Dear shareholders and prospective shareholders,
On the morning of September 3rd, 2015 CRH Medical Corporation rang the opening bell of the New York Stock Exchange. Members of the CRH team and close associates were invited up to the podium to mark the occasion, representing an important milestone for the company as we also commenced trading on the NYSE MKT that morning. We look forward to increased capital markets awareness, as this listing provides a platform to expand our marketing efforts in the US.
Majority purchase of Knoxville Gastroenterology Anesthesia Associates
In addition to our 100% purchase of the anesthesia business of ADH last month, on September 10th we were pleased to announce our first anesthesia joint venture with the majority purchase of KGAA in Knoxville, Tennessee. The underlying physician sellers remain our 49% partner in the business, and the structure is one that is mutually beneficial for both sides. An important takeaway from the transaction is that the associated physician practices have been users of the CRH O’Regan System for several years. Our ability to source and close this transaction can be directly attributable to the meaningful, long-term relationships we have built through the CRH O’Regan System. We are now providing anesthesia services to roughly 100,000 endoscopic procedures a year.
Edward Wright, our CEO, Richard Bear, CFO, and myself, spent several days this month marketing in Vancouver, Toronto, New York, and Montreal. It was a very productive combination of introductory meetings with institutions and investors who were new to the CRH story, and update meetings with current and prospective holders familiar with our company. In addition to roadshow-style marketing, we continue to be active with introductory and update phone calls when logistics prevent face-to-face meetings.
September kicked off the fall conference season, with CRH attending three meetings over the past couple of weeks (with more to come in October).
The Texas Society for Gastroenterology and Endoscopy’s program is always a well-attended event and this year was no exception. Though it is only a one day affair, we were able to speak with a solid number of existing O’Regan System customers in order to provide both clinical and operational support, as well introduce them to CRH Anesthesia and the various opportunities we have available.
That same weekend, we also attended the Pennsylvania Society for Gastroenterology’s meeting in Lancaster, PA– a first for CRH. The meeting afforded us the opportunity to speak with a number of new leads who showed interest in introducing the banding into their practice, as well as have some meaningful conversations with our trained physicians in attendance.
Finally, Endofest, which is an annual meeting put on by the American Society for Gastrointestinal Endoscopy, took place in Chicago, IL. This meeting had the CRH O’Regan System featured during the hemorrhoid therapy “hands-on” session. These types of sessions are becoming more and more frequent and really allow prospective physician to get a full understanding of our technology, techniques, and protocols. During the exhibit hours, we created additional awareness for our anesthesia offering while peaking the interest levels with a number of our current O’Regan partners.
If you have any questions, or would simply like an update on what we are doing, please don’t 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.