Centric Health Announces Appointment of Independent Director

TORONTO, Feb. 22, 2013 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), Canada's leading diversified healthcare company, is pleased to announce that Mr. Yazdi J. Bharucha, CA, ICD.D, was appointed today as an independent member of the Board of Directors of the Company. Mr. Bharucha has also been named as Chair of the Audit Committee and will be appointed to selected Board sub-committees.

"We are pleased to welcome Mr. Bharucha to the Board of Directors," said Dr. Jack Shevel, Chairman, Centric Health Corporation.  "With an extensive and formidable track record in senior leadership and Board positions, including more than a decade as CFO of one of Canada's most successful REITs, we look forward to benefitting from his expertise in the areas of corporate governance and oversight in serving the long-term interests of stakeholders through ensuring Centric's integrity, transparency and long-term strength. Mr Bharucha's experience in healthcare organizations will certainly stand Centric in good stead as it focuses on its strategy of providing solutions centered on patients and healthcare professionals with the imperative of delivering quality care and outcomes."

Mr. Bharucha currently serves on the Board of Directors of Genesis Land Development Corp (TSX: GDC); Rouge Valley Hospital System, one of Ontario's largest integrated hospital and health systems; Goodwill Industries Inc.; and on the Board of Trustees of Alosinac Trust, a private realty trust.  Mr. Bharucha enjoyed an accomplished 30-year career during which he held various senior financial and management positions at both private and public companies and, during his career, he developed a strong interest in health care issues, as well as in the health interests of diverse communities.  Notably, Mr. Bharucha was a founder of Canadian Apartment Properties Real Estate Investment Trust (CAP REIT) (TSX: CAR.UN), now one of Canada's largest apartment landlords, and served as the Chief Financial Officer and Secretary from 1997 until his retirement in 2009. He was nominated in 2009 for Canada's CFO of the Year Award by Financial Executives International Canada. Mr. Bharucha is a Chartered Accountant and is a graduate of the Directors Education Program (ICD.D.), Rotman School of Management.

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

David Cutler
President and Chief Executive Officer
Centric Health Corporation
416-927-8400
[email protected] 

Lawrence Chamberlain
Investor Relations
TMX Equicom
416-815-0700 ext. 257
[email protected]