Centric Health Announces Appointment of Independent Director

Mar 30, 2017

TORONTO, March 30, 2017 /CNW/ - Centric Health Corporation ("Centric Health" or the "Company") (TSX:CHH) Canada's leading diversified healthcare services company, announced today that Kevin Dalton will be appointed as an additional independent member of the board of directors of the Company, effective March 30, 2017. Mr. Dalton will participate on the Audit, Human Resources and Compensation, Nominating and Corporate Governance committees.

"We are very pleased to welcome Mr. Dalton as an additional independent director to the board of Centric Health following his recommendation by the Nominating and Corporate Governance Committee," said Dr. Jack Shevel, Chairman, Centric Health. "With the healthcare industry poised for consolidation and strategic alliances, and new technological interventions, Mr. Dalton's impressive track record in senior leadership in Canada, primarily in the capital markets, investment banking  and technology sectors, together with his solution oriented strategic thinking and team focused approach, will add considerable value to our board. Mr. Dalton's strategic appointment represents another meaningful step for the growth and innovation of Centric Health towards generating sustainable stakeholder value, and, most importantly, continuing to be the leader with the highest standards of care and outcomes."

Mr. Dalton is currently the Chairman of MOOD Media Corporation, a member of the Advisory Board for Lynx Equity and a member of the Independent Review Committee for First National Mortgage Fund. Mr. Dalton has over 20 years of capital markets and investment banking experience including having held the position of Vice Chairman, Head of Investment Banking at Desjardins Securities, the brokerage arm of Desjardins Group, the biggest financial institution in Quebec and the largest cooperative financial group in Canada. Prior to joining Desjardins, Mr. Dalton worked at Blackmont Capital, a full-service investment dealer, first serving as Managing Director, Head of Investment Banking and then moving onto the role of President. Mr. Dalton spent 14 years in the investment banking division of CIBC Capital Markets, where he specialized in the technology, media and telecommunications sectors, and served as Managing Director, Head of Canadian Diversified Investment Banking. He began his career at The Hathaway Corporation, a Toronto-based consulting firm that provides clients with expert financial advice on a variety of disciplines, including valuations, fairness opinions and mergers and acquisitions. Mr. Dalton holds a Bachelor of Arts in Honors Business Administration from the University of Western Ontario.

About Centric Health

Centric Health's vision is to be Canada's most respected and recognized provider in the independent healthcare sectors in which it operates, world renowned for delivering the highest levels of quality care and outcomes, innovative solutions and value to patients, clients and stakeholders. To this end, Centric Health primarily focuses on two core healthcare businesses:

  • The Specialty Pharmacy division is a "Patient 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 29,000 residents in over 425 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 & Medical Centres division is Canada's largest independent surgical provider operating five facilities across four provinces. It serves a diversified customer base with private paid non-insured surgeries and diagnostics, government outsourcing of insured surgeries and diagnostics and other procedures funded by third-party payors (including Workers Compensation) and is the proud owner of Canada's first Centre of Excellence in Metabolic and Bariatric Surgery.

With national networks of facilities in each of its businesses, deep knowledge and experience of healthcare delivery and extensive, trusted relationships with payers, physicians, and government agencies, the Company is uniquely positioned to address current and future healthcare needs in growing markets as the Canadian healthcare industry goes through a major transformation over the medium to long term.

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, strategies, alternatives, 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 therefrom.

SOURCE Centric Health Corporation

For further information: David Cutler, President and Chief Executive Officer, Centric Health Corporation, 416-619-9401, david.cutler@centrichealth.ca; Leslie Cho, Chief Financial Officer, Centric Health Corporation, 416-619-9488, leslie.cho@centrichealth.ca