VANCOUVER, B.C. – April 9, 2019 – CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) (“CRH” or the “Company”), today announced the appointment of Dr. Tushar Ramani as CEO of the Company, replacing outgoing CEO Edward Wright. Dr. Ramani, a 30 year veteran of the anesthesia industry, will also join the Company’s board as a director, in place of Mr. Wright.
“We would like first to thank Edward Wright for his long service and for leading the transformation of the Company into the gastrointestinal anesthesia business” commented Dr. Anthony Holler, Chairman of the Board of the Company. “While we have enjoyed tremendous growth, the Board of Directors believes it is time to take the next step in our development and we believe Tushar is the perfect executive to lead us. Tushar brings extensive experience in both managing and providing healthcare services, growing companies and creating shareholder value.”
Dr. Ramani was a co-founder and president of Anesthetix Management, LLC, a national provider of comprehensive anesthesiology and pain management solutions to hospitals and surgery centers, which was acquired by TeamHealth Holdings, Inc., a physician services organization listed on the NYSE at that time. Dr. Ramani remained as President of TeamHealth’s Anesthesia Division, growing it to over $300 million in revenue. More recently, Dr. Ramani joined Summit Partners’ Executive-in-Residence program, working with Summit’s Healthcare & Life Sciences team to identify new investment opportunities within growth-stage healthcare companies, as well as to evaluate prospects of current investments. In connection with that appointment, he was named CEO of portfolio company, MedOptions, Inc., the nation’s largest behavioral health services provider to post-acute care facilities.
In addition to Anesthetix, Dr. Ramani, a former practicing anesthesiologist and interventional pain management specialist, also co-developed several other companies providing anesthesia-related services, including a full-service healthcare staffing firm and an anesthesia revenue cycle managementcompany. He attended Jefferson Medical College in Philadelphia, interned at Morristown Memorial Hospital, and completed residency in Anesthesiology and Interventional Pain Management at Mount Sinai Medical School, New York.
Dr. Ramani commented: “As a physician myself and as a veteran executive of the healthcare services industry, I have long been aware of and admired CRH’s unique position in the marketplace. As a supplier of critical and valuable services to gastroenterologists and their patients, CRH is well positioned to rapidly grow its footprint in its core services, expand its offerings, and be an even more useful partner to its customers. I am excited to take the helm at this important point in the company’s development, and look forward to working with the top-flight team in place and exploring the opportunities in front of us.”
Dr. Ramani will be based in the United States, reflecting the geographic concentration of the Company’s current operations. Mr. Wright has agreed to assist as necessary to ensure an orderly transition.
About CRH Medical Corporation
CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. In 2014, CRH became a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. To date, CRH has completed 21 anesthesia acquisitions. CRH now serves 47 ambulatory surgical centers in eleven states and performs approximately 320,000 procedures annually. In addition, CRH owns the CRH O’Regan System, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. CRH’s O’Regan System is currently used in all 48 lower US states.
Richard Bear, Chief Financial Officer
CRH Medical Corporation
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