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

Based in Tampa, Florida, HealthPlan Holdings is a leading third-party administrator for fully insured benefit plans serving the individual and small to mid-sized employer group marketplace, providing distribution, sales support, administration (i.e., billing, member services and claims), and technology outsourcing solutions to healthcare providers such as health maintenance organizations and insurance companies.. HealthPlan is also one of the largest U.S. administrators of employee benefit plans for unionized workforces. In all, HealthPlan administers over 1.6 million members.

Anthony G. Polazzi, Vice President, Sun Capital Partners, Inc., said, “We would like to thank Jeff Bak and his management team for an outstanding job and for their contribution to the success of our leveraged buyout funds. We wish them every success with Water Street.”

Jeff Bak, President and CEO, HealthPlan Holdings, Inc., added, “We are excited to be joining forces with Water Street, a great partner for both our clients and employees, and are confident that their experience with middle market companies and their focus on the healthcare industry will be invaluable as we build our business in new and existing markets.”
About Water Street Healthcare Partners
Water Street Healthcare Partners is a leading private equity firm focused exclusively on health care. With more than $1 billion of capital under management, Water Street is one of the most active investors in the health care industry. The firm has a strong track record of building market-leadership companies across key growth sectors in health care. It has partnered with some of the world’s leading health care companies on its investments, including: Gentiva Health Services, Inc., Johnson & Johnson, Medtronic and Smith & Nephew. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.
About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 200 companies worldwide with combined sales in excess of $40.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Tokyo, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.

For more information, please contact:

Anthony G. Polazzi
Vice President
Sun Capital Partners, Inc.
(310) 473-1116