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WATER STREET HEALTHCARE PARTNERS ACQUIRES HEALTHPLAN HOLDINGS, INC.

CHICAGO – October 1, 2008 – Water Street Healthcare Partners, a leading private equity firm focused exclusively on the health care industry, announced today that it has acquired HealthPlan Holdings, Inc. (“HealthPlan”).

AN AFFILIATE OF SUN CAPITAL PARTNERS, INC.SELLS HEALTHPLAN HOLDINGS

BOCA RATON, FLA (October 1, 2008) - Sun Capital Partners, Inc., a private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliated portfolio companies, HealthPlan Holdings, Inc. (“HealthPlan”), has been sold to Water Street Healthcare Partners (“Water Street”), a leading private equity firm focused exclusively on the health care industry. Terms of the sale were not disclosed.

HEALTHPLAN HOLDINGS COMPLETES SALE OF MONTGOMERY MANAGEMENT TO COMPANION LIFE INSURANCE CO.

TAMPA, FL - November 9, 2007- HealthPlan Holdings, Inc. (“HealthPlan”) today announced that it has completed the sale of its subsidiary, Montgomery Management Corporation (“MMC”) to Companion Life Insurance Co., which specializes in Group Insurance and Voluntary Group Insurance products for Employer Groups.


As the nation's largest independent Third Party Administrator, HealthPlan Holdings offers an ever-expanding array of services to a diverse and growing client base, including many Fortune 500 companies.

In 2007, the companies of HealthPlan Holdings assisted over 1.7 million consumers with their employee benefit administration by successfully processing 5 million insurance claims, handling over 14 million website transactions, answering 6 million phone calls and supporting over 25,0000 insurance agents. Our proprietary, state-of-the art technology infrastructure is capable of managing the entire administration of an insurance encounter, from quoting to claims adjudication to multi-carrier billing. We are geared to do much more. Our flexible and scalable IT platform has been designed to not only grow with our existing clients, but also to pursue new opportunities beyond our current offerings.

The fully integrated companies of HealthPlan Holdings include:

  • HealthPlan Services, founded in 1970, the nation's largest provider of third party administrative services to the small business, individual and voluntary market
  • American Benefit Plan Administrators, founded in 1951, the nation's third largest provider of administrative services to multi-employer union trusts.

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