For Immediate Release
U.S. HealthWorks acquired
by new ownership group
ALPHARETTA, GEORGIA - December 20, 2006
- Privately held U.S. HealthWorks, the nation's second largest operator of outpatient occupational health and urgent
care centers, has been acquired effective today by a new ownership group that includes AIG Altaris Health Partners,
Dynamic Healthcare Solutions, Salix Ventures and Three Arch Partners. The transaction was valued at approximately
$185 million.
Dynamic Healthcare Solutions, a management consulting and investment firm, has been managing U.S. HealthWorks through
its principal, Daniel D. Crowley, since October 2003. Mr. Crowley will serve as Chairman, Chief Executive Officer
and President of U.S. HealthWorks.
Three Arch Partners and Salix Ventures have maintained investments in U.S. HealthWorks since 2001. AIG Altaris
Health Partners and Dynamic Healthcare Solutions are new U.S. HealthWorks owners, replacing BA Venture Partners
and Richland Ventures in the ownership group.
"The composition of the new ownership group reflects a high degree of confidence in U.S. HealthWorks,"
said Mr. Crowley. "The Company fills an important role in keeping American businesses and workers productive
and competitive by helping them to reduce the incidence of workplace injuries and providing the right care right
away when injuries do occur, reducing overall costs."
Mr. Crowley added: "The continuity of leadership and ownership at U.S. HealthWorks means we will continue
to focus on high quality care and service, working closely with our customers to expand our operations in attractive
markets where they have unmet needs."
Silver Point Finance, LLC underwrote and leads the financing. CIT Healthcare LLC and General Electric Capital Corporation
also provided financing for the transaction as co-lead arrangers. Needham & Company, LLC advised the U.S.
HealthWorks Board of Directors.
U.S. HealthWorks is the largest operator of outpatient occupational healthcare centers in California, where the
Company generates approximately half of its business. U.S. HealthWorks is reviewing options for relocating its
headquarters to California, while maintaining a regional operations center in Alpharetta.
U.S. HealthWorks was founded in 1995 and is a leading national operator of occupational health and urgent care
centers specializing in injury care, early return-to-work programs, injury prevention and wellness programs. Operating
113 medical centers in 13 states with more than 2,000 employees and approximately 350 affiliated physicians, U.S.
HealthWorks centers serve more than 10,000 patients each day. For more information, visit www.ushealthworks.com.
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