CRH Medical posted revenues of $32 million for the fourth quarter of 2018, growing their full year revenues to $112.7 million.
What you should know:
Fourth quarter:
1. CRH posted operating income of $6.9 million with a 22 percent operating income margin
2. The company's adjusted operating EBITDA was $15.9 million, down from last year's $17 million.
3. CRH saw 82,528 anesthesia patients.
Full year:
1. CRH posted operating income of $20.3 million with an 18 percent operating income margin.
2. The company's adjusted operating EBITDA was $54.7 million, up from last year's $49.1 million.
3. CRH saw 276,766 anesthesia patients.
CRH CEO Edward Wright said, "We are extremely pleased with our results considering the headwind we faced this year with the reduction in anesthesia reimbursement rates as a result of changes announced by CMS in 2017. We knew this was going to be a challenging year as we implemented the lower reimbursement rates, and I think it is fair to say that not many people expected us to produce these kinds of financial results."