TORONTO, Dec. 4, 2017 /CNW/ - Centric Health Corporation ("Centric Health" or the "Company") (TSX:CHH) today announced thatDavid Cutler, the President and Chief Executive Officer of the Company, will be retiring as an officer and director of the Company effective January 31, 2018.
"It has been a pleasure
The Company will immediately begin an executive search for a new Chief Executive Officer. Dr. Jack Shevel, the Chairman of the Board, will serve as interim Chief Executive Officer following Mr. Cutler's retirement if a new Chief Executive Officer is not found by that time. Dr. Shevel, assisted by a management committee comprised of certain members of senior management of the Company, will work closely with Mr. Cutler in the transition of his duties over the coming weeks. The Company is also in discussions with Mr. Cutler regarding a possible consulting arrangement following Mr. Cutler's retirement for specific projects relating to key customer accounts, government relations and the Company's implementation of the AceAge Karie device. The Company will continue to execute on its previously announced strategic initiatives.
Dr. Jack Shevel, Chairman of the Board, said "The Board is grateful for the valuable contribution that David has made during his time with us, including significantly restructuring the Company's balance sheet by executing on our debt repayment strategy and completing the transition of a key customer account. He is leaving the Company in a much stronger position for growth. We wish him the best in his retirement and know that he is looking forward to spending more time with his grandchildren. David is highly regarded and has had a tremendous career in the long-term care and seniors housing industry."
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:
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 there-from. The Company does not undertake to update any forward-looking information contained herein, except as required by applicable Canadian securities legislation.
SOURCE Centric Health Corporation
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