Centric Health Announces Management Change

Apr 2, 2012
7:01am

TORONTO, April 2, 2012 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), Canada's leading diversified healthcare services company, today announced that Daniel Carriere will step down as President and Chief Executive Officer, effective April 30, 2012, to pursue other interests.  The Company will immediately commence a search for a suitable replacement.  Upon Mr. Carriere's departure, Dr. Jack Shevel, Executive Chairman of the Company, will assume the role of interim President and Chief Executive Officer until a replacement has been appointed.  Mr. Carriere will remain as a Non-Executive Director of the Company.

"On behalf of the Board of Directors, I would like to thank Dan for his contribution at an important time in our Company's evolution," said Dr. Jack Shevel, Executive Chairman, Centric Health Corporation.  "We look forward to Dan's valued participation as a Director of the Company.  His continued perspective on the Canadian Healthcare landscape will be invaluable as we focus on building Canada's premiere diversified health services company."

"I want to thank the Centric Board for their support in enabling me to be part of this exciting and emerging health care story," said Mr. Carriere.  "I have benefited from this new experience as CEO of Centric and have met tremendously talented and dedicated individuals who make up the Centric family.  I am excited about the new opportunity as a Non-Executive Director on the Centric Board as I will be able to continue supporting the great Centric vision for Canada."

Dr. Shevel added, "Over the past two years, we have made great strides in building a platform to leverage many exciting opportunities in the Canadian healthcare landscape. Through our acquisitions, we have added managerial strength throughout the organization and we continue to augment our capabilities through key strategic hires in the areas of operations, business development and senior management. We look forward to Centric's next phase of growth in partnership with healthcare professionals with the primary focus of providing exceptional patient care."

About Centric Health

Centric Health's vision is to be Canada's premier healthcare company, providing innovative solutions centered on patients and healthcare professionals. As a diversified healthcare company with investments in several niche service areas, Centric Health currently has operations in medical assessments, disability and rehabilitation management, physiotherapy and surgical centres, homecare, specialty pharmacy, wellness and prevention and home medical equipment. With knowledge and experience of healthcare delivery in international markets and extensive and trusted relationships with payers, physicians, and government agencies, Centric Health is pursuing expansion opportunities into other healthcare sectors to create value for all stakeholders through an unwavering commitment to the highest quality of care. Centric Health is listed on the TSX under the symbol CHH. For further information, please visit www.centrichealth.ca and www.lifemark.ca. Centric Health's strategic advisor is Global Healthcare Investments & Solutions ("GHIS") (www.ghis.us). GHIS and entities controlled by shareholders of GHIS are currently the largest shareholders of Centric Health.

This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation.  These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Centric Health and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Centric Health will derive there-from.

For further information:

Peter Walkey
Chief Financial Officer
Centric Health
416-619-9417
peter.walkey@centrichealth.ca

Lawrence Chamberlain
Investor Relations
TMX Equicom
416-815-0700 ext 257
lchamberlain@equicomgroup.com