Centric Health Announces Changes to Executive Team

TORONTO, Oct. 23, 2018 /CNW/ - Centric Health Corporation ("Centric Health" or the "Company") (TSX:CHH), one of Canada's leading healthcare services companies, today announced a number of changes to its executive team.

Leslie Cho, the Company's Chief Financial Officer, will be leaving the Company effective November 16, 2018. A search for a new CFO is underway, and further details will be provided in the coming weeks. The Company is grateful to Mr. Cho for his many contributions to the Company during nearly four years of service, and wishes him well in the next chapter of his career.

Nina Freier has joined Centric Health as Chief Human Resources Officer effective October 22, 2018.  Ms. Freier has broad and extensive HR leadership experience across multiple industries.  Most recently, she was Vice President, Human Resources at Sienna Senior Living.  She also had previous experience at Rexall, and is well-acquainted with both the seniors care and pharmacy sectors.  Throughout her career, Ms. Freier has been a results-oriented leader with a demonstrated track record of creating HR competencies, enabling change management and employee engagement, and partnering with the business to deliver on strategic objectives.

Mitchell Sinclair will join the Company on November 5, 2018 as Vice President of Business Development for the Specialty Pharmacy Division.  Mr. Sinclair is a seasoned healthcare leader, having spent more than 25 years in sales and sales leadership roles in various segments of the industry.  For the past seven years, he has been with Cardinal Health, serving as Vice President of Sales for a business that has a significant presence in long-term care and retirement homes.  Mr. Sinclair's experience and established relationships within seniors care make him a strong addition to the Centric Health team as the Company seeks to continue its recent progress in winning new national and regional contracts and strengthening its brand and value proposition with customers.

Ryan Stempfle has been promoted to the position of Vice President and General Manager, Western Canada for the Specialty Pharmacy Division.  In this role, he will be responsible for the Company's pharmacy operations in Alberta, British Columbia and Saskatchewan.  Mr. Stempfle joined Centric Health as part of the Company's acquisition of Pharmacare in 2015 and previously served as National Director of Business Development for the Specialty Pharmacy Division.  He has been a strong contributor to the business and was instrumental in many of the customer contracts won by the Company in recent months.

Tim Matthews, currently Chief Operating Officer of the Specialty Pharmacy Division, will be leaving Centric Health later this year after completion of the Company's business re-engineering plan. Mr. Matthews has been instrumental during the past two years in strengthening the pharmacy business and establishing a more efficient national platform for its operations.

"I am grateful to both Leslie and Tim for their significant contributions to Centric Health, and wish them the very best in their future endeavours," said David Murphy, President and Chief Executive Officer of the Company. "It is with great excitement that we welcome Nina and Mitchell to our team and congratulate Ryan on his promotion," added Mr. Murphy. "We continue to build an experienced management team with a demonstrated track record of delivering growth and achieving results in Canadian healthcare.  I am confident that their leadership and contributions will enable us to successfully execute on our strategy of establishing Centric Health as the leading provider of pharmacy and other healthcare services to Canadian seniors."

About Centric Health

Centric Health's vision is to be Canada's most respected and recognized provider in the independent healthcare sectors in which it operates, world renowned for delivering the highest levels of quality care and outcomes, innovative solutions and value to patients, clients and stakeholders. To this end, Centric Health primarily focuses on two core healthcare businesses:

• The Specialty Pharmacy division is a "Seniors First" model composed of a growing national network of fulfilment centres that deliver high-volume solutions for the cost effective supply of chronic medication and other specialty clinical care services, serving approximately 30,000 residents in over 475 seniors communities (long-term care facilities, retirement homes and assisted living facilities) nationally. The Specialty Pharmacy division also provides pharmaceutical dispensing services for employees insured by corporate health plans.
  
  
• The Surgical & Medical Centres division is Canada's largest independent surgical provider operating five facilities across four provinces. It serves a diversified customer base with private paid non-insured surgeries and diagnostics, government outsourcing of insured surgeries and diagnostics and other procedures funded by third-party payors (including Workers Compensation) and is the proud owner of Canada's first Centre of Excellence in Metabolic and Bariatric Surgery.

With national networks of facilities in each of its businesses, deep knowledge and experience of healthcare delivery and extensive, trusted relationships with payers, physicians, and government agencies, the Company is uniquely positioned to address current and future healthcare needs in growing markets as the Canadian healthcare industry goes through a major transformation over the medium to long term. 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, strategies, alternatives, 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 therefrom.

SOURCE Centric Health Corporation

Contacts: David Murphy, President and Chief Executive Officer, Centric Health Corporation, 416-927-8400