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For Immediate Release

Kenneth Kaufman Joins Advanced Reimbursement Management’s Board of Directors

Phoenix, AZ, February 2010–Advanced Reimbursement Management (“Advanced Reimbursement”) is pleased to announce the election of Kenneth Kaufman to the company’s Board of Directors. “We are thrilled with the addition of Ken to our Board,” said Connie Perez, CEO of Advanced Reimbursement. “His outstanding leadership and financial expertise in the healthcare industry will be a tremendous asset as we work to become a national leader in Medicaid-focused revenue cycle management.”

Mr. Kaufman is one of the nation’s leading authorities in healthcare, providing strategic counsel and guidance to healthcare organizations throughout the country. He is recognized as an expert in all aspects of capital advisory services, including capital allocation, strategic planning and mergers and acquisitions. Mr. Kaufman co-founded and serves as Managing Partner of Kaufman, Hall & Associates, one of the nation’s most respected independent strategic financial and capital consultancy firms. “I look forward to assisting Advanced Reimbursement fulfill its mission to improve the financial outcomes of its hospital clients,” said Kaufman.

Mr. Kaufman has presented more than 300 programs to audiences throughout the country, including seminars sponsored by the American College of Healthcare Executives (ACHE) and the American Hospital Association (AHA). He is the author of numerous books, including most recently Focus on Finance: 10 Critical Issues for Hospital Leadership. Mr. Kaufman holds a Masters in Business Administration with a concentration in Hospital Administration from the University of Chicago Booth School of Business.

About Advanced Reimbursement Management
Headquartered in Arizona, Advanced Reimbursement is a leading provider of revenue cycle management services focused on Medicaid receivables. Advanced Reimbursement provides a suite of services to its clients, including eligibility services, receivables management, post-payment review, denials management and clinical auditing. Advanced Reimbursement was purchased by Waud Capital Partners in August 2008.

For additional information on Advanced Reimbursement, visit the Company’s website at www.advancedreimbursement.com.

About Waud Capital Partners
Waud Capital Partners is a private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle market growth equity investments, buyouts, industry consolidations and recapitalizations. The firm seeks to invest $10 million to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and value-added industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.

For additional information on Waud Capital Partners, visit the firm’s website at www.waudcapital.com.

For Further Information:
Connie Perez
Advanced Reimbursement Management
Tel: (602) 744-0156

For Further Information:
David Neighbours, Partner
Waud Capital Partners
300 North LaSalle Street, Suite 4900
Chicago, IL 60654
Tel: (312) 676-8400

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