Dear shareholders and prospective shareholders,
Last week on February 25th we reported our year-end and fourth quarter financial results, below is a summary of our results.
During the fourth quarter we closed another meaningful joint-venture transaction and secured a credit facility with Scotiabank that allowed the Company to retire some existing high cost debt and provide the company with additional acquisition funding. You can find the full year-end report on the Financial Information section of the CRH website HERE.
• Total revenues for the year ended December 31, 2015 were $46,048,480 compared to $11,984,170 for the year ended December 31, 2015. Revenues for the three months ended December 31, 2015 were $13,937,531 compared to $5,746,388 for the three months ended December 31, 2014.
• Total operating EBITDA attributable to shareholders for the year was $23,424,346, compared to $4,696,094 for 2014. Operating EBITDA attributable to shareholders for the three months ended December 31, 2015 was $6,797,393, compared to $2,699,948 from the three months ended December 31, 2014.
• Revenues from anesthesia services were $36,496,035 during the year. Revenues for the three months ending December 31, 2015 were $11,329,699. During the fourth quarter, the anesthesia services segment serviced 24,924 patient cases, and serviced 71,447 patient cases in the full year
• Revenues from product sales for the year were $9,552,445 compared to $8,598,097 for the full year 2014. Revenues from product sales for the three months ended December 31, 2015 were $2,607,832, an increase of 10% over the prior year comparable period.
• As of December 31, 2015 the Company had trained 2,175 physicians to use the CRH O’Regan System, representing 811 clinical practices, which compares to 1,916 physicians trained, representing 701 clinical practices, as of December 31, 2014.
Last weekend, CRH attended the North Carolina Society for Gastroenterology’s Annual Conference held in Pinehurst, NC. It was our first year exhibiting at this regional conference which in draws gastroenterologists from across the state. Though smaller in scale than some of the other meetings we attend, it was well worth the time. We were able to introduce both the CRH O’Regan System and CRH Anesthesia to a number of new physicians we hadn’t yet spoken with, as well as continue to build relationships with many of our current partners. We look forward to a full conference schedule in March as we continue to create awareness and interest for both of our businesses.
As always, if you have any questions, or would simply like an update on what we are doing, please do not hesitate to contact me either by phone or email. 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