UHS is now AGILITI: The people you know and the services you trust remain the same.

RES is Now Agiliti
Our name has changed, but our commitment to quality service remains the same.



Agiliti , Inc. Completes Acquisition by Bear Stearns Merchant Banking and Management

Posted: June 4, 2007

Dateline City:
EDINA, Minn.

New $460 Million Bond Deal; $135 Million Line of Credit

EDINA, Minn.–(BUSINESS WIRE)–Agiliti , Inc., (UHS) a leading provider of medical equipment lifecycle services to the healthcare industry, announced today that it has completed the transactions to transfer ownership and recapitalize its balance sheet. Agiliti is now owned by Bear Stearns Merchant Banking (BSMB), the private equity affiliate of The Bear Stearns Companies, Inc. (NYSE:BSC) and Agiliti management. Agiliti was formerly owned by the private equity firms J. W. Childs Associates and The Halifax Group and by Agiliti management.

Our new partner BSMB, and the flexibility of our new capital structure will allow us to aggressively address the healthcare marketplace and take the level of service and value we provide our customers to a whole new level, said Gary Blackford, UHS Chairman and CEO.

We are excited to partner with the management team that has made Agiliti an industry leader and innovator. We look forward to bringing our financial and healthcare expertise to make Agiliti an even stronger contributor to the healthcare marketplace, said Robert Juneja, Managing Director & Partner of BSMB, and new board member of UHS. Also joining Mr. Juneja and Mr. Blackford on the Agiliti Board are John Howard, CEO & Sr. Managing Director of BSMB and Bret Bowerman, Sr. Associate of BSMB.

In connection with the sale of Agiliti to BSMB and management for approximately $712 million, the company issued $460 million in bonds, due in 2015. The bond issuance was led by Merrill Lynch & Co., Bear, Stearns & Co. Inc. and Wachovia Securities. Agiliti also entered into a $135 million line of credit with a consortium of banks lead by Merrill Lynch Capital.

About Agiliti , Inc.

Agiliti , Inc. is a leading medical equipment lifecycle services company. Agiliti offers comprehensive solutions that maximize utilization, increase productivity and support optimal patient care resulting in capital and operational efficiencies. Agiliti currently operates through more than 75 offices, serving customers in all 50 states and the District of Columbia.

Agiliti , Inc. 7700 France Avenue South Edina, MN 55435 952-893-3200 www.agilitihealth.com

About BSMB

BSMB, the private equity affiliate of The Bear Stearns Companies Inc. (NYSE:BSC), invests private equity capital in compelling leveraged buyouts, recapitalizations and growth capital opportunities alongside superior management teams. BSMB focuses on making control or entrepreneur-driven investments, principally in middle-market retail, financial services and consumer products companies. Since its formation in 1997, BSMB has been an investor in over 50 portfolio companies. BSMB manages nearly $5 billion of private equity capital, including its new $2.7 billion institutional fund and capital dedicated to its affiliate, Bear Growth Capital Partners. Investments by BSMB include: ACA Capital Holdings (NYSE:ACA), Alter Moneta, Balducci’s, CamelBak Products, Caribbean Financial Group, Cavalry Investments, Churchill Financial Holdings, Dairyland, Everything But Water, Harlem Furniture, Ironshore Inc., Multi Packaging Solutions, New York & Company (NYSE:NWY), PlayCore, Seven For All Mankind, Stuart Weitzman, Transamerican Auto Parts Company and The Vitamin Shoppe. More information about BSMB is available at www.bsmb.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: We believe statements in this release looking forward in time involve risks and uncertainties. The following factors, among others, could adversely effect our business, operations and financial condition causing our actual results to differ materially from those expressed in any forward-looking statements: the Companys history of net losses and substantial interest expense since its 1998 recapitalization; the Companys need for substantial cash to operate and expand its business as planned; the Companys substantial outstanding debt and debt service obligations; restrictions imposed by the terms of the Companys debt; the Companys ability to effect change in the manner in which healthcare providers traditionally procure medical equipment; the Companys relationships with certain key suppliers and any adverse developments concerning these suppliers; the absence of long-term commitments with customers; the Companys ability to renew contracts with group purchasing organizations; the write-off or acceleration of the amortization of goodwill; the Companys ability to acquire adequate insurance to cover claims; the fluctuation in our quarterly operating results; adverse regulatory developments affecting, among other things, the ability of our customers to obtain reimbursement of payments made to the Company; changes and trends in customer preferences, including increased purchasing of movable medical equipment; difficulties or delays in our continued expansion into certain markets and developments of new markets; additional credit risks in increasing business with home care providers and nursing homes; consolidations in the healthcare industry; unanticipated costs or difficulties or delays in implementing the components of our strategy and plan and possible adverse consequences relating to our ability to successfully integrate recent acquisitions; effect of and changes in economic conditions, including inflation and monetary conditions; actions by competitors; and the availability of and ability to retain qualified personnel. These and other risk factors are detailed in the Companys Securities and Exchange Commission filings.


Agiliti , Inc.
Gary D. Blackford, 952-893-3261
Chairman & CEO
Rex T. Clevenger, 952-893-3254
Senior Vice President and CFO
Brunswick Group (for BSMB)
Melissa Daly, 212-333-3810

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