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Centric Health Corporation Completes Sale of Surgical and Medical Centres Division
Centric Health Corporation Completes Sale of Surgical and Medical Centres Division ...
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[{"type":"text","content":"\n\n\n\nCentric Health Corporation Completes Sale of Surgical and Medical Centres Division\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, Nov. 26, 2019\n\n\n\nTORONTO, Nov. 26, 2019 /CNW/ - Centric Health Corporation (\"Centric Health\" or the \"Company\") (TSX: CHH) today announced that it has closed the previously announced sale of its Surgical and Medical Centres business to Clearpoint Health Network Inc. for gross proceeds of $35,000,000. The proceeds of the sale will be used to repay a portion of the Company's outstanding credit facilities and for working capital purposes.  \n\n \n \n\n \n\"We are pleased to close this transaction, which was a key pillar of our strategic transformation,\" said David Murphy, President and Chief Executive Officer of Centric Health. \"By further strengthening our balance sheet, we are now better positioned to pursue additional growth opportunities in the seniors pharmacy space. We want to thank all our employees and healthcare professionals for their commitment to the Surgical business over the past several years, and we wish Clearpoint all the best moving forward.\"   \nABOUT CENTRIC HEALTH \nCentric Health's vision is to be the leading provider of pharmacy and other healthcare services to Canadian seniors. Centric Health is one of Canada's leading, and most trusted providers of comprehensive Specialty Pharmacy services and solutions to seniors. Centric Health operates a large national network of pharmacy fulfilment centres that deliver high-volume solutions for the cost-effective supply of chronic medication and other specialty clinical pharmacy services, serving more than 31,000 residents in over 460 seniors communities (long-term care, retirement homes, and assisted living facilities) nationally.\nWith services that address the growing demand within the Canadian healthcare system, Centric Health's unparalleled national care delivery platform provides significant potential for future expansion and growth.\nFORWARD-LOOKING STATEMENTS\nThis press release contains statements that may con...