May 2014

Dear shareholders and prospective shareholders,

We believe that the O’Regan System is increasingly being recognized as the gold standard in hemorrhoid treatment due to the system’s safety profile and effectiveness. In addition, our successful sales and marketing platform is helping us build a growing and loyal client base of gastroenterologists (GIs) who are using our technology.

Going forward, our revenue growth will be based on two factors:
1. Our ability to increase customer usage of the O’Regan System
2. Investing in initiatives or products that complement the O’Regan System and leverage our distribution model We are delivering consistently on the first objective as our quarterly financial results indicate.

We are highly focused on the second objective right now and we’ll update the Street as material progress occurs.

Gastroenterology Conferences

CRH attended two conferences this month. The first was Digestive Diseases Week (DDW), one of two national and international GI conferences held each year. The American Society for Gastrointestinal Endoscopy hosts DDW. This year, it was held in Chicago. In addition to having a presence in the exhibit hall, the CRH O’Regan System was featured in a sold out, hands-on course entitled Hemorrhoid Therapies.

These types of courses are becoming more common and help spread the message that the O’Regan System is a procedure all GI practices should consider offering. As always, we were able to generate a solid number of leads and speak with a several trained physicians already using our technology.

For the first time, CRH attended the Society of Gastroenterology Nurses and Associates meeting in Nashville. This national meeting brings together GI nursing staff from across the country. As nurses and nurse managers often have a strong influence on the physicians they work with, we thought it was important for CRH to attend the conference. The response we received was very positive, and it is likely a conference that we’ll be attending next year.

Bloom Burton & Co. Healthcare Investor Conference

Looking ahead, we plan on being in Toronto in June for two days of investor meetings. This should be a great roadshow, with CRH Medical’s chairman Tony Holler planning on joining us. Tony typically contributes significant capital markets insight during investor meetings and his energy level tends to resonate with meeting participants.

On the 17th, we’ll be marketing CRH to a number of Bay Street buy and sell-side accounts.

On the 18th, we’ll be presenting the CRH Medical story at the Bloom Burton & Co. Healthcare Investor Conference. Edward Wright is scheduled to deliver a 30 minute, formal company presentation at the conference at 11 am EDT. We’ll be doing investor meetings before and after his presentation with a number of high quality, healthcare-focused funds.
We look forward to sharing the June 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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