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Health Dialog and BUPA to Join Forces

December 18, 2007

Health Dialog, a leader in the growing care management sector, announced today that BUPA, its largest shareholder, will purchase for cash the equity in the company it does not already own. BUPA is a global provider of healthcare services and the largest private health insurer in the United Kingdom. The transaction values Health Dialog at $775 million.

“Being a part of BUPA will permit us to accelerate our growth,” said George Bennett, Chairman and CEO of Health Dialog. “There is increasing recognition that providing support to individuals during the time they are not in a physician’s office or a hospital is critical to managing population health. BUPA is committed to expanding its leadership role in the rapidly evolving whole person/whole population care management industry. We think that makes BUPA an ideal partner for us as we pursue our mission in the US, and will help us expand our impact abroad.”

BUPA was founded in 1947 in the UK. As a provident association, BUPA does not have shareholders and reinvests its surplus in health-related enterprises. It has grown globally to annual revenues in excess of $8 billion.

“Health Dialog will be a significant addition to our portfolio of companies,” said Val Gooding, Chief Executive of BUPA. “The firm is a recognized leader in the growing field of care management and we are confident that its skill base, combined with ours, will make it possible for us to accelerate the growth of Health Dialog’s business. Health Dialog has a long list of impressive clients and we expect the core focus to remain on these key US customers.”

Health Dialog began operating in 1997 with BUPA as one of its first investors. The new relationship will strengthen Health Dialog’s current client offerings and give BUPA more direct access to Health Dialog’s content, analytics, and IT.

“BUPA has long been a supporter of informed patient choice through the development of a better understanding of shared decision-making and other approaches that bring patients and clinicians together in more effective partnerships,” said Albert G. Mulley, MD, co-founder and Senior Medical Advisor for the Foundation for Informed Medical Decision Making, Health Dialog’s not-for-profit partner. “This expanded partnership will bring new resources and energy to the mission of assuring that patients everywhere get the care they need and no less, and the care they want and no more.”

Goldman Sachs acted as exclusive financial advisor to Health Dialog in connection with this transaction.

About Health Dialog

Health Dialog is a leading provider of care management services, including disease management, and is one of the fastest growing privately held firms in the U.S. The firm helps physician groups, health plans, and self-insured employers improve healthcare quality while reducing overall costs. The firm’s services include analytic services and telephonic, online, and other care management support for individuals, payers, and physicians. Health Dialog focuses on helping individuals become more actively engaged in the management of their health and healthcare and on having more effective relationships with their physicians. For more information about Health Dialog, please visit their website www.healthdialog.com.

About BUPA

BUPA, headquartered in London, is a provider of private healthcare related services in the UK, and, through a variety of subsidiaries, is a provider of various healthcare services in other countries. BUPA’s worldwide operations serve more than seven million customers. For more information about BUPA, please visit their website www.bupa.co.uk.

Please contact Trish Tarantino, Health Dialog at ttarantino@healthdialog.com or at 617-406-5200 with any questions.




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