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Access MediQuip Names Tim Hargarten Chief Executive Officer
Date:7/16/2009

HOUSTON, July 16 /PRNewswire/ -- Access MediQuip, LLC, the nation's first and largest provider of outsourced implantable medical device management solutions to the healthcare industry, announced today that it has appointed Tim Hargarten to chief executive officer. The appointment follows the company's tenth quarter of double-digit revenue growth since it partnered with Water Street Healthcare Partners, a leading private equity firm focused exclusively on healthcare.

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Mr. Hargarten, 52, has nearly 20 years of experience building leading healthcare businesses. The former chairman and CEO of NaviMedix, Inc., Mr. Hargarten grew the company to become the largest provider of real-time administrative, clinical and financial capabilities to the U.S. health system. Previously, Mr. Hargarten served as CEO of Kinetra, LLC, a joint venture between Electronic Data Systems (EDS) and Eli Lilly, where he helped the company create one of the industry's first portals linking hospitals, insurance companies, physicians and pharmaceutical benefit managers.

"Tim is highly regarded in the healthcare industry and particularly among payors for his exceptional ability to build innovative businesses with unique value propositions," said Steve Cosler, chairman of Access MediQuip and an operating partner with Water Street Healthcare Partners. "His experience in the healthcare system, as well as his comprehensive understanding of the challenges facing national and regional insurance plans will help us advance our mission of partnering with key healthcare constituents to provide creative and value-added device management solutions."

Access MediQuip was founded in 1997 to bring clarity and efficiency to the procurement, reimbursement and management of high-cost implantable medical devices such as orthopedic and spinal implants. Since that time, Access MediQuip has become the nation's leading provider of implantable medical device management solutions. The company has expanded its services to more than 2,500 healthcare payors and providers, and 175 device manufacturers to help manage implantable medical devices used for thousands of procedures. Access MediQuip has also developed the industry's largest database of claims information for implantable medical devices to provide payors, manufacturers and providers with the most comprehensive data available on U.S. implantable medical device costs and utilization rates.

"Access MediQuip is firmly positioned as the clear leader in this emerging industry. I was attracted to the company because I was impressed with the team's vision and aspirations for continued exponential growth," said Mr. Hargarten. "My goal is to continue to build on our company's strong platform to create data analytics, clinical programs and efficiencies that our customers can't find anywhere else in the implantable medical device industry. In doing so, Access MediQuip will be well-positioned to play a more active and meaningful role in the national call to action to reduce healthcare costs and improve patient care."

About Access MediQuip

Access MediQuip is the nation's first and largest provider of outsourced implantable medical device management solutions. The company works with thousands of payors, manufacturers and providers to manage the acquisition, financing, delivery and reimbursement of implantable medical devices such as orthopedic and spinal implants. Founded in 1997, the company is headquartered in Houston. For more information, please visit www.accessmediquip.com.


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