Centric Health Corporation announces executive changes

TORONTO, Sept. 17 /CNW/ - Centric Health Corporation (TSX: CHH), a diversified healthcare investment company which recently migrated to the main Board of the TSX, today announced that Dr. Jack Shevel, President of Global Healthcare Investments & Solutions ("GHIS") and director of Centric Health, will take on the role of interim President and Chief Executive Officer ("CEO"). Dr. Shevel has agreed to this role as part of GHIS's advisory agreement at no additional compensation while the Company conducts a search for a permanent President and CEO. Brenda Rasmussen, the Founder and former CEO, will assume the role of Senior Advisor Business Development. Dr. Shevel has over twenty years of strategic operations and investment experience in healthcare services across the World and has been involved with Centric Health and the Canadian healthcare landscape for more than three years.

"Since its inception, under the leadership of Brenda Rasmussen, Centric Health has achieved formidable success in becoming one of Canada's leading healthcare service providers. The recent appointments, changes and corporate developments are part of our process to strengthen the Company's platform and management team for the next phase of growth," said Dr. Jack Shevel. "Our objective is to become one of Canada's premier healthcare companies centered around our patients and healthcare professionals with an unwavering commitment to the highest standards of quality patient care."

Dr. Shevel has significant healthcare expertise having been the Founder and former CEO of Netcare Limited, one of the World's largest diversified healthcare services companies with, inter alia, hospitals, primary care centres, diagnostics services and ancillary healthcare businesses in South Africa and the United Kingdom. Prior to founding Netcare, Dr. Shevel practiced as a medical practitioner for nine years before becoming involved in healthcare management and business turnarounds in 1989. His reputation as an innovative, solution orientated entrepreneur is internationally recognized for leadership with a distinctive focus on partnerships with medical professionals and patient centricity.

About Centric Health

Centric Health's current key divisions include Medical Assessments, Disability & Rehabilitation Management, Physiotherapy and Hospital Services. With knowledge and experience of healthcare delivery in international markets, 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.

About GHIS

Global Healthcare Investments & Solutions (www.ghis.us) is an entrepreneurial and innovative healthcare investments and solutions company with a proven track record. GHIS is currently the controlling shareholder of Centric Health and has an advisory agreement with the Company.

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 timing of trading on the TSX and anticipated benefits thereof, statements regarding 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.

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SOURCE Centric Health Corporation

For further information: For further information: Peter Walkey, Chief Financial Officer, Centric Health, (416) 927-8400 ext. 309, pwalkey@centrichealth.ca; Michael Moore, Investor Relations, Equicom Group, (416) 815-0700 ext. 241, mmoore@equicomgroup.com


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