RoundTable Healthcare Partners Acquires CorePharma LLC

Acquisition Provides RoundTable a New Platform Investment in Generic Pharmaceuticals

LAKE FOREST, IL, August 4, 2005 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it has acquired a majority interest in CorePharma LLC (“CorePharma”).  CorePharma, based in Middlesex, New Jersey, is a leading developer and manufacturer of solid dose generic pharmaceuticals.  The CorePharma management team will retain a substantial ownership stake in the company and will continue to help lead the management of the organization.  Financial terms of the transaction were not disclosed.

“We are very excited to partner with CorePharma,” said Jack L. McGinley, a Founding Partner of RoundTable and new Chairman of CorePharma.  “CorePharma has developed and launched a broad, diversified portfolio of generic pharmaceutical products.  This company also has a large and highly impressive pipeline of new products in various stages of development, and is undergoing tremendous growth.  We have been impressed with CorePharma’s management team and employees; they have a terrific track record of development, innovation, execution, and customer service.  We look forward to working with them.”

“RoundTable is a perfect partner for CorePharma,” said Dr. Dhaduk, a founder and the current President of CorePharma.  “RoundTable’s extensive background in the generic pharmaceuticals industry along with their strategic insight will be extremely valuable to CorePharma as we continue to execute our growth strategy.  We also believe that RoundTable will be able to help accelerate CorePharma’s growth through their operational, strategic, sales, and marketing experience, as well as through their relationships with key players in the healthcare industry.  We will benefit significantly from their guidance and expertise.”

As part of the transaction, and to finance further growth opportunities for CorePharma, RoundTable facilitated the successful completion of new senior credit facilities and a private placement of senior subordinated notes.  The senior credit facilities were led by GE Commercial Finance Healthcare Financial Services, and included National City Bank and LaSalle Bank.  CorePharma’s senior subordinated notes were issued to investors including Babson Capital Management and National City Equity Partners.

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.  CorePharma is RoundTable’s seventh platform investment and the first in the firm’s second private equity fund (“Fund II”), which raised $500 million in capital and which closed in March 2005.

RoundTable’s earlier platform investments from Fund I include:

• ACI Medical Devices, Inc., a leading specialty medical device manufacturer, including vascular, women’s health, urology, and gastroenterology products.  Argon Medical Devices acquired Clinical Innovations, Inc. to form ACI Medical Devices,
• American Medical Instruments Holdings, Inc., a manufacturer and supplier of specialty medical devices,
• Excelsior Medical Corporation,a leading manufacturer of pre-filled flush syringes and syringe pump systems,
• MedAssist, Inc., a leading outsourced provider of patient eligibility, accounts receivable management and collections services to acute care hospitals throughout the United States,
• Sabex Ltd., a leading Canadian manufacturer and distributor of generic injectable pharmaceuticals which was sold to Sandoz, the global generics business of Novartis AG, and
• Vanguard Medical Concepts, Inc., the nation’s leading medical device reprocessor.

“We are very pleased to make our first investment from Fund II,” said Lester B. Knight, a Founding Partner of RoundTable.  “The CorePharma investment is another example of RoundTable’s core strategy of partnering with strong companies in one of our targeted healthcare sectors.  We will now work to leverage our operational, transactional, and industry expertise, in partnership with CorePharma’s management, to maximize the company’s growth and profitability.”

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.  RoundTable currently manages two equity funds totaling $900 million in capital. More information about RoundTable Healthcare Partners and its investments can be found at www.roundtablehp.com.

Media Contact:
Betty Rasbid
847-739-3200