Centric Health announces board changes

TORONTO, Feb. 16 /CNW/ - Centric Health Corporation (TSX: CHH), a diversified healthcare company, today announced it has accepted the resignation from the board of the Company's Founder, Brenda Rasmussen. Effective immediately, subject to any necessary regulatory approval, this position will be filled by the appointment to the board of Ingrid Davis, former executive and Board Member of the Netcare Group in South Africa and the United Kingdom ("Netcare").

Over the past 20 years, Ingrid Davis has developed an impressive career track record through executive leadership positions at Netcare where she has been responsible for direct and ancillary services to more than four million patients annually. Mrs. Davis' key areas of experience and success include global procurement and purchasing, physician partnerships, medical facilities and commercialization of ancillary revenue streams to healthcare services operations at Netcare, as well as human resources and corporate and social responsibility initiatives. In addition, Mrs. Davis was a key executive in Netcare's subsidiary, General Healthcare Group, which is the leading provider of independent health care services in the United Kingdom, as well as a provider of specialized clinical services for the National Health Service. Mrs. Davis has received numerous acknowledgements and nominations as one of South Africa's Most Influential Women and Business Woman of the Year. She is currently an officer of GHIS and will be designated as non-independent member of the board of Centric Health.

"I and the rest of the Board of Directors would like to thank Brenda for her many years of dedication to building the businesses under the Centric umbrella. The Company today is poised for exceptional growth and that would not have been possible without Brenda's early efforts," said Dr. Jack Shevel, Interim President, Chief Executive Officer and Member of the Board of Centric Health Corporation. "Ingrid's extensive experience in building and running world class healthcare services operations will allow us to expand into new healthcare sectors and support our ambitious growth strategy."

About Centric Health

Centric Health's vision is to be Canada's premier healthcare company, providing innovative solutions centered round 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 hospital services. 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.

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For further information: Peter Walkey, Chief Financial Officer, Centric Health, [phone] ext. 309, [email protected]; Michael Moore, Investor Relations, Equicom Group, [phone] ext. 241, [email protected]