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CRH Medical acquires 51% stake in Florida Panhandle Anesthesia Associates

CRH Medical Corp. acquired a 51% stake in Florida Panhandle Anesthesia Associates LLC, a gastroenterology anesthesia practice in Florida.

Florida Panhandle provides anesthesia services to a gastrointestinal ambulatory surgery center.

The transaction, which is CRH Medical's sixth acquisition in Florida, was financed through a combination of a credit facility and cash on hand. CRH Anesthesia President Jay Kreger said the company's transaction momentum is expected to continue in 2020.

CRH Medical said the deal is EBITDA and cash flow accretive. The transaction has an estimated annual revenue of US$2 million.

Vancouver, British Columbia-based CRH Medical provides various products and services to treat gastrointestinal diseases.