CRH Medical Corporation Announces Customer Update
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CRH Medical Corporation (
CRH , or the Company ) (TSX: CRH) (NYSE MKT: CRHM) announces that it has received notice today that its largest customer, United Digestive ( UD ), does not intend to renew its professional services agreements pursuant to which CRH provides anesthesia services to 12 of UD s surgery centers in the Greater Atlanta Georgia market. UD represents a significant portion of CRH s revenue, and is expected to represent approximately 20% of adjusted operating shareholder EBITDA ( EBITDA ) in 2021. The current professional services agreements are scheduled to expire on October 31, 2021, meaning that the non-renewal will become effective sometime thereafter, such that the effect on CRH s financial results will be seen beginning in 2022.