FOR IMMEDIATE RELEASE

 

CONTACT:

Diane Daych

CCP Equity Partners

(860) 761-8208

 

 

ARM HOLDINGS ANNOUNCES PRIVATE EQUITY FUNDING

AND CLOSE OF TWO ACQUISITIONS

 

 

Reading, Pennsylvania -- February 13, 2006 –ARM Holdings, Inc. (“ARM”), a company formed to acquire and develop revenue cycle management services that focus primarily on healthcare providers, has acquired Accounts Recovery Bureau (“ARB”), a well-know national collection agency, and Associated Credit Systems (“ACS”), together known as The Landau Group. CCP Equity Partners (“CCP”) and SightLine Partners led the financing, which also included Quilvest Private Equity. Financial details were not disclosed.

 

Bruce Colburn, CEO of ARM, said, “For over 30 years, The Landau Group has been providing its customers with business processing outsourcing, collections and information technology services.  The company and its management team have developed proprietary processes and systems that have produced strong growth and a solid customer base of primarily healthcare providers, in addition to a growing number of municipal customers.  We plan to continue the company’s high growth through the expansion of sales and marketing efforts and by making additional opportunistic acquisitions.” 

 

Also commenting on the transaction, Michael Aspinwall, Managing Partner of CCP said, “We are delighted to partner with Bruce and his management team.  They possess a strong track record of high customer satisfaction, delivering proven bottom-line results for their clients.  We look forward to helping the team expand their service lines and footprint in this dynamic industry.”

 

Ken Higgins, Managing Director of SightLine added: “We believe that ARM is extremely well positioned in the market as more healthcare providers look for outsourced solutions to assist with the increased complexity of medical billings and insurance coverage.”

 

The Landau Group employs 125 people in its Wyomissing office, just outside of Reading, Pennsylvania.  Target customers include large multi-hospital healthcare systems, community hospitals and physician practice groups.  Management intends to expand operations in the city of Reading as its business grows.

 

In connection with the transaction, Messrs Aspinwall, Higgins and Colburn have joined ARM’s board of directors, along with John Clinton, a Managing Partner at CCP, and Howard Rimerman, an Advisory Partner at Quilvest.  Capital Source provided debt financing for the transaction.

 

About CCP Equity Partners

CCP Equity Partners (“CCP”), formerly Conning Capital Partners, is a leading private equity firm providing growth capital to innovative financial services and healthcare services companies.  In partnership with proven management teams, CCP shapes strategy by leveraging its operating skills, deep industry experience and extensive networks to drive value and accelerate growth.  CCP currently manages more than $500 million and offers scalable financial solutions.  For more information, go to www.ccpequitypartners.com.

 

About SightLine Partners

SightLine Partners invests in innovative, emerging growth companies in the medical technology, biotechnology and healthcare services sectors of the healthcare industry.  SightLine provides value-added assistance to support the growth of its portfolio companies into market leaders.  The team currently manages four healthcare funds that have collectively invested in over 70 companies since 1992.  For more information, please visit www.sightlinepartners.com.

 

About Quilvest

The Quilvest Group is a global financial group with two core activities: private equity investments and wealth/asset management. In the area of private equity, Quilvest invests in funds as well as in direct investments, mostly in Europe and the United States. Through Banque Privée Quilvest in Paris and Société Internationale de Finance in Zurich, Quilvest offers attractive solutions in wealth/asset management. For further information about Quilvest, visit www.quilvest.com.  

 

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