For Immediate Release

Regency Hospital Opens In Northwest Indiana

Atlanta, Georgia, July 20, 2003–Regency Hospital Company today announced the opening of its newest hospital, Regency Hospital of Northwest Indiana, located in East Chicago, Indiana. Regency Hospital, a 38-bed hospital located within St. Catherine Hospital, is a long-term acute care (LTAC) hospital that treats medically complex patients who have suffered recent catastrophic illness or injury and require an extended length of stay, typically longer than 25 days, in an acute care environment.

“We are delighted to be working with St. Catherine Hospital. They are part of the Community Healthcare System and we are honored to have a relationship with them,” commented Rod Laughlin, President and CEO of Regency Hospital Company. St. Catherine Hospital Administrator Jo Ann Birdzell says she is pleased about the new development. “Regency Hospital brings to Northwest Indiana and the south suburban Chicago communities an important service that will help local residents stay close to loved ones in need of long-term acute care,” Birdzell said. “By providing ancillary and other support service to this “hospital within a hospital,” we are helping to ensure that our communities have access to the finest care available.”

Regency Hospital Company has appointed Mr. David Berkey as Chief Executive Officer of the hospital. “David Berkey is an excellent choice for Regency Hospital of Northwest Indiana. His vast healthcare experience coupled with his knowledge of the healthcare marketplace make him an excellent fit for this market,” stated Mr. Laughlin. “Mr. Berkey is highly experienced in Business Development and Physician Relations and will guide the hospital in creating an outstanding clinical LTAC program,” he continued.

Regency hospitals provide specialized treatment for chronically ill acute level patients whose severity of illness requires that they receive acute level care for an extended period of time. Many of these patients have complex medical conditions and may require life support. Regency is a leading developer and operator of long-term acute care (LTAC) hospitals in the United States. The Company collaborates with medical surgical hospitals to operate separately licensed LTAC hospitals within their facilities providing high quality solutions for the hospital’s medically complex patients. More information about Regency is available at www.regencyhospital.com or www.ltac.com

Regency was formed by Waud Capital Partners, L.L.C. and management to develop and operate LTACs throughout the United States. Founded in 1993, Waud Capital Partners, L.L.C. is a private equity investment firm that partners with management to acquire or develop outstanding middle market businesses. WCP invests in a broad range of companies and industries with strong growth characteristics. More information about the firm can be found at www.waudcapital.com.

For more information contact:
Rod Laughlin,
President & CEO
Regency Hospital Company
3159 Royal Drive, Suite 320
Alpharetta, GA 30022
770-772-4345
rlaughlin@regencyhospital.com
www.regencyhospital.com

Reeve Waud, Founder and Managing Partner
Waud Capital Partners, L.L.C.
560 Oakwood Avenue, Suite 203
Lake Forest, IL 60045
847-604-9550
rwaud@waudcapital.com
www.waudcapital.com

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