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MHA Announces: Managed Health Care Associates, Inc. (MHA) Expands Board of Directors
Date:1/9/2008

FLORHAM PARK, N.J., Jan. 9 /PRNewswire/ -- Managed Health Care Associates, Inc. (MHA), the nation's largest alternate site GPO, today announced the addition of two outside members, Mr. Barry R. Freedman and Mr. Brian Wheelan to the MHA Board of Directors. Mr. Freedman and Mr. Wheelan join seven existing board members representing executives from MHA and Diamond Castle Holdings, LLC.

Barry Freedman is President and Chief Executive Officer of Albert Einstein Healthcare Network in Philadelphia, PA. and has been associated with Albert Einstein since 2003. He leads a Network of over 7,000 employees, including a staff of 400 employed physicians, 375 residents and fellows, and close to 1,000 affiliated physicians. Prior to joining the Albert Einstein Healthcare Network, Mr. Freedman served as President of The Mount Sinai Hospital in New York City. In addition to his distinguished career posts at Albert Einstein and Mount Sinai, Mr. Freedman is also a recognized leader in health affairs at the local, state and national level and has significant GPO experience, having worked with other national GPOs at the Board of Directors level.

Brian Wheelan is the Chief Financial Officer and Vice President for Strategy of Beacon Health Strategies where he leads the organization in the areas of strategic development, finance, network management and claims operation. Prior to joining the Beacon team, Mr. Wheelan was a manager in the Health Care Practice of Bain & Company, a multinational management consulting firm where he specialized in corporate strategic development and mergers and acquisitions. Earlier in his career Mr. Wheelan held key positions in State Government serving as the Assistant Secretary for Policy and Planning and the Deputy Director of Medicaid for the Executive Office of Health and Human Service of the Commonwealth of Massachusetts.

MHA's CEO Doug Present commented "Our lead investor, Diamond Castle Holdings, has been committed to bringing additional resources to MHA that would help fuel our company's continued growth. They have clearly accomplished that objective with the expansion of our Board. I am delighted that Barry and Brian will be joining the MHA team as they bring to the table a wealth of industry knowledge, contacts and experience that will help set our course for the future. They will both be tremendous assets to our Board".

"I am pleased to have been asked by MHA to serve on the Board" stated Barry Freedman. "Their growth over the last several years has been tremendous and I am looking forward to working with this innovative and talented organization". Brian Whelan added "MHA is the clear industry leader in the Alternate Site space. Working with them to implement the next stage of their growth strategy is very exciting and I'm pleased to have been selected to join the Board".

About MHA

Managed Health Care Associates, Inc. (MHA) is the largest Alternate Site GPO in the country servicing the Long Term Care, Home Infusion, Combo Pharmacy and Specialty Pharmacy industries. MHA is also the leading Long Term Care Pharmacy Network Manager with focus on serving the Medicare D patient population. MHA's success is driven by unparalleled member support, competitive contracts, and the ability to create sophisticated, customized, web tools and reports, designed to increase savings and promote profitability. Members utilize MHA services to assist in the purchasing of a complete line of pharmaceuticals, medical supplies, capital equipment, and nutritional food, as well as network access to the majority of the largest national and regional prescription drug plans managing the Medicare Part D drug benefit. MHA also offers a variety of other services including contract administration, marketing, and continuing education. For more information, visit http://www.mhainc.com

About Diamond Castle

Diamond Castle Holdings, LLC is a private equity firm with over $1.85 billion of committed capital under management. Founded in 2004 by five senior investment professionals from DLJ Merchant Banking Partners, Diamond Castle specializes in leveraged buyouts, growth capital and equity-like investments in both public and private companies, Diamond Castle targets investments in the following industry sectors: media and communications, energy and power, financial services, healthcare and diversified industries. Diamond Castle has 25 employees located in New York, New York. For more information on Diamond Castle, please visit http://www.dchold.com

For More Information Contact:

Angela Elsier

Director of Marketing

Managed Health Care Associates, Inc.

800-642-3020 X2870

aelsier@mhainc.com


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SOURCE Managed Health Care Associates, Inc.
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