RoundTable Healthcare Partners Makes Additional Equity Investment in MedAssist

MedAssist Holding, Inc. Makes Strategic Acquisition of Argent Healthcare Financial Services

LAKE FOREST, IL, November 8, 2004 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced that it has made an incremental equity investment in its portfolio company MedAssist Holding, Inc. to support the strategic acquisition of Argent Healthcare Financial Services, Inc. (“Argent HFS”). The financial terms of the Argent HFS acquisition and the RoundTable equity investment were not disclosed.

MedAssist and Argent HFS are both leading providers of outsourced revenue cycle management services to the healthcare industry. The companies have three primary lines of business:

• Patient Eligibility Services: assists uninsured patients in qualifying for federal, state, and private health insurance programs, directly enabling hospitals to collect payment for services which they might otherwise remain uncompensated
• Outsourced Receivables Management: offers highly customized receivable management service to healthcare providers ranging from project work to ongoing management of all non-delinquent receivables.
• Collections: provides contingent collections of self-pay and third-party receivables and early stage delinquency collections.

“ Argent HFS is a highly complementary, strategic acquisition for MedAssist,” said Joseph F. Damico, a Founding Partner of RoundTable and Chairman of the Board of MedAssist. “Argent HFS expands MedAssist’s geographic scope and scale, and extends MedAssist’s leadership position in the healthcare revenue cycle management industry.”

“ This is an exciting transaction for MedAssist, “ said Michael A. Shea, Chief Executive Officer and Founder of MedAssist. “The addition of Argent HFS is a positive development for the employees and customers of both Argent HFS and MedAssist, as we continue to build an industry-leading company with additional resources, geographic reach, products, and customer service.”

Mr. Shea added, “RoundTable has been instrumental in supporting MedAssist’s plans and growth strategy. They were responsible for sourcing and facilitating this acquisition, as well as advising MedAssist on the transaction.”

As part of the transaction and to finance further growth opportunities for MedAssist, RoundTable facilitated an amendment to MedAssist’s senior credit facilities. The senior credit facilities were led by Antares Capital Corporation, with GE Healthcare Financial Services and National City Bank as co-documentation agents and participants in the facility. Additionally, all existing MedAssist shareholders and warrant holders subscribed for new equity, the proceeds of which were used to fund a portion of the acquisition. RoundTable also advised MedAssist on this transaction.

RoundTable’s investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm’s operating and transaction principals. MedAssist is one of the six platform investments that RoundTable has made since the firm’s formation in 2001.

In addition to MedAssist, the other companies in the RoundTable portfolio include:

• Argon Medical Devices, Inc., a leading manufacturer and supplier of vascular products,
• American Medical Instruments, Inc., a manufacturer and supplier of specialty medical devices,
• Vanguard Medical Concepts, Inc., the nation’s leading medical device reprocessor,
• Excelsior Medical Corporation, a leading manufacturer of pre-filled flush syringes and syringe pump systems.

Sabex Holdings Ltd., RoundTable’s second platform investment, was sold earlier this year to Sandoz for $565 million. Sabex is a leading Canadian manufacturer and distributor of generic injectable pharmaceuticals. Sandoz is the global generics business of Novartis AG.

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively 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 and its investments can be found at www.roundtablehp.com.