June 4, 2008 -- Galen Partners and Trident Capital are pleased to announce the completed sale of portfolio company Chamberlin, Edmonds & Associates, Inc. ("CEA") to an investment group led by Charterhouse Group. The transaction closed on Friday, May 30, 2008. Chamberlin, Edmonds & Associates provides revenue recovery specialized eligibility services to hospitals, governments and managed health care organizations nationwide. On behalf of its clients, CEA serves as a patient advocate, helping disabled, indigent, under-insured and uninsured patients navigate the often complex application processes necessary to obtain federal, state, and local benefits, including Social Security disability benefits, Medicare, Medicaid, Crime Victims' compensation and charity care.
CEA Founder Judy Starkey commented, "Five and a half years ago I brought in Galen and Trident as partners to help me grow the business and realize my vision for it. I could not be happier with the help and sense of partnership they brought to the company."
CEA President and CEO, Ulrich Brechbuhl, said, "We have had a strong partnership with Galen and Trident since 2002, working together to grow CEA into one of the leading patient eligibility services companies in the U.S. This transaction provides CEA with a strong financial partner and we look forward to continuing our success with the Charterhouse Group." "We appreciate the hard work of the senior management team and are proud of our role in helping the company achieve its market leadership status," said David W. Jahns, Managing Director of Galen and CEA Board Member. "CEA is an industry leader in delivering critical financial services to its hospital customers with the highest quality and greatest financial impact. Trident is pleased to have worked with such an experienced and dedicated team," said John Moragne, Managing Director of Trident Capital. Robert W. Baird & Co. (www.rwbaird.com) acted as financial advisor to Chamberlin, Edmonds & Associates on the transaction. Powell Goldstein, LLP (www.pogolaw.com) provided legal counsel. About Galen Partners (www.galen.com)
Galen Partners is a leading healthcare growth equity, late stage venture capital firm based in Stamford, Connecticut. Since 1990, Galen has built an investment portfolio with an aggregate market value of over $10 billion and helped 70 companies navigate through the complicated paths of public offerings, debt financings, and mergers and acquisitions. As such, over the past decade Galen has gained recognition as one of the largest and most influential names in healthcare private equity investing. About Trident Capital (www.tridentcap.com)
Trident Capital is a leading growth-oriented private equity firm committed to empowering entrepreneurs to build innovative and industry leading businesses. Founded in 1993, the firm manages over $1.6 billion of capital in a focused effort to develop world class information services and software business. Our team has invested in more than 100 companies since inception, including market leaders such as Resolution Health, CSG Systems, Mapquest and iRobot.
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