Vancouver, Canada-based CRH Medical Corp. acquired Chagrin Falls, Ohio-based Lake Erie Sedation Associates, a gastroenterology anesthesia practice.
Here are three insights:
1. CRH Medical acquired the entire practice in an accretive transaction financed through CRH's credit facility and cash on hand.
2. Lake Erie provides anesthesia services to two GI ASCs. The practice's estimated annual revenue is $2.1 million.
3. This is CRH's fourth anesthesia acquisition this year and its second in Ohio, according to CRH CEO Edward Wright.