medical Group sector is still in acquisition mode. Last year, the first quarter saw a record 59 deals announced for physician groups. This year’s Q1 total won’t challenge that, but the 30 deals reported so far show interest isn’t waning for buyers or sellers. We’ve written extensively about private equity groups building platforms of specialty practices, particularly dermatology, anesthesia and ophthalmology. But publicly traded entities are still in the hunt. In the first three weeks of March 2018, 13 deals for physician practices were announced, although none disclosed financial... Read More »