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Charterhouse Group Partners with MTS Health Investors and Highlander Partners to Acquire Chamberlin Edmonds & Associates, Inc., a Leading Provider of Eligibility Services to Hospitals
Date:6/5/2008

NEW YORK, June 5 /PRNewswire/ -- Charterhouse Group, Inc. ("Charterhouse") a New York-based private equity firm that has backed entrepreneurs and supported growing middle-market companies since 1973, announced today that it has partnered with Highlander Partners ("Highlander") and MTS Health Investors ("MTS") to complete the acquisition of Chamberlin Edmonds & Associates, Inc. ("CEA" or the "Company"), the market leader in providing specialized eligibility determination services to America's hospitals.

CEA guides uninsured patients through complex application processes to secure government and community reimbursement for uncompensated medical care expenses. Specializing in federal and state disability programs, the Company primarily serves acute care hospital customers. Using an on-site, patient- centric approach supported by application resolution centers, CEA manages the entire eligibility determination process from initial patient referral through the post-application resolution process. Founded in 1986, the Company currently has contracts in 27 states and works claims nationwide through its regional network of resolution centers.

T. Ulrich Brechbuhl, Chief Executive Officer of CEA, stated, "Charterhouse is a firm with substantial experience in partnering with management teams of leading services companies. With the capital resources and industry knowledge from Charterhouse, Highlander and MTS, we are now positioned to generate substantial organic growth, expand our service offerings and pursue strategic acquisitions."

C. Taylor Cole, Jr., Partner at Charterhouse, stated, "Led by Ulrich and his exceptional management team, CEA provides tremendous value to its hospital customers. Without CEA's services, many hospitals would forego much needed financial resources that help sustain their ability to provide critical healthcare services to communities across the country. We are quite excited to help CEA continue its impressive growth, and we look forward to working with Highlander and MTS who both have significant knowledge and relationships that are highly strategic to CEA."

Founder Judith Starkey, Mr. Brechbuhl and Executive Vice Presidents Kirk Reid and Brian Sadler continue as significant shareholders in the Company.

Charterhouse Operating Partner, Christopher J. Garcia will serve as Chairman of the Board of Directors of CEA. Mr. Garcia has extensive experience in building and leading healthcare and business services companies. He previously founded and built National Healthcare Resources, which was sold in 2001. Since joining Charterhouse in 2003, Mr. Garcia has served as Chairman of three Charterhouse portfolio companies, Lason, Inc., a business process outsourcing company which was successfully sold in 2007, Camelot, Inc., a behavioral health and alternative education services provider and Upstream Rehabilitation, Inc., an outpatient rehabilitation services provider.

Proskauer Rose LLP served as legal advisor to Charterhouse on this transaction.

GE Healthcare Financial Services served as Arranger and Administrative Agent and with CIT Healthcare provided the senior financing for the acquisition.

Robert W. Baird and Co. acted as exclusive financial advisor to the selling shareholders of CEA on this transaction.

About Chamberlin Edmonds:

Headquartered in Atlanta, Georgia, Chamberlin Edmonds and Associates, Inc. serves as patient advocates and provides comprehensive eligibility determination services for hospitals, governments and managed care organizations nationwide. The Company currently provides contracted eligibility determination services to over 160 customers in 27 states and guides patients through complex application processes to secure government and community reimbursement for uncompensated medical care expenses. Chamberlin Edmonds has over 20 years of healthcare experience, with six regional offices in the U.S. and more than 650 employees.

For more information on CEA, please visit http://www.chamberlinedmonds.com.

About Charterhouse Group:

Charterhouse Group, Inc. is a private equity firm with over three decades of experience in building leading middle-market companies. Established in 1973, Charterhouse has invested in excess of $2.0 billion in equity and established over 100 platform companies with a focus in the Healthcare Services, Business Services and Consumer Products and Services sectors.

For more information on Charterhouse, please visit http://www.charterhousegroup.com.

About Highlander:

Highlander Partners, L.P. is an investment firm based in Dallas, Texas that manages assets across a variety of investment types with a significant portion of its funds allocated for direct private equity investments. Highlander Partners primarily focuses on healthcare investments, but also has expertise in basic manufacturing, performance chemicals, food ingredients and other sectors.

About MTS:

MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes equity investments in the buyout, recapitalization or growth financing of healthcare operating companies. MTS focuses on businesses that operate in certain services sectors of healthcare including managed care/health insurance, providers of healthcare services, distributors of medical products and providers of outsourced services to the healthcare industry. The firm also invests in manufacturers of low-technology medical products.

For further information on MTS, please visit http://www.mtshealthinvestors.com


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SOURCE Charterhouse Group, Inc.
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