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MedServe to be Acquired by Stericycle for $185 Million
Date:5/14/2009

HOUSTON, May 14 /PRNewswire/ -- MedServe, Inc., a private company, today announced that it has entered into an agreement to be acquired by Stericycle, Inc. (Nasdaq: SRCL) for $185 million in cash.

MedServe has been majority-owned by Avista Capital Partners, Chrysalis Ventures and Murphree Venture Partners since September 2006. MedServe is engaged in the collection, transportation, treatment and disposal of medical waste, hazardous waste, universal waste and other regulated wastes; sharps management services; safety and compliance training services; and other related businesses.

Roger Ramsey, Chairman and Chief Executive Officer of MedServe, said, "We would like to thank Avista, Chrysalis, Murphree and our other shareholders for their commitment to MedServe over the last three years. We are grateful for their support of the company's strategic vision and assistance in achieving this successful event.

"Most importantly, I would like to express my appreciation for MedServe's talented, dedicated and experienced employees. It is through their hard work that our company has experienced such rapid growth in the U.S."

Steve Webster, Co-Managing Partner of Avista, said, "MedServe has made significant progress during the period of Avista, Chrysalis and Murphree's ownership. The company has grown into a great business with an exceptional base of employees. The entire investor group is delighted to have sponsored MedServe and that we were able to partner with the company's outstanding management team."

The transaction is subject to customary closing conditions and regulatory reviews, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

About MedServe

MedServe, Inc., headquartered in Houston, Texas, is engaged in th
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SOURCE MedServe, Inc.; Avista Capital Partners
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