CRH Medical Corporation Acquires Majority Stake in Triad Sedation Associates to Advance GI Anesthesia Practice

On November 20, 2019, VCBeat (WeChat ID: vcbeat) learned that CRH Medical Corporation announced the completion of its majority acquisition of Triad Sedation Associates (TSA), acquiring a 51% equity stake to advance gastrointestinal (GI) anesthesia practices in Winston-Salem, North Carolina, USA. This value-added transaction became effective on November 1, 2019, with CRH funding the deal through its credit facility and existing cash reserves.

CRH initially held a minority stake in the business, while retaining exclusive rights for Digestive Health Specialists (DHS) to develop and manage Monitored Anesthesia Care (MAC) programs. TSA is the second MAC project completed by CRH. CRH announced the development of this project in October 2018 and retained the option to acquire a 51% equity interest in the new anesthesia business.

CRH was founded in 2000 and is headquartered in Vancouver, Canada. It is dedicated to providing gastroenterologists across the United States with innovative treatments and products for gastrointestinal diseases. Since 2008, the company has been training physicians throughout the U.S., granting them access to FDA-approved patented technologies to improve clinical outcomes for patients nationwide. Today, CRH’s solutions are used by more than 1,000 physician clinics, enabling tens of thousands of patients each year to achieve complete cures for hemorrhoids.

In 2014, CRH became a full-service gastrointestinal anesthesia company, providing anesthesia services to patients undergoing endoscopic procedures at ambulatory surgery centers. To date, CRH has completed 24 anesthesia acquisitions. CRH currently serves 57 ambulatory surgery centers across 11 U.S. states, performing approximately 365,000 procedures annually.

CRH’s CRH O’Regan System is a disposable hemorrhoid banding technology system that safely and effectively treats all types of hemorrhoids. CRH directly applies the O’Regan System, treatment protocols, and operational and marketing expertise to gastroenterology practices, establishing partnerships with gastroenterologists. The O’Regan System is currently in use across 48 states in the United States.

Dr. Tushar Ramani, CEO of CRH, stated, “We are pleased to announce our second transaction in North Carolina, which further demonstrates the trust that leading GI groups such as DHS place in CRH, while also enabling us to advance their business practices. We believe we will remain well-positioned for sustained growth through 2020.”

CRH Chairman Jay Kreger added, “Our MAC development program once again validates the inherent value of helping GI partners launch endoscopy anesthesia services in their practices, which also benefits patients. We are seeing growing interest in this program as it expands upon our existing acquisition strategy, and CRH’s operating platform provides support for high-level program execution.”

(Compiled by Jiang Ying)