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Diversified Clinical Services and Wound Care Centers, Inc. Announce Common Ownership

Posted on: Tuesday, 5 December 2006, 15:02 CST

JACKSONVILLE, Fla., Dec. 5 /PRNewswire/ -- Jim Henry, Chief Executive Officer of Diversified Clinical Services, and Roy McKinley, President of Wound Care Centers, Inc. (formerly Curative), announce that the nation's two leading wound care management companies will be under common ownership of WCS Clinics, Inc. This consolidation is being funded by private equity firms, The Jordan Company, LP, Edgewater Capital, and Bolder Capital, and their respective affiliates. This investor group began investing in the growing wound care industry in 2005.

On a combined basis Diversified Clinical Services and Wound Care Centers have a leading industry position with more than 260 hospital contracts covering 40 states. As a result of the transaction, the companies will have in excess of 700 employees nationwide. The management teams of both companies will remain in place following the closing of the transaction.

"This transaction will unite two talented groups of employees, an unparalleled wound care database, and the opportunity to forge a new level of wound care management," says Henry. "It will uniquely position us to better serve more patients, consolidate best clinical practices, and bring enhanced value to our hospital partners."

Both companies contract with hospitals to establish and manage comprehensive wound care programs, providing top clinical expertise, research, data systems, and experienced staff to treat the growing number of patients who have problem, non-healing wounds as the result of diabetes, pressure ulcers, vascular insufficiency, radiation injury, and other conditions. It is estimated that there are more than 7 million people in the country in need of such services. Along with the rapidly increasing incidence of diabetes and the aging population, the demand for hospital-based wound care is growing dramatically.

Adds Henry, "We see significant opportunities to substantially contribute to future advancements in our field, including research and knowledge gathered from an expanded wound care database, and the training of a growing number of physicians and nurses who wish to make this specialty their primary practice. This transaction signals the commitment of Diversified Clinical Services and Wound Care Centers, Inc. to redefining wound care."

"There is great synergy between the two companies," explains McKinley, "the result of which is the exciting opportunity to continue achieving our primary goal of helping patients to heal and resume normal lives across the continuum of care."

About Diversified Clinical Services

Diversified Clinical Services manages comprehensive wound care centers at more than 160 contracted hospitals in 36 states nationwide, allowing hospitals to provide a needed, value-added service to a growing patient population. Diversified Clinical Services plans, develops and manages the wound care centers, providing key staff, equipment, implementation guidelines, operating procedures, clinical algorithms, outcomes data tracking systems, education and training, community education, and billing and coding support. Diversified Clinical Services is headquartered in Jacksonville, Florida. More information is available at http://www.diversifiedclinicalservices.com/.

About Wound Care Centers, Inc.

Wound Care Centers, Inc. (formerly Curative) pioneered the wound care management services industry, establishing its first hospital program in 1988. For nearly 20 years, the company has operated their successful Wound Care Center(R) programs producing superior healing outcomes. There are more than 100 Wound Care Center affiliated programs located throughout the United States and Puerto Rico. For more information, visit http://www.wccs.com/.

About The Jordan Company, LP

The Jordan Company, L.P. ("TJC") is a private investment firm that specializes in buying and building businesses in partnership with management. Since 1974, partners of TJC have successfully completed more than 300 acquisitions. Today, TJC has a portfolio of companies with aggregate revenues in excess of $4.0 billion. With over $2.5 billion in capital in affiliated funds, partnerships and portfolio companies, the firm is anchored by the $1.5 billion Resolute Fund, L.P. TJC transactions provide liquidity for owners, raise capital for corporate growth and create significant equity opportunities for key management.

About The Edgewater Funds

Edgewater Funds is a premier private equity firm based in Chicago, Illinois with over $1 billion in capital under management. Through Edgewater Growth Capital Partners, the firm provides capital and experience to outstanding growth companies. Edgewater Growth Capital Partners' investment strategy focuses on funding profitable middle market companies where we can add substantial value through our capital, our experience and our broad network. What truly sets Edgewater apart is the wealth of experience that its team brings to investments. Edgewater's Partners have been successful CEOs and business leaders themselves, collectively having created more than $10 billion in shareholder value.

About Bolder Capital

Bolder Capital is a private investment firm established to find and invest in middle market companies for long-term value creation. Bolder primarily co- invests with JZ Equity Partners and The Edgewater Funds (the "Co-Investors") and works closely with these funds or their advisors to find appropriate investments. Bolder Capital, the Co-Investors and their advisors bring over 50 years of combined investment experience and substantial financial resources in excess of $1.0 billion in capital. In addition, the Co-Investors and their advisors have extensive operating experience in a broad range of industries, having acquired or funded more than 400 companies.

Diversified Clinical Services

CONTACT: Donna Pisacano of Burdette Ketchum, +1-904-645-6200, ordpisacano@burdetteketchum.com, for Diversified Clinical Services

Web site: http://www.diversifiedclinicalservices.com/http://www.wccs.com/

Source: PRNewswire

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