Centric Health Closes Sale of Medicine Hat Retail Pharmacy

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[{"type":"text","content":"\n\n\n\nCentric Health Closes Sale of Medicine Hat Retail Pharmacy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 14, 2019\n\n\n\nTORONTO, Feb. 14, 2019 /CNW/ - Centric Health Corporation (\"Centric Health\" or \"the Company\") (TSX: CHH), one of Canada's leading healthcare services companies, announced today that it has closed the previously announced divestiture of its retail pharmacy location in Medicine Hat, Alberta. \nThe total purchase price for the sale was $2.33 million, subject to certain post-closing adjustments. The Company intends to utilize the net proceeds from the sale primarily for working capital purposes. Scotia Capital acted as the Company's financial advisor on the sale. \nDue to an unforeseen delay in the proposed sale of the Company's second retail pharmacy in Grande Prairie, Alberta, the Company will not be completing the sale of that pharmacy at this time. \nAbout Centric Health\nCentric Health's vision is to be the leading independent provider of pharmacy and other healthcare services to Canadian seniors.  The Company aspires to be world renowned for delivering the highest levels of quality care and outcomes, innovative solutions and value to seniors, patients, clients and stakeholders. Centric Health has two main operating segments, its Specialty Pharmacy division and its Surgical and Medical Centres division.\nThe Specialty Pharmacy division is a \"Seniors First\" model composed of a growing national network of fulfilment centres that deliver high-volume solutions for the cost effective supply of chronic medication and other specialty clinical care services, serving more than 30,000 residents in over 450 seniors communities (long term care facilities, retirement homes and assisted living facilities) nationally. The Specialty Pharmacy division also provides pharmaceutical dispensing services for employees insured by corporate health plans.The Surgical and Medical Centres division is Canada's largest independent surgical provider operating five facilities across four provinces. It serves a diversified c...

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