Centric Health Corporation announces the appointment of Ewing Morris & Co. Investment Partners Ltd. co-founder John Ewing to its Board of Directors

Mar 27, 2019
7:07pm

TORONTO, March 27, 2019 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX:CHH), one of Canada's leading healthcare services companies, announced today that John Ewing has been appointed as an additional independent member of the board of directors of the Company.

Mr. Ewing is the co-founder and Chief Investment Officer of Ewing Morris & Co. Investment Partners Ltd. ("Ewing Morris"), an independent, value-driven Canadian investment firm established in 2011.  Mr. Ewing has 12 years of experience as an investment professional and holds a Bachelor of Science (Engineering) degree from the University of Guelph.

Ewing Morris is an active and engaged investor with considerable experience working with investee companies at the Board level.  Ewing Morris' engagement mandates have included Medworxx Solutions Inc., ZCL Composites Inc. and AlarmForce Industries Inc., amongst others.  The firm favors a collaborative approach in the pursuit of maximizing long-term value for all investors.    

"After many months of due diligence our firm recently invested in Centric Health," said Mr. Ewing. "We have been very encouraged by the progress made by Chairman Kevin Dalton and CEO David Murphy in improving the company's balance sheet and stabilizing the core operations.  We believe these efforts, along with further initiatives in process, have put the company in a position whereby it can begin to expand off of its fundamentally strong base business.  I am excited to be a part of this next chapter at Centric and look forward to working with the rest of the Board and management."    

"We are pleased to welcome John Ewing as a new independent director to the Centric Health Board of Directors," said Kevin Dalton, Chairman of Centric Health. "Mr. Ewing has a proven track record of success and his expertise and strategic insight will make him a valuable addition to not just the Board but Centric Health as a whole."

About Centric Health

Centric Health's vision is to be the leading provider of pharmacy and other healthcare services to Canadian seniors. The Company is one of Canada's leading, and most trusted providers of comprehensive Specialty Pharmacy services and solutions to seniors. We operate 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 30,000 residents in over 450 seniors communities (long-term care, retirement homes, and assisted living facilities) nationally.

With 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.

About Ewing Morris

Ewing Morris is an independent, value-driven Canadian investment firm established in 2011. The team consists of six investment professionals with over 75 years of collective experience investing in smaller cap North American companies with an emphasis on non-resource Canadian small cap. The firm manages approximately $350 million on behalf of individual and institutional investors.

Forward-Looking Statements

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 the Company's business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate" or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management.

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include the Company's liquidity and capital requirements, government regulation and funding, the highly competitive nature of the Company's industry, reliance on contracts with key customers and other risk factors described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.

SOURCE Centric Health Corporation

For further information: David Murphy, President and Chief Executive Officer, Centric Health Corporation, 416-927-8400; Andrew Mok, Interim Chief Financial Officer, Centric Health Corporation, 416-927-8400