Navigation Links
CRH Medical reports preliminary year end results
Date:3/6/2008

- 2007 Revenues increase 418% versus 2006

- Q4 2007 revenues increase 32% versus Q3 2007

VANCOUVER, March 6 /PRNewswire-FirstCall/ - CRH Medical Corporation (CRM:TSX-V) announced today that it recorded revenues of $3.25 million for the year ended December 31, 2007 compared to $0.6 million for the year ended December 31, 2006 an increase of 418%. The Company's net loss decreased to $3.5 million ($0.08) per share for the year ended December 31, 2007 compared to $5.0 million ($0.12) per share for the year ended 2006. Additionally, the Company announced that as of December 31, 2007 it had approximately $4.4 million in working capital.

Revenue for the three months ended December 31, 2007 increased 32% to $1,163,944 compared to $879,698 for the three months ended September 30, 2007.

Commenting on the 2007 results, Edward Wright, Chief Executive Officer stated, "2007 was a breakthrough year for our Company. We have proven our ability to create patient demand and significantly increase revenue as evidenced by 13,461 patent visits in 2007 compared to 1,699 during 2006. As a result, in 2008 we expect continued increases in revenue through growth of our existing Centers and opening a significant number of new Centers."

Edward Wright further stated, "We plan to aggressively expand in 2008 by opening at least 12 additional Centers, and to develop our 'Partnership Program.' This program provides physicians the ability to acquire our technology, treatment protocols, marketing and operational experience. We anticipate the Partnership Program will significantly contribute to the Company's revenue growth by increasing the number of physicians having access to our technology."

The Company's December 31, 2007 financial report will be available on or before March 31st at http://www.sedar.com

About CRH Medical Corporation:

CRH Medical Corporation is utilizing the first single use, patented, disposable, hemorrhoid banding system through its Center for Colorectal Health facilities. According to the National Institute of Health approximately 50% of the U.S. population will develop hemorrhoids by age 50. CRH Medical is opening its Center for Colorectal Health facilities in the United States specializing in the treatment of hemorrhoids, anal fissures, and colon cancer screening and plans to significantly increase the number of Centers for Colorectal Health across the U.S. to address this underserved market. The Company's goal is to become the preeminent resource on colorectal health for consumers and medical professionals in North America.

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) the company's ability to successfully recruit medical professionals for its Centers for Colorectal Health (ii) the company's ability to manufacture its products; (iii) decisions, and the timing of decisions, made by the health regulatory agencies regarding the company's products; (iv) the company's ability to enter into distribution agreements for its products, and to complete and maintain corporate alliances relating to the development, commercialization and use of its technology and products; (v) market acceptance of its technologies and products; and (vi) the competitive environment and impact of technological change. 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.

CONTACT: call Dean Linden, Corporate Communications, CRH Medical Corporation at (604) 633-1440 or ir@crhmedcorp.com. Additional information may also be found by visiting the Company's website at http://www.crhmedcorp.com or the SEDAR website at http://www.sedar.com


'/>"/>
SOURCE CRH Medical Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. MSU engineering team designs innovative medical device
2. ATS Medical to Present at the 2007 Thomas Weisel Partners Healthcare Conference
3. Providence St. Joseph Medical Center, Caregivers Reach Agreement on a Union Contract
4. Owner and Operator of Florida Durable Medical Equipment Company Convicted of Medicare Fraud
5. Father and Daughter From Tanzania Receive Their First Medical Examination in Newport Beach
6. Doctors and medical ethicist discuss whether doctors should participate in capital punishment
7. Preparation for Natural Disasters Critical for People With Diabetes, Chronic Medical Conditions
8. Doctors and Medical Ethicist Discuss Whether Doctors Should Participate in Capital Punishment
9. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
10. Milestone Scientific Announces Successful Completion of its Collaboration Agreement With Carticept Medical
11. FDA Seeks to Regulate Complementary and Alternative Medicine; Products Such as Vegetable Juice Could Be Restricted for Medical Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... ... 08, 2016 , ... The Dan Carlisle Agency, an Alabama-owned ... is announcing the launch of a charity drive to raise support and awareness ... and children in Birmingham has grown steadily since the 1980’s, and the Pathways ...
(Date:12/8/2016)... Payne, AL (PRWEB) , ... December 08, 2016 ... ... offering insurance and financial consulting services to residential and commercial clients in the ... awareness and support for Nobis Works. , Since 1977, Nobis Works has built ...
(Date:12/7/2016)... VA (PRWEB) , ... December 07, 2016 , ... ... are celebrating the passage of the most comprehensive mental health systems reform legislation ... the support of the President, and the commitment of our elected officials to ...
(Date:12/7/2016)... ... December 07, 2016 , ... ... of Smart Device Remote Control through a new partnership with Splashtop Inc. This ... strengthens its mobile solutions to help businesses maximize their uptime and productivity. , ...
(Date:12/7/2016)... ... December 07, 2016 , ... It is vital for any lab to secure ... data. The team at Beckman Coulter has designed Kaluza, templates with advanced analytical tools ... need to operate in a GLP (Good Laboratory Practice) fashion. , With features designed ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... 2016  Haemonetics Corporation (NYSE: HAE ) has ... an innovative software suite designed to help customers drive efficiency ... of NextGen DMS 4 improves core features and introduces innovations ... liter of plasma collected, enhancing quality and regulatory compliance and ... ...
(Date:12/8/2016)... SINGAPORE , BEIJING , and ... a leading commercial provider of genomic services and solutions with ... a Singapore biotechnology company; and the ... today that NovogeneAIT Genomics Singapore (NovogeneAIT) – a new joint ... whole genome sequencing (WGS) centre at Biopolis, Singapore ...
(Date:12/7/2016)... Dec. 7, 2016 "Lantus (Insulin Glargine) Biosimilar Clinical Trial & ... biosimilar version of Lantus drug in clinical pipeline. Currently 5 biosimilar version ... Japan , Kenya , Czech ... , China , Slovakia , ... 2 diabetes mellitus. The patent on Lantus expired in 2014. Lantus ...
Breaking Medicine Technology: