Vancouver BC, Sept 24, 2009– CRH Medical Corporation (CRM:TSX-V) announced today that Dr. Bergein F. “Gene” Overholt, one of North America’s most distinguished gastroenterologists, has joined its Board of Directors.
Dr. Overholt designed the flexible fiberoptic sigmoidoscope, which subsequently led to development of colonoscopy. His work in outpatient endoscopy led to the development of the first licensed and certified endoscopic ambulatory surgery center in the U.S. He is a former President of both the American Society for Gastrointestinal Endoscopy and the American Society of Outpatient Surgeons.
While maintaining a full clinical practice, Dr. Overholt has participated in the development of new endoscopic treatments and technologies. Dr. Overholt has published more than 100 articles and lectured extensively on gastroenterology. He currently serves as Medical Director of Corp (NASDAQ: AMSG) and as President of Gastrointestinal Associates in Knoxville, Tennessee.
“We are honored by Dr. Overholt’s support of our efforts to introduce our technology to gastroenterologists throughout the United Sates, allowing them to treat their patients suffering from hemorrhoids. His advice will be invaluable as CRH continues to introduce its CRH O’Regan SystemTM to the profession,” stated Chief Executive Officer Edward Wright.
“Having such a renowned clinician and researcher join our Board shows the impact of CRH’s Partnership Program on gastroenterologists in the United States and the potential our technology and methodologies can bring to these practices,” Wright added.
Commenting on his appointment, Dr. Overholt said, “It is a true honor to serve as a member of the CRH Board of Directors and to participate in shaping the growth of a vibrant company. I look forward to the opportunity.” Added Overholt, One of my goals will be to encourage wide spread use of the CRH O’Regan SystemTM as it represents a significant opportunity for all gastroenterologists to improve patient care, satisfaction and quality of life while broadening their practices.”
In conjunction with Dr. Overholt’s appointment to its Board of Directors the Company has issued Dr. Overholt an option to purchase up to 100,000 common shares in the Company exercisable at a price of CDN$1.65 for a period of 5 years pursuant to its Stock Option Plan.
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’s expectations and plans relating to its expansion plans for its Centers for Colorectal Health, statements about CRH Medical’s 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’s current expectations and are subject to risks and uncertainties and to assumptions made. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include: (i) changes in the economy may affect the Company’s business; (ii) the Company’s ability to successfully recruit and retain sufficient qualified physicians and other licensed providers; (iii) our limited available working capital and cash flows and our ability to raise additional capital as and when needed (iv) the Company’s ability to manufacture its products; (v) the policies of health insurance carriers in the United States may affect the amount of revenue the Company receives; (vi) the Company’s ability to successfully market its products; (vii) market acceptance of its technologies and products; (viii) the competitive environment and impact of technological change; (ix) changes in United States federal or state laws, rules, and regulations, including but not limited to those governing the corporate practice of medicine, fee splitting, Anti-Kickback Statute and Stark Law; (x) ability to effectively manage growth and retain senior management personnel; and (xi) product liability and medical malpractice claims, which may adversely affect our operations. CRH Medical bases its forward-looking statements on information currently available to it, and assumes no obligation to update them.
For further information call Dean Linden, Corporate Communications, CRH Medical Corporation at 604.633.1440 or firstname.lastname@example.org. Additional information may also be found by visiting the Company’s website at www.crhmedcorp.com or the SEDAR website at www.sedar.com.
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