TORONTO, ONTARIO--(Marketwire - Feb. 14, 2011) -


Centric Health Corporation ("Centric Health") (TSX:CHH) announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. and including Versant Partners Inc. (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a private placement bought deal basis 15,600,000 common shares (the "Common Shares") of the Company, at a price of $1.20 per Common Share (the "Offering Price") for aggregate gross proceeds to the Company of $18,720,000 (the "Offering").

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,340,000 Common Shares at the Offering Price, exercisable in whole or in part, at any time up to 48 hours prior to the Closing Date. If this option is exercised in full, an additional $2,808,000 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $21,528,000.

The Company intends to use the net proceeds for strategic acquisitions from time to time and general corporate purposes.

The Offering is expected to close on or about March 3, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Centric Health

Centric Health's vision is to be Canada's premier healthcare company, providing innovative solutions centered on patients and healthcare professionals. As a diversified healthcare company with investments in several niche service areas, Centric Health currently has operations in medical assessments, disability and rehabilitation management, physiotherapy and surgical centres, homecare, specialty pharmacy and wellness and prevention. With knowledge and experience of healthcare delivery in international markets and extensive and trusted relationships with payers, physicians, and government agencies, Centric Health is pursuing expansion opportunities into other healthcare sectors to create value for all stakeholders with an unwavering commitment to the highest quality of care. Centric Health is listed on the TSX under the symbol CHH. For further information, please visit Centric Health's strategic advisor is Global Healthcare Investments & Solutions, Inc. ("GHIS") ( GHIS and entities controlled by shareholders of GHIS are currently the majority shareholders of Centric Health.

This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Centric Health and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Centric Health will derive there-from.

Contact Information: Centric Health
Peter Walkey
Chief Financial Officer
416-481-0834 ext. 309
Equicom Group
Catherine Love
Investor Relations
416-815-0700 x266