Centric Health Addresses Media Reports About Its False Creek Healthcare Centre

TORONTO, May 24, 2019 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), one of Canada's leading healthcare services companies, wishes to address potentially misleading media reports regarding its False Creek Healthcare Centre.

Centric Health Corporation (CNW Group/Centric Health Corporation)

In response to recent media stories, the Company wishes to confirm that it has no intention of ceasing any operations at its False Creek Healthcare Centre or closing the facility. False Creek Healthcare Centre is Vancouver's pre-eminent private surgical centre and it will continue to provide exceptional healthcare services to patients through its world-renowned physicians and medical staff.

As previously disclosed on multiple occasions, Centric Health is pursuing a more focused strategic direction with the aim to establish the Company as the leading provider of pharmacy and other healthcare services to Canadian seniors. As part of that process, Centric Health is contemplating the potential divestiture of assets that are non-core to this focus, which could include a sale of some or all of its surgical and medical centres. While the Company is not in a position to comment on the divestiture process, the Company's strategy is driven entirely by the pursuit of this new strategic direction and not in any way by the performance of a particular asset or the political climate in any specific province. Centric Health remains optimistic on the evolving political and judicial landscape in Canada and believes that continuing financial and demographic pressures on provincial governments will ensure that private healthcare plays a growing and more meaningful role in complementing the Canadian public healthcare system in the years to come.


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 31,000 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.


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, including statements around the continued operation of its False Creek Healthcare Centre and its divestiture strategy. 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