Tampa, Fla. – (July 8, 2008) –
Lovett Miller & Co. portfolio company, MED3OOO Group, Inc.
(MED3OOO), a national leader in healthcare management and technology products and services for providers and employers, has entered into a partnership arrangement with Mitsui & Co. (USA), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd. (Mitsui). The agreement with Mitsui will provide MED3OOO with opportunities to expand its vision of being a global “premier strategic operations partner” for those involved in the delivery and financing of healthcare. With this business arrangement, Mitsui will gain a minority ownership position in MED3OOO. In addition, both companies will develop an executive exchange program in order to share information, develop global healthcare strategies to improve the health of populations, and make additional investments within and outside the United States for expanding product and service offerings.
MED3OOO has made significant investments in providing advanced products and services focused on improvement in the quality and cost of healthcare in the United States,” said Patrick V. Hampson, Chairman and CEO of MED3OOO. “Our partnership with Mitsui combines MED3OOO’s experience in healthcare technologies and services with the global reach of Mitsui in countries that may benefit from our ability to improve healthcare delivery. MED3OOO and Mitsui share a unique culture in our desire, not only to expand our mutual businesses, but to do so in a manner that is focused on improving clinical outcomes. Healthcare is a significant part of the global economy. As a Global 150 Company, Mitsui can certainly enhance our abilities and opportunities toward reaching our vision.”
Mr. W. Scott Miller, Co-founder and Managing Partner of Lovett Miller & Co., will continue to serve on the Board of Directors of MED3OOO. “We have been pleased with the leadership and results of MED3OOO and remain very optimistic about the company’s future,” said Mr. Miller. Lovett Miller's investment in MED3OOO is representative of its strategy to provide growth capital for technology-enhanced service companies and healthcare firms.
About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States with a particular emphasis on technology-enhanced service companies and healthcare firms. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information, visit www.lovettmiller.com
MED3OOO, a leader in healthcare management services, information management, and technologies, advances the quality and performance of healthcare delivery for providers and payors across the United States. Focused on the provision of evidence-based management and population health management, MED3OOO empowers over 15,000 physician, hospital, employer, health system, and municipal clients across the United States. For more information, please visit www.MED3000.com
or contact Karla Sartori, MED3OOO Corporate Marketing, at 412-937-8887 or Karla_Sartori@MED3000.com