TORONTO, July 26, 2013 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX:CHH), Canada's leading diversified healthcare services company, today announced that a Judicial Review by the Ontario Divisional Court has suspended the implementation of proposed changes to the current funding model for publicly funded physiotherapy for seniors provided in long-term care and retirement homes in Ontario. As disclosed in its news release of June 6, 2013, the proposed changes were originally scheduled to take effect on August 1, 2013. A hearing at which a panel of three judges will review the implementation of the legislation has been scheduled for August 21, 2013.
"We are pleased that the Court has seen fit to give due consideration to a decision that will have a profound impact on the quality of life for seniors across Ontario," said David Cutler, President and Chief Executive Officer, Centric Health Corporation. "Centric Health's Seniors Wellness Team will continue to deliver the highest standards of excellence in the provision of rehabilitation and restorative care services and outcomes to the more than 50,000 residents of long-term care and retirement homes across Ontario. At the same time, we will continue to seek out innovative healthcare services and solutions with the ultimate objective of providing cost-effective quality care and outcomes in partnership with healthcare professionals."
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 and surgical centres, homecare, 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.
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. 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
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