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Centric Health to acquire Blue Water Surgical & Medical Centres, LSC

Canada-based diversified healthcare company Centric Health has entered into agreements to acquire substantially all of the assets of Blue Water Surgical Centre, Blue Water Rejuvenation, Blue Water Diagnostics and Windsor Endoscopy Centre (collectively Blue Water Surgical & Medical Centres), along with 75% of the issued and outstanding securities of the London Scoping Centre (LSC).

Centric Health currently has operations in medical assessments, disability and rehabilitation management, physiotherapy and surgical centers, homecare, specialty pharmacy and wellness and prevention.

The Blue Water Surgical & Medical Centres operate facilities which offer a variety of cosmetic, bariatric and endoscopy services covering South Western Ontario.

The LSC, located in South London, Ontario, is a newly constructed facility offering a range of scoping procedures.

Centric Health CEO Daniel Carriere said the acquisition of Blue Water Surgical & Medical Centres enhances their geographic coverage and expansion by creating a significant footprint for Centric Health in South Western Ontario.

"The Centres offer an impressive variety of cosmetic and surgical treatments, incorporating various endoscopic procedures, a growing bariatric practice and significant potential for growth in other associated surgical areas," Carriere said.

The closing is expected to occur in June/July, 2011, subject to further satisfactory due diligence, definitive documentation, financing and regulatory approvals and customary closing conditions.