CRH Medical (WELL Health) Acquires Majority Stakes in Two Anesthesia Practices

WELL / CRH Medical Acquires 85% Stake in New England Anesthesia Associates

May 1, 2021

Healthcare Services

WELL Health Technologies' wholly owned subsidiary CRH Medical Corporation acquired an 85% stake in New England Anesthesia Associates LLC, expanding CRH's anesthesia footprint into Connecticut. NEAA provides anesthesia services to an ambulatory surgical center in Guilford, Connecticut, has an estimated annualized revenue run-rate of approximately US$3.6 million with ~40% operating EBITDA margins, and adds 17 practitioners to CRH's network; the transaction was completed at under 5x trailing operating EBITDA.

WELL/CRH Medical Acquires Majority Stakes in Destin Anesthesia and Pinellas County Anesthesia Associates

October 7, 2021

Healthcare Services

WELL Health’s U.S. subsidiary CRH Medical (through CRH Anesthesia of Florida, LLC) acquired majority stakes in two Florida anesthesia practices — 70% of Destin Anesthesia, LLC and 51% of Pinellas County Anesthesia Associates, LLC. The transactions expand CRH’s anesthesia footprint across ambulatory surgical and endoscopy centers in Florida and are immediately accretive to cashflows.

WELL Health Acquires CRH Medical Corporation

February 8, 2021

Healthcare Services

WELL Health Technologies announced an agreement to acquire all outstanding shares of CRH Medical Corporation for approximately US$292.7M in equity (US$4.00 per share) plus assumed debt, funded by a C$295.5M equity private placement led by Mr. Li Ka-shing and committed credit facilities. The acquisition gives WELL immediate scale in the U.S. healthcare market via CRH's anesthesia services across 69 ASCs and GI clinics, a network of ~3,200 gastroenterologists, and a patented medical device (the CRH O'Regan System), while materially improving WELL's revenue and cash-flow profile.

WELL Health (via CRH Medical) Acquires CarePlus Management

July 13, 2023

Healthcare Services

WELL Health Technologies’ wholly owned subsidiary CRH Medical has completed the acquisition of Atlanta-based CarePlus Management, adding CarePlus’s RADAR recruitment/locum tenens staffing, anesthesia services across ASCs, and Premier Choice revenue cycle management capabilities to CRH’s portfolio. The deal expands CRH’s U.S. anesthesia footprint, adds provider recruitment and RCM capabilities, and increases WELL’s 2023 revenue guidance.

CRH Medical Acquires Stakes in Two Georgia Anesthesia Practices

June 8, 2020

Healthcare Services

CRH Medical Corporation acquired a 75% interest in Lake Lanier Anesthesia Associates (Gainesville, GA) and established a de novo joint venture owning 51% of Oconee River Anesthesia Associates (Athens, GA). The transactions are accretive to EBITDA and expand CRH’s anesthesia footprint in Georgia, adding services to multiple ambulatory surgery centers.

WELL Health Acquires Seven Healthcare Assets Including Jack Nathan Health and Harmony Anesthesia Staffing

January 14, 2025

Healthcare Services

WELL Health Technologies completed seven acquisitions since December 2024 that together add approximately $100 million of annualized revenue, financed in cash. The deals include the acquisition of Jack Nathan Health (72-clinic network), physician recruitment platform Physicians For You, two primary care clinics (Lonsdale Clinic and HealthPark), two WELLSTAR technology assets (a regional EMR and a healthcare technology services business), and a 65% interest in Atlanta-based Harmony Anesthesia Staffing through its US subsidiary CRH.