February 2014

Dear shareholders and prospective shareholders,

Towards the end of February, Edward Wright and I marketed the CRH Medical story in Montreal and Toronto.

A highlight of the Montreal leg of the roadshow included a lunch at a prominent investment dealer with about a dozen of Montreal’s top investment advisors attending.

Marketing in Toronto was also very productive. We met with a number of new buyside and sellside accounts in the city and all expressed interest in the Company.


Improved Training for GI Practices

Until last year, CRH had a standard training program where an initial training session would take place at a GI’s practice, followed by a “refresher” session a few months after to address questions and help refine technique.

Recently however, we’ve introduced a “secondary” session in between. This added training takes place approximately three weeks after the initial session and allows a CRH clinical specialist to be present when the patients return for their second banding appointment (a typical patient requires three treatments).

Since the program has been in place, we’ve found the added support has been successful in reinforcing our clinical message and ensuring new physicians are completely comfortable with the procedure. If they are more at ease with the procedure, they will be more likely to continue performing the procedure on their own.


Continuing Education

CRH is dedicated to continuing to educate gastroenterologists on hemorrhoids, our procedure, and general anorectal care. In February, we released a new series of short tutorial videos that provide tips on how to ensure the best possible outcomes when treating patients with the O’Regan System. Those videos can be found on our physician centric website here: http://physicians.crhsystem.com/practice-support/videos/#8

We also spent some time putting together webinars for physicians. This was our first attempt at hosting a webinar for prospective physicians and we were very pleased with the outcomes. With over 30 physicians registering, we were able to generate a number of new leads.

Later in the day, we were also able to host our second webinar for already trained physicians, with our Medical Director taking the time to discuss some frequently asked questions about caring for patients with hemorrhoids, and then opening up the “floor” for questions. It was very well received and we will continue to host these on a regular basis.


Spring Disclosure

In March, we will be issuing our audited fourth quarter and fiscal 2013 financial and operational results. We are targeting mid to late April to disclose our first quarter 2014 results.

It’s CRH’s policy not to issue guidance on our results and we follow best practices in terms of disclosing material news, so you’ll have to wait a few weeks to find out what they were. However, we can tell you that we are optimistic about our long-term growth prospects. We are training more GI practices every quarter on the O’Regan System and our conversion rate of trained practices to paying customers is typically high.

We look forward to sharing the March edition of the CRH Investor Bulletin with you, and as always, we appreciate your interest and support.


Adam Peeler

Media and Investor Relations

TMX Equicom

416.815.0700 x 225


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