MONTREAL, CANADA–(Marketwired – Nov 25, 2015) – Knight Therapeutics Inc. (TSX:GUD) (“Knight”), a leading Canadian specialty pharmaceutical company, announced that later today it will successfully exit its investment in CRH Medical Corporation (TSX:CRH)(NYSE:CRHM) (“CRH”) following early repayment of the remaining balance of US$22.0 million on its secured loan to CRH.
In December of 2014, Knight provided a secured loan of US$30.0 million to help CRH fund the transformative acquisition of Gastroenterology Anesthesia Associates, LLC and GAA Management, LCC. Since that time, CRH has experienced tremendous success, having raised $27.4 million of equity at $3.40 per share in March 2015, more than triple the share price from when Knight first extended the secured loan four months earlier. Part of those proceeds were used to retire US$7.9 million of CRH’s secured debt to Knight.
“We are pleased to have financed the transformation of CRH into a leading anesthesia management company. This accomplishment has been personally gratifying and financially rewarding. We love supporting well-grounded management teams achieve their lofty dreams through partnership,” said Jonathan Ross Goodman, President and CEO of Knight.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.’s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at www.gud-knight.com or www.sedar.com.
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.’s Annual Report and in Knight Therapeutics Inc.’s Annual Information Form for the year ended December 31, 2014. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.