RoundTable Healthcare Partners Acquires Sabex, Inc.

Acquisition Provides RoundTable a Platform in Specialty, Injectable Pharmaceuticals

Lake Forest, Ill., April 22, 2002 —RoundTable Healthcare Partners, L.P. (“RoundTable”), an operating-oriented private equity firm focused on the healthcare industry, announced today that it has acquired a majority stake in Sabex, Inc. (“Sabex”). Sabex is the leading generic, injectable pharmaceutical manufacturer in Canada. Jack McGinley, founding partner of RoundTable, will serve as Chairman of the Board of Sabex. Michel Saucier, President of Sabex, will retain a substantial ownership stake in the company and serve as Sabex’s Chief Executive Officer and Vice Chairman.

“Our new partnership with RoundTable presents very exciting opportunities for Sabex,” said Michel Saucier. “RoundTable brings proven healthcare operational expertise to assist in the successful implementation of Sabex’s global strategies. RoundTable has long-standing industry relationships and is facilitating major new investments in the company. Their support and guidance will allow Sabex, a strong Canadian company, to expand globally at an accelerated rate.”

“We are very excited to partner with Sabex,” said Jack McGinley. “Sabex has a tremendous track record of success. The entire management team and employees were key attractions for us. We view Sabex’s Québec-based operations as an ideal platform to build a leading, global specialty pharmaceuticals company.”

As part of the transaction and to finance further growth opportunities, Sabex successfully completed new senior credit facilities and a private placement of subordinated notes. The senior credit facilities were led by GE Capital Healthcare Financial Services with JPMorgan Chase Bank as documentation agent and National City Bank and National Bank of Canada as participants in the facilities. Sabex’s subordinated notes were issued to Massachusetts Mutual Life Insurance Company, National City Equity Partners and Banc One Mezzanine Corporation. Other financial terms of the transaction were not disclosed.

Sabex Inc. is a leading manufacturer and distributor of generic injectable pharmaceuticals. Formed in 1980, Sabex develops, manufactures and distributes generic small volume injectables, ophthalmics, suppositories, and other pharmaceutical products in Canada, the U.S. and other international markets. Sabex’s FDA-approved manufacturing facilities produce generic drugs in many critical specialty product categories, including cardiovascular, analgesics, psychotherapeutics, anti-infectives and parenteral nutrition.

RoundTable Healthcare Partners, Lake Forest, Ill, is an operating-oriented private equity firm focused on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.

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Betty Rasbid
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