CRH Medical reports year end results

    (all figures are in US dollars)

    -   Clinic operations revenue increases 100%
    -   Product sales revenue increases 173%

    VANCOUVER, April 30 /CNW/ - CRH Medical Corporation (CRM:TSX-V) announced
today that it recorded revenues of $6,655,342 for the year ended 2008 compared
to $3,245,690 for the year ended December 31, 2007. Clinic operations revenue
increased 100% to $6,047,590 for the year ended December 31, 2008 compared to
$3,023,558 for the year ended December 31, 2007. Product sales increased 173%
to $607,752 for the year ended December 31, 2008 compared to $222,132 for the
year ended December 31, 2007.
    For the year ended December 31, 2008 the Company reported an operating
loss of $3,993,221 compared to $4,218,981 for the same period in 2007. The
Company reported a net loss of $3,936,605 ($0.09 per share) for the year ended
December 31, 2008 compared to $3,505,605 ($0.08 per share) for the same period
in 2007.
    Additionally, the Company announced that as of December 31, 2008 it had
approximately $1.6 million in working capital. On April 7, 2009, the Company
closed a private placement financing for net proceeds of approximately $1.8
    Edward Wright, Chief Executive Officer stated, "In response to the
current economic situation, the success of our Partnership Program, and our
goal to be profitable in 2010, CRH has taken a number of actions. First, we
suspended the opening of new Centers for Colorectal Health. We have closed
five Centers that did not show sufficient growth in patient appointments. The
Company has also reduced fixed operating costs in all of our remaining Centers
and reduced corporate overhead. We believe our Partnership Program will
contribute significantly to the future profitability of the Company.
Additionally we expect that our recent financing will provide us with
sufficient financial resources to achieve profitability."
    The Company's December 31, 2008 financial report will be available on

    About CRH Medical Corporation:

    CRH Medical Corporation specializes in the treatment of hemorrhoids
utilizing its proven treatment protocol and patented proprietary technology.
CRH's single use, disposable, hemorrhoid technology is safe and highly
effective in treating hemorrhoid grades I - IV. CRH Medical employs two
commercialization strategies: First, it operates Centers for Colorectal Health
facilities in the United States specializing in the treatment of hemorrhoids
and fissures, and colon cancer screening. In addition CRH distributes its
hemorrhoid banding technology, treatment protocols, operational and marketing
expertise as a complete, "turn key" package directly to its partner
physicians. The Company's goal is to establish the CRH hemorrhoid technology
as the standard for hemorrhoid treatment.
    The information in this news release contains so-called "forward-looking"
statements. These include statements regarding CRH Medical's expectations and
plans relating to its expansion plans for its Centers for Colorectal Health,
statements about CRH Medical's expectations, beliefs, intentions or strategies
for the future, which may be indicated by words or phrases such as
"anticipate", "expect", "intend", "plan", "will", "we believe", "CRH Medical
believes", "management believes", and similar language. All forward-looking
statements are based on CRH Medical's current expectations and are subject to
risks and uncertainties and to assumptions made. Important factors that could
cause actual results to differ materially from those expressed or implied by
such forward-looking statements include: (i) changes in the economy may affect
the Company's business; (ii) the Company's ability to successfully recruit and
retain sufficient qualified physicians and other licensed providers; (iii) our
limited available working capital and cash flows and our ability to raise
additional capital as and when needed (iv) the Company's ability to
manufacture its products; (v) the policies of health insurance carriers in the
United States may affect the amount of revenue the Company receives; (vi) the
Company's ability to successfully market its products; (vii) market acceptance
of its technologies and products; (viii) the competitive environment and
impact of technological change; (ix) changes in United States federal or state
laws, rules, and regulations, including but not limited to those governing the
corporate practice of medicine, fee splitting, Anti-Kickback Statute and Stark
Law; (*) ability to effectively manage growth and retain senior management
personnel; and (xi) product liability and medical malpractice claims, which
may adversely affect our operations. CRH Medical bases its forward-looking
statements on information currently available to it, and assumes no obligation
to update them.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Dean Linden, Corporate Communications, CRH
Medical Corporation at (604) 633-1440 or; Additional
information may also be found by visiting the Company's website at or the SEDAR website at

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890