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Commenting on the Company's second quarter results, Edward Wright, ChiefExecutive Officer, CRH Medical Corporation stated, "We continue to see strongquarter over quarter growth with total revenue increasing 38% in the secondquarter compared to the first quarter of 2007. As the awareness of ourCenters' for Colorectal Health continues to build, we expect patient demandfor our technology and treatment protocols to show further increases. We alsoexpect to add additional Centers in the near future and hope to report on ourprogress in this regard soon."
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During the quarter the Company determined that its functional currency hadchanged from the Canadian dollar to the United States ("U.S.") dollar becausethe majority of its operations are now denominated in U.S. dollars. Concurrentwith this change in functional currency, the Company adopted the U.S. dollaras its reporting currency effective January 1, 2007 and, therefore, restatedfirst quarter 2007 results in US dollars.
About CRH Medical Corporation:
CRH Medical Corporation is utilizing the first single use, patented,disposable, hemorrhoid banding system through its Center for Colorectal Healthfacilities. CRH Medical is opening its Center for Colorectal Health facilitiesin the United States specializing in the treatment of hemorrhoids andfissures, and colon cancer screening. The Company's goal is to become thepreeminent resource on colorectal health for consumers and medicalprofessionals in North America.
The information in this news release contains so-called "forward-looking"statements. These include statements regarding CRH Medical expectations,beliefs, intentions or strategies for the future, which may be indicated bywords or phrases such as "anticipate", "expect", "intend", "plan", "will", "webelieve", "CRH Medical believes", "management believes" and similar language.All forward-looking statements are based on CRH Medical current expectationsand are subject to risks and uncertainties and to assumptions made.
CONTACT: visit the Company's website at www.crhmedcorp.com or the SEDARwebsite at www.sedar.com or email us at [email protected] TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE CRH Medical Corporation
