For Immediate Release

Regency Hospital Company Acquires 92-Bed Hospital in Minneapolis, Minnesota

Minneapolis, Minnesota, September 23, 2004–Regency Hospital Company today announced the purchase of Valley Hospital located in Minneapolis, Minnesota. The 92-bed Long Term Acute Care (LTAC) hospital was formerly owned by Kindred Healthcare. Regency Hospital of Minneapolis will treat medically complex patients who have suffered recent catastrophic illness or injury and require an extended length of stay in an acute care environment.

“We are delighted to be in the Minneapolis community,” commented Rod Laughlin, President and CEO of Regency Hospital Company. “There is a definite need for this level of care in the area. Regency is committed to meeting that need, and to giving people their lives back,” he continued.

Mr. Doug Beardsley has been appointed Chief Executive Officer of Regency Hospital of Minneapolis. “Doug Beardsley is an excellent choice for Regency Hospital of Minneapolis. His experience in hospital operations, coupled with his knowledge of the Minneapolis healthcare marketplace make an excellent fit,” stated Mr. Laughlin.

Regency’s focus is on caring for the sickest patients, many of whom are ventilator dependent, have multiple medical issues and need ICU level care with therapy. Regency’s success rates are the highest in the LTAC industry. “Our patients often come to our hospital thinking they may never go home, but end up walking out and going home to be with their families.” stated Laughlin

Regency Hospital Company is a national network of Long Term Acute Care (LTAC) hospitals throughout the United States. For more information on Regency Hospital Company, please visit

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

For more information contact:
Rod Laughlin,
President & CEO
Regency Hospital Company
30000 Mill Creek Avenue, Suite 250
Alpharetta, GA 30022

Reeve Waud, Founder and Managing Partner
Waud Capital Partners, L.L.C.
560 Oakwood Avenue, Suite 203
Lake Forest, IL 60045