Investor Contact: Dean Linden 604.633.1440
VANCOUVER, BC, March 4, 2009 ‘ CRH Medical Corporation (CRM:TSX-V) announced today that it has taken significant steps toward being cash flow positive in 2009.
The steps include negotiating an adjustment to physician compensation. The compensation for the physicians in the Centers will be a variable cost to the company and will be more in line with the number of patients the doctor sees.’ This will allow the Company to limit its expenses and to operate its center model with increased efficiency.
The Company announced the closure of three poorly performing Centers. The Centers include Miami Beach, FL, New Orleans, LA and Bayshore, NY
The remaining 14 Centers for Colorectal Health throughout the US will continue to serve the hemorrhoid sufferers in their respective markets. Additionally these Centers will serve as regional training centers.’ The Company is experiencing a significant demand for its technology and treatment protocol from doctors seeking to treat hemorrhoids in their own practices. Utilizing the Centers for Colorectal Health as training sites will significantly increase the Company’s capacity to train physicians.
About CRH Medical Corporation:
CRH Medical Corporation specializes in the treatment of hemorrhoids utilizing its proven treatment protocol and patented proprietary technology. CRH’s single use, disposable, hemorrhoid technology is safe and highly effective in treating hemorrhoid grades I ‘ IV. CRH Medical employs two commercialization strategies: First, it operates Centers for Colorectal Health facilities in the United States specializing in the treatment of hemorrhoids and fissures, and colon cancer screening. In addition CRH distributes its hemorrhoid banding technology, treatment protocols, operational and marketing expertise as a complete, “turn key” package directly to its partner physicians. The Company’s goal is to establish the CRH hemorrhoid technology as the standard for hemorrhoid treatment.
The information in this news release contains so-called ‘forward-looking’ statements. These include statements regarding CRH Medical expectations, beliefs, intentions or strategies for the future, which may be indicated by words or phrases such as ‘anticipate’, ‘expect’, ‘intend’, ‘plan’, ‘will’, ‘we believe’, ‘CRH Medical believes’, ‘management believes’ and similar language. All forward-looking statements are based on CRH Medical current expectations and are subject to risks and uncertainties and to assumptions made.
For further information call Dean Linden, Corporate Communications, CRH Medical Corporation at 604.633.1440 or ir@crhmedcorp.com. Additional information may also be found by visiting the Company’s website at www.crhmedcorp.com or the SEDAR website at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.