CRH Medical Acquires Stakes in Two Georgia Anesthesia Practices

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 / 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.

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/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.

ICON Medical Network Holdings Acquires Independence Anesthesia Services

May 12, 2021

Healthcare Services

ICON Medical Network Holdings (ICON), a national locum tenens provider based in Dallas, has acquired Independence Anesthesia Services, an anesthesia locum tenens agency based in Athens, Georgia with over 17 years of experience. The acquisition expands ICON’s locum tenens portfolio by adding Certified Registered Nurse Anesthetist (CRNA) staffing capabilities and broadening its national footprint.

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.