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CRH Medical Reports Strong Third Quarter 2007 Results

Posted on: Tuesday, 20 November 2007, 18:00 CST

VANCOUVER, Nov. 20 /PRNewswire-FirstCall/ -- CRH Medical Corporation (CRM:TSX-V) announced today unaudited results for the three and nine months ended September 30, 2007 (all figures are in US dollars). Revenue for the three months ended September 30, 2007 increased 408% to $879,698 compared to $215,840 for the same period in 2006. Revenue for the nine months ended September 30, 2007 increased 542% to $2,081,746 compared to $383,965 for the same period in 2006. The Company recorded a net loss of $777,584 ($0.02 per share) and $2,728,408 ($0.06 per share) for the three and nine months ended September 30, 2007 compared to a net loss of $1,631,213 ($0.04 per share) and $3,650,144 ($0.09 per share) for the same periods in 2006. Additionally, the Company announced that as of September 30, 2007 it had approximately $4.5 million in cash and cash equivalents and working capital of $5.0 million.

Commenting on the Company's third quarter results, Edward Wright, Chief Executive Officer, CRH Medical Corporation stated, "We are extremely pleased with our rapid revenue growth, especially when compared to last year. We continue to see strong quarter over quarter performance with total revenue increasing 26% in the third quarter compared to the second quarter of 2007. As previously announced we opened two additional Centers in October 2007 and expect to continue to open Centers in a number of new markets. With these additional Centers, and with our existing Centers showing impressive gains in new patient visits, we expect to show continued quarter over quarter revenue growth. For example, we are pleased to report that in the first month of the fourth quarter, we experienced an all time record number of patient visits."

Mr. Wright continued by adding, "It's noteworthy that our net losses are coming down significantly. Importantly, our strong balance sheet and rapid revenue growth should allow us to continue to implement an impressive expansion plan."

About CRH Medical Corporation:

CRH Medical Corporation is utilizing the first single use, patented, disposable, hemorrhoid banding system through its owned and managed Centers for Colorectal Health. According to the National Institute of Health approximately 50% of the U.S. population will develop hemorrhoids by age 50. CRH Medical is opening Centers for Colorectal Health facilities in the United States specializing in the treatment of hemorrhoids and plans to significantly increase the number of Centers for Colorectal Health across the U.S. to address this underserved market. The Company's goal is to become the preeminent resource on colorectal health for consumers and medical professionals in North America.

The information in this news release contains so-called "forward-looking" statements. These include statements regarding CRH Medical expectations, beliefs, intentions or strategies for the future, which may be indicated by words or phrases such as "anticipate", "expect", "intend", "plan", "will", "we believe", "CRH Medical believes", "management believes" and similar language. All forward-looking statements are based on CRH Medical current expectations and are subject to risks and uncertainties and to assumptions made.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

CONTACT: Dean Linden, Investor Relations, CRH Medical Corporation, (604) 633-1440 or ir@crhmedcorp.com. Additional information may also be found by visiting the Company's website at http://www.crhmedcorp.com/ or the SEDAR website at http://www.sedar.com/

CRH Medical Corporation

CONTACT: Dean Linden, Investor Relations, CRH Medical Corporation, (604)633-1440 or ir@crhmedcorp.com. Additional information may also be found byvisiting the Company's website at http://www.crhmedcorp.com/ or the SEDAR website athttp://www.sedar.com/

Source: PRNewswire-FirstCall

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