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HealthSmart Completes Recapitalization to Support Continued Growth, Daniel D. Crowley Named Chairman
Date:11/22/2009

HealthSmart, an innovative healthcare benefit solutions company, today announced that it has successfully completed a recapitalization with Silver Point Capital, L.P. and the Company’s other lenders. Silver Point Capital, L.P. is a private investment firm based in Greenwich, Connecticut. This recapitalization allows the Company to continue its growth and executing its business strategy.

(PRWEB) November 22, 2009 -- HealthSmart Holdings, Inc., an innovative healthcare benefit solutions company, today announced that it has successfully completed a recapitalization with Silver Point Capital, L.P. and the Company’s other lenders. Silver Point Capital, L.P. is a private investment firm based in Greenwich, Connecticut.

Over the past decade, HealthSmart has generated robust growth, in part, through a strategic merger and acquisition program. This recapitalization allows the Company to continue its growth and executing its business strategy.

HealthSmart founder and Chief Executive Officer Ted Parker said, “We have solid financial footing and partners who are committed to HealthSmart’s growth. Completing this recapitalization builds on our relationship with Silver Point, and our other lenders, and provides us with access to capital to pursue our vision.”

HealthSmart also announced today that Daniel D. Crowley has been named Chairman of the Company’s Board. Mr. Crowley is the founder of Dynamic Healthcare Solutions, a firm that invests in and consults with healthcare firms. Through Dynamic, Mr. Crowley has served as senior advisor to a number of major investment firms as well as serving on the boards of numerous healthcare companies and as senior management advisor and interim executive for a variety of healthcare services companies. Mr. Crowley previously was CEO and Chairman of Foundation Health Corporation and prior to
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