Dear shareholders and prospective shareholders,
On July 28th, we reported our second quarter financial results for 2016. If you haven’t read our press release, or listened to our supporting conference call, we disclosed the following information:
- Revenues for the three months ended June 30, 2016 were $16,587,541 compared to $10,881,424 for the three months ended June 30, 2015. The increase in revenues is mainly attributable to revenue contributions from the anesthesia service providers acquired in 2015 in conjunction with additional revenues in the month of June from the Company’s newly acquired anesthesia services providers.
- Revenues from anesthesia services for the three months ended June 30, 2016 were $13,930,346 compared to $8,513,842 for the three months ended June 30, 2015
- Revenues from product sales for the three months ended June 30, 2016 were $2,657,195 compared to $2,367,582 for the three months ended June 30, 2015. The increase in product sales is the result of the continuing successful execution of the Company’s direct to physician program that provides physicians the ability to purchase our hemorrhoid banding technology, treatment protocols, marketing and operational experience.
- As of June 30, 2016 the Company has trained 2,290 physicians to use the O’Regan System, representing 870 clinical practices. This compares to 2,066 physicians trained, representing 767 clinical practices, as of June 30, 2015.
- Operating EBITDA attributable to shareholders of the Company for the three months ended June 30, 2016 was $7,053,675, compared to $5,775,478 for the three months ended June 30, 2015.
If you missed it, and wish to listen to our second quarter conference call, an audio replay will be available by calling 1-855-859-2056 or (404) 537-3406 and using passcode 54626461. The phone replay will be available until August 11, 2016.
CRH Hires President of Anesthesia Business
In early July, we announced Jay Kreger as the President of CRH Anesthesia. Mr. Kreger will be responsible for leading significant expansion opportunities for CRH anesthesia and ensuring operational excellence across the country.
Mr. Kreger has been working in the US healthcare sector since 2005. He was most recently Vice President of Development for the ASC division of Hospital Corporation of America (HCA). His experience in helping to grow a network of over 130 ambulatory surgical centers at HCA will help CRH further develop business opportunities while ensuring our current customers receive the highest level of service possible.
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