E4 Health Acquires People Resources, Inc. and Student Resource Services, LLC
September 12, 2013

New York, NY
- Kinderhook Industries, LLC and Mansa Capital, LLC announced today the acquisition of People Resources, Inc. and Student Resource Services, LLC (collectively referred to as “PRI” or the “Company”) by E4 Health, Inc., a Kinderhook and Mansa portfolio company. The deal represents the 16th and 13th healthcare services transactions completed by Kinderhook and Mansa, respectively, and the second add-on acquisition for E4 Health. Financial terms of the transaction were not disclosed.

Based in Dallas, Texas, E4 Health is a leading provider of employee assistance programs (EAP) and behavioral health risk management programs. E4 Health provides a full range of total health management solutions on a single integrated platform – E4HealthMap – delivering best-in-class EAP, behavioral health, and wellness services.

Headquartered in St. Louis, Missouri, PRI is a leading provider of employee assistance programs, managed mental health services, and university student coaching and counseling services. The Company operates two divisions, People Resources, which provides employee assistance and managed mental health services, and Student Resource Services, which provides student counseling and coaching services to colleges and universities.

“The acquisition of PRI is highly strategic,” said Bill Mulcahy, CEO of E4 Health, “PRI’s reputation as a market leader is firmly grounded in their approach which integrates employee assistance and managed behavioral health services into a unique employee-advocate model that targets improved outcomes. Over the last 30 years, Janet Mug has built a fantastic business with a diverse service platform and stellar reputation.”

“E4 Health and PRI fit perfectly together,” said Cindy Sheriff, President of E4 Health. “Our commitment to set industry standards for EAP and wellness delivery through the systematic creation of efficiencies, improved outcomes, and lower healthcare costs aligns well with PRI’s culture and history of positive employee outcomes. We also look forward to leveraging PRI’s strength and expertise in the student assistance market which represents a new service platform for E4 Health.”

Chris Michalik, Managing Director of Kinderhook Industries, stated that, “We are very excited about the acquisition of the Company. This acquisition will further expand our service offerings into the university sector with the addition of Student Resource Services. The Company’s longstanding customer relationships and superior service offering make this acquisition very accretive for E4 Health.”

Ruben King-Shaw, Jr., Managing Director of Mansa Capital, stated that, “We are very pleased this add-on acquisition aligns with our original investment thesis for E4 while adding exceptional human capital to the combined business. We see great opportunities in the EAP, wellness and student behavioral health sectors as employers and large institutions seek to offset rising healthcare costs through effective wellness and prevention programs. SRS and PRI will be great additions to E4’s outcomes-based strategies.”

Kirkland and Ellis served as legal counsel to E4 Health.

About Kinderhook Industries
Founded in 2003, Kinderhook Industries is a private equity firm with $770 million of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25-$100 million in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook Industries has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com

About Mansa Capital
Mansa Capital is a health care private equity investment firm specializing in high growth companies in the health care services and health care technology sectors. Mansa focuses on companies as they prepare for expansion, acquisition, privatization or IPO. The firm integrates strong expertise in health care policy, regulation, and reimbursement with vast experience in health care operations, marketing, finance, and medical administration. Mansa makes equity investments in operating companies with enterprise values up to $150 million. The firm builds shareholder value by working with management to implement strategic initiatives that grow top-line revenues. Mansa has offices in Boston, MA, Miami, FL, and Dallas, TX. For more information please visit: www.mansaequity.com

About E4 Health, Inc.

E4 Health is committed to providing behaviorally based services that empower individuals and thus enable corporations to thrive. Delivering best-in-class EAP, Behavioral Health, and Wellness services on a single integrated platform - E4HealthMap – E4 Health provides a full range of total health management solutions. For more information please visit: www.e4healthinc.com