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

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

May 27, 2021

Healthcare Services

CRH Medical Corporation, a wholly owned subsidiary of WELL Health Technologies, acquired 51% stakes in Northern Indiana Anesthesia Associates, LLC and an add-on Bradenton, Florida practice for FDHS Anesthesia, LLC. The two accretive add-ons have a combined annualized revenue run-rate of approximately US$3.3 million, add 16 practitioners, and expand CRH's anesthesia footprint across ambulatory surgical centers in the United States.

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/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.

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.

GHR Healthcare Acquires United Anesthesia Associates, Inc.

June 26, 2024

Healthcare Services

GHR Healthcare has acquired United Anesthesia Associates, Inc., a Greensboro-based provider of CRNA and anesthesiologist locum tenens and staffing services. The acquisition, executed by GHR (a MidOcean Partners-backed platform), expands GHR's advanced practice and physician locum tenens capabilities and extends anesthesia staffing coverage for hospitals and surgery centers nationwide.

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.