TORONTO, Aug. 17, 2011 /CNW/ - With reference to the press release dated May 19, 2011, Centric Health Corporation ("Centric Health") (TSX: CHH), Canada's leading diversified healthcare company, today announced that all of the required closing conditions have been satisfied, and it has completed the acquisition of substantially all of the assets of Blue Water Surgical Centre Ltd., Blue Water Rejuvenation Institute Inc., Blue Water Diagnostics Ltd., and Windsor Endoscopy Centre Ltd., along with 75% of the issued and outstanding securities of the London Scoping Centre Ltd. on terms as previously disclosed.

"The acquisition of these centres allows us to gain a significant presence in South Western Ontario, providing cosmetic, endoscopic, bariatric and other surgical treatments with a commitment to patient satisfaction and quality care," said Daniel Carriere, Chief Executive Officer of Centric Health.  "The Blue Water Group is an excellent addition to the Centric Health national network of Surgical Centres, expanding our range of surgical services in partnership with doctors and staff."  The Blue Water acquisition will add three Surgical Centres, 12 procedure rooms and 18 beds to the Centric network.  Centric will now have seven Surgical Centres across Canada with a total of 25 procedure rooms and 104 beds.

"We look forward to being part of the Centric Health family, and share the core values and philosophies related to patient care and outcomes," said Dr. Sanjeev Kaila, Founder and Director of the Blue Water Surgical & Medical Centres.  In addition to overseeing Blue Water, Dr. Sanjeev Kaila will support the development and expansion of Centric Health's Surgical Centre business into new markets.

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, surgical and medical centres, homecare, home medical equipment, specialty pharmacy and wellness and prevention. 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 with 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 / www.lifemark.ca / www.medichair.com. Centric Health's strategic advisor is Global Healthcare Investments & Solutions, Inc. ("GHIS") (www.ghis.us). GHIS and entities controlled by shareholders of GHIS are currently the largest shareholders of Centric Health.

About Blue Water Surgical & Medical Centres and London Scoping Centre

The Blue Water Surgical & Medical Centres operate state-of-the-art facilities which offer a variety of cosmetic, bariatric and endoscopy services covering South Western Ontario. The facilities together have twelve dedicated procedure rooms at which over 5,200 procedures were performed in 2010.   Cosmetic and bariatric procedures are performed in the Blue Water Surgical Centre located in Sarnia, Ontario which has a fully accredited operating room certified by the CAAASF (Canadian Association of Accreditation of Ambulatory Surgical Facilities). An expansion program with an additional operating room is planned at Blue Water Surgical Centre for the future. Endoscopy procedures are performed in The Sarnia Diagnostics, Windsor Diagnostics and London Scoping facility. Dr. Sanjeev Kaila is a recognized leader in plastic and reconstructive surgery as well as bariatric procedures such as gastric banding and the intragastric balloon.  Dr Kaila has expanded the Blue Water Surgical Centre from a single-site, single-specialty, single-doctor practice to the largest clinic of this type in South Western Ontario.  For further information, please visit www.bluewatersurgery.com and www.londonscoping.com

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 completion of the transaction referred to herein, 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.