Centric Health acquires two pharmacies on Southlake Regional Health Centre campus in Ontario

Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), Canada's leading diversified healthcare company, today announced that it has acquired, in partnership, two pharmacies ("the Pharmacies") located on the Southlake Regional Health Centre campus ("Southlake") in Newmarket, Ontario.

The total consideration to be paid for the acquisition will be approximately $7.0 million in cash. The Pharmacies generate annual revenue of approximately $6.2 million and yield a market related EBITDA margin of 15-20%. The transaction is expected to be accretive to Centric Health's earnings per share in 2011.

"This is a significant step for Centric Health to invest in niche pharmacy services as it implements its strategy of expanding into new healthcare sectors," said Dr. Jack Shevel, Chairman and Interim President and Chief Executive Officer of Centric Health Corporation. "We look forward to building on the solid reputation already achieved at Southlake and are committed to unwavering quality care to patients and staff with a focus on improving access and expanding the range of services."

The Southlake Regional Health Centre is a multi-disciplinary healthcare campus with a 380-bed regional tertiary care hospital, in the fastest growing region in Ontario. Southlake's high standard of care is delivered by more than 2,700 staff, 500 volunteers and is supported by over 460 physicians.

"Our region is growing at a remarkable rate and the people of Newmarket, including our large number of senior citizens, rely on the quality care provided by Southlake," said Debra Scott, President & CEO of the Newmarket Chamber of Commerce. "We welcome the investment Centric Health is making in our region and their commitment to further enhancing the services available in our region."

It is anticipated that all requisite approvals relating to this transaction will be received by September 30th 2010.