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WELL Health announced that it has re-branded CRH Medical Corporation as WELL Health USA. WELL Health USA s goal is to mirror WELL s mission of tech enabling.
WELL s CRH Medical Acquires Majority Stake in Two Anesthesia Practices
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CRH Medical Corporation ( CRH ), a wholly owned subsidiary of WELL Health, completes acquisitions of 51-per-cent stakes in both Northern Indiana Anesthesia Associates, LLC (
NIAA ) in Indiana, and an add-on practice for FDHS Anesthesia, LLC (
FDHS ) in Florida.
NIAA s current estimated annualized revenue run rate is approximately US$2.1 million, while FDHS s current estimated annualized revenue run rate is approximately US$1.2 million. Both companies combined revenue run rate of approximately US$3.3M has operating EBITDA margins of approximately 45%.
These two accretive acquisitions mark CRH Medical s 35th and 36th transactions respectively and increase CRH s footprint to a total 75 ambulatory surgical centers across the United States.
WELL s CRH Medical Announces Acquisition of New England Anesthesia Associates
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CRH Medical or CRH , a wholly owned subsidiary of WELL Health, completes the acquisition of an 85% stake in New England Anesthesia Associates LLC (
NEAA ).
NEAA s current estimated annualized revenue run-rate is approximately US$3.6 million with operating EBITDA
(1) margins equal to approximately 40% which is generally consistent with other similar acquisitions made by CRH.
This highly accretive acquisition marks CRH s fourth acquisition transaction so far in 2021 and represents the company s entry into Connecticut which increases its footprint to 16 states across the United States.
WELL Health Completes Acquisition of CRH Medical
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Monumental acquisition significantly boosts WELL s revenue and EBITDA
(1) profile, dramatically enhances its U.S. operations, and provides WELL with additional inorganic and organic growth opportunities.
WELL s technology and shared services teams will work with CRH to help digitize and modernize operations in a manner similar to how WELL has executed in the primary healthcare space in Canada.
CRH recently reported its audited Q4 2020 results with US$36.8M in quarterly revenue reflecting 21% YoY growth. CRH s adjusted operating EBITDA
(2) for the same period was $16.1M, demonstrating strong 44% adjusted operating EBITDA margin