CRH Medical reports 115% increase in first-quarter 2010 revenue

CRH Medical Corporation (CRM:TSX-V) announced today unaudited results for the three months ended March 31, 2010. Total revenue for the three months ended March 31, 2010 was $1,951,590 compared to $1,739,470 for the same period in 2009. The net loss decreased 57% to $300,882 for the three months ended March 31, 2010 compared to $700,008 for the same period in 2009.

Highlights of the quarter include:

Product Sales:

- Revenue from product sales increased 115% to $715,622 for the three months ended March 31, 2010 compared to $332,273 for the same period in 2009. - Operating income from the sale of products increased 297% to $279,949 for the three months ended March 31, 2010 compared to a $70,561 for the same period in 2009. - For the three months ended March 31, 2010 the Company sold 10,080 units of its CRH O'Regan System compared to 4,240 for the three months ended March 31, 2009. Center Operations: - Revenue from Center operations decreased 12% to $1,235,968 for the three months ended March 31, 2010 compared to $1,417,197 for the same period in 2009. The Company had 10 Centers at March 31, 2010 compared to 15 at March 31, 2009. - The number of patient appointments for the 10 Centers open as of March 31, 2010 increased 5% compared to the same period in 2009. - Operating loss from the Center operations decreased 66% to $92,458 for the three months ended March 31, 2010 compared to a loss of $272,010 for the same period in 2009.

As of March 31, 2010 the Company had $1,523,016 in cash and cash equivalents and $1,672,512 in working capital.

Edward Wright, Chief Executive Officer of CRH Medical states "It is extremely rewarding to see the continued momentum of our Partnership Program and how it is positively impacting the value of our Company. The Gastroenterology community is just beginning to realize that the CRH O'Regan System provides superior patient care and significant practice revenue. Through our innovative marketing initiatives CRH is also providing a significant number of new hemorrhoid patients to our partners, many of which require other endoscopic procedures. Providing new patients to our partners is a unique element of our Company that differentiates CRH from other medical product companies." Wright further states "To date we have trained 460 of the potential 8,000 gastroenterologists in the United States, our initial market. In terms of international expansion, in April, as part of our expansion into new markets, our Chinese distribution partner commenced physician training activities in China. We would expect to see results from this initiative as early as the third quarter of this year. We are also looking for additional opportunities to expand beyond these markets."

Source:

CRH Medical Corporation

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