Centric Health to acquire DNPI Group assets

Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), Canada's leading diversified healthcare company, today announced that it has entered into a definitive asset purchase agreement ("APA") through a wholly owned subsidiary to acquire certain assets of Dedicated National Pharmacies Inc., Methadrug Clinic Limited and Union Medical Pharmacy Inc. ("DNPI Group") from the court-appointed receiver of the DNPI Group, Grant Thornton Limited (the "Receiver").  The assets to be acquired include a network of 10 specialty pharmacies servicing 33 treatment centers across Ontario which provide access to appropriate treatment and care for patients undergoing Methadone Maintenance Treatment (MMT).   The terms of the APA are to be kept confidential pending closing.  The closing of the transaction is subject to Court and TSX approval. If all the closing conditions are satisfied, the closing is expected to occur in July 2011.

In a press release dated December 22, 2010, the Company announced its intention to acquire DNPI Group subject to Court approval.  In a press release dated March 4, 2011, the Company announced that it had terminated discussions to acquire DNPI Group from the Receiver.  Thereafter, discussions resumed and Centric Health has since renegotiated the terms of the transaction with key stakeholders. The closing of the transaction is contingent upon obtaining a vesting order from the Ontario Superior Court of Justice ("Court") approving the transaction and vesting the purchased assets in the purchasers subsidiary.

It is currently contemplated that the motion for court approval will be heard by the Court in July 2011.  In addition to approval of the transaction and vesting of the purchased assets, the Receiver has requested that the Court order that details of the transaction be kept confidential pending closing and that confidential information filed by the Receiver be sealed in the Court file until that time. If Court approval is obtained, Centric Health will provide a further update.

"We believe the acquisition of DNPI is an excellent addition to our specialty pharmacy division and represents a key growth opportunity for Centric Health as we look to expand these services into other provinces," said Daniel Carriere, CEO of Centric Health Corporation. "This form of treatment is an opportunity to provide an important component of medical and public healthcare that has helped thousands of people worldwide.  We are committed to working within the National Regulatory Framework for Methadone treatment in collaboration with qualified healthcare practitioners, to provide the best possible standard of care for all patients."