TORONTO, Nov. 26, 2018 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), one of Canada's leading healthcare services companies, is pleased to announce that the Supreme Court of British Columbia has ruled in favour of the private medical clinics in the Province and granted an injunction preventing the Medical Services Commission from enforcing certain provisions of the Medicare Protection Act (the "Act") that were originally scheduled to come into force on October 1, 2018.
The injunction suspends certain provisions of the Act that would have fined doctors and private clinics for charging patients for medically necessary services until their constitutional validity is established at the ongoing Cambie Surgery Centre trial. In reaching its decision, the Court found a sufficient link between increased waiting times for privately-paid medically necessary services and the harm that would be caused to some patients if the amendments to the Act were brought into force immediately.
"We are very pleased with the Court's decision, which is in the best interests of British Columbia residents and acknowledges the important role that private clinics play in providing medical services in the Province," said David Murphy, President and Chief Executive Officer of Centric Health. "The injunction win ensures that False Creek Healthcare Centre can operate under the status quo for the foreseeable future and continue to deliver the exceptional and timely care that our patients have come to expect."
About Centric Health
Centric Health's vision is to be the leading independent provider of pharmacy and other healthcare services to Canadian seniors. The Company aspires to be world renowned for delivering the highest levels of quality care and outcomes, innovative solutions and value to seniors, patients, clients and stakeholders. Centric Health has two main operating segments, its Specialty Pharmacy division and its Surgical and Medical Centres division.
The Specialty Pharmacy division is a "Seniors 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 475 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 and 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. www.centrichealth.ca
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, including about the future operations of False Creek Healthcare Centre. 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.
SOURCE Centric Health Corporation
For further information: David Murphy, President and Chief Executive Officer, Centric Health Corporation, 416-927-8400