Dear shareholders and prospective shareholders,
This morning, we announced that we will commence trading on the NYSE MKT on September 3rd under the symbol “CRHM”. We will also be ringing the opening bell at the New York Stock Exchange that morning. This is a major milestones in the evolution of CRH as it broadens our access to the capital markets and investment community in the US. It also makes it significantly easier for US investors to purchase our shares in US dollars.
With the vast majority of our revenue generated from our US operations, it is also a logical progression as we can now increase our capital markets exposure in what is ultimately our home operating market. We are eager to fully engage the US market, educate investors about why CRH is a compelling investment today, and communicate what our plans for growth are moving forward.
Acquisition of Associates of Digestive Health
We were also very pleased to announce the acquisition of the anesthesia business of a GI practice in Cape Coral, Florida. Associates of Digestive Health (ADH) is expected to add approximately 10,000 procedures to our annual volume, and contribute an estimated $3 million to our annual revenue. It is important to note that ADH has been a CRH O’Regan customer for over 3 years, and transactions such as this one validate our thesis that we will be able to leverage the meaningful relationships we have worked hard to build with the GI community, into the growth of our anesthesia management business.
During the month of August we have had several introductory calls with portfolio managers not yet familiar with CRH, as well as follow up calls as we work to build what looks like a busy September roadshow schedule. With the announcement of our intention to become a dual listed company, our marketing to US-based institutions will increase in the coming months and become a significant part of our 2016 investor relations plan. Meeting with, and educating the investment community on both sides of the border continues to be our primary investor relations focus.
This month, we attended two conferences – GI Outlook held in Chicago, IL and the ACG Regional Midwest Course held in Kansas City, MO.
GI Outlook is a well-attended event focused on practice management. As in previous years, we were able to generate a solid number of new leads for the O’Regan System, as well as speak with a number of trained physicians about their clinical results and how we can best support them moving forward. Several of these discussions also paved the way for some meaningful discussions surrounding CRH Anesthesia and the acquisition opportunities available.
The ACG Regional Midwest Course took place over a two day period towards the end of the month. This conference featured a “hands-on” session dedicated to hemorrhoid therapies where the CRH O’Regan System was the sole device used for demonstration purposes. These types of sessions are particularly beneficial for us, as attendance is voluntary (though typically full) and we are able to hold the physicians’ undivided attention while they’re participating. Due in part to that workshop, we were able to generate a good number of new leads in a region where we currently have a limited penetration
If you have any questions regarding news releases you see from CRH, or have anything would like to discuss directly, please don’t hesitate to contact me. Thank you for your continued support and we look forward to updating you again in a month’s time.
Director, Investor Relations
CRH Medical Corporation
T: 800.660.2153 x 1030