Press Releases Archive

2008

1. Nov 14, 2008Masterplan Announces Appointment of Gerald Bowe as Chief Executive Officer

   Chatsworth, CA – November 14, 2008 – Masterplan today announced that Gerald Bowe will become its Chief Executive Officer effective November 14, 2008. He will follow David Winn who served as the Company's Chief Executive Officer for the past two years.

   In his new role, Gerald "Jerry" Bowe will be responsible for the management and operation of the company and its affiliates. He will report directly to the Board of Directors. Most recently, Jerry served as interim president of Masterplan’s sister company, ReMedPar, a leading provider of diagnostic and biomedical parts.

   "Jerry Bowe is a recognized and respected business leader with extensive experience leading companies in both the corporate and private sector," said Chris Hadley, Managing Director of Berkshire Partners, majority shareholder of Masterplan. "His breadth of understanding of the Company's business and products, as well as the financial markets, has earned him the full confidence of the Masterplan Board. As CEO, Jerry is well equipped to lead the Company through its next phase of growth."

   Prior to ReMedPar, Jerry was CEO and Chairman of Avery Weigh-Tronix (AWT), a UK manufacturer of electronic weighing components and systems and a former Berkshire Partners portfolio company. During his five years as CEO of AWT, Jerry steered the organization through a strategic restructuring and positioned the company for consistent long term stability and customer support. Prior to AWT, Jerry was Chief Operating Officer of Malden Mills Industries, a manufacturer of fleece for the outdoor clothing industry. Jerry joined Malden Mills after its acquisition of Goerlitz Fleece GmbH, a manufacturing company that Jerry founded in 1994. Jerry’s previous experience also includes eight years in the consulting industry at Bain & Company and Arthur Little. He holds a BA from Dartmouth College and a MBA from the Tuck School of Business at Dartmouth.

   "We are extremely grateful for all of David's hard work and efforts over the past two years. His contributions have been immeasurable and have positioned the company for future growth. We wish David the best of luck with all his future endeavors," said Hadley.

   About Masterplan:
   Masterplan lowers the cost of owning medical equipment by delivering reliable, high quality maintenance services as well as information and consulting that facilitates capital asset planning decisions. Masterplan is one of the largest independent service organizations in the $6 billion domestic medical equipment services market. The Company has long-term equipment maintenance agreements covering 39,000 licensed beds at 4,200 customers including exclusive long term contracts and relationships with several large national and regional systems. Masterplan is headquartered in Chatsworth, CA, and has operations throughout the United States.

2. Nov 13, 2008Amerinet Signs Agreement with Masterplan

   Members to Benefit from New Agreement Between Amerinet and Masterplan

   Amerinet Inc., a leading national healthcare group purchasing organization, announces a new agreement with Masterplan for clinical equipment maintenance and management services.

   Effective November 1, 2008, through October 31, 2011, the contract offers Amerinet members savings on Masterplan's comprehensive clinical equipment maintenance management program, MasterCare. The MasterCare program includes preventive and corrective maintenance on all biomedical and diagnostic imaging equipment modalities, as well as unbiased technology assessment services and a proprietary clinical equipment management software system

   About Masterplan
   Since its inception in 1974, Masterplan established a strong national reputation as a leader in clinical technology management and medical equipment maintenance management programs. As the nation's leading independent organization of its kind, Masterplan has the unique ability to offer vendor-neutral and cost-effective service for a wide range of sophisticated equipment technologies. A nationwide staff of over 500 imaging and clinical engineers distinguish themselves from the competition through unbiased technology assessment, consulting and regulatory compliance assistance.

   Headquartered in Chatsworth, Calif., Masterplan offers hospitals, integrated health systems and out-patient facilities programs designed to build upon each other to give healthcare facilities an important edge in an intensely competitive marketplace.

   About Amerinet
   As a leading national group purchasing organization, Amerinet strategically partners with healthcare providers to reduce costs and improve quality.

   Through its Total Spend Management solutions and operational performance improvement programs, tools and services, Amerinet assists members in their efforts to reduce costs, improve efficiencies and create new revenue streams. Supported by a team of clinical, data and supply chain experts, Amerinet offers a comprehensive portfolio of product and service contracts to address members' specific needs.

   Based in St. Louis with offices in Salt Lake City, Providence. R.I., and Warrendale, Pa., Amerinet serves acute and non-acute healthcare providers nationwide. To learn more, visit www.amerinet-gpo.com.

   Contact: Evan Danis
   Manager, Public Relations and Internal Communications
   724-778-3423
   evan.danis@amerinet-gpo.com

3. Jan 31, 2008MedAssets Supply Chain Systems Names Masterplan as a Supplier of Biomedical/Clinical Engineering Services

   Chatsworth, CA – January 31, 2008 – Masterplan today announced that it is has signed an agreement with MedAssets Supply Chain Systems, the group purchasing division of MedAssets, Inc. (NASDAQ: MDAS), to provide Biomedical/Clinical Engineering Services to its healthcare customer network. The multi-year agreement was effective January 1, 2008.

   Masterplan will offer MedAssets' customers a wide range of biomedical & diagnostic imaging equipment services through this agreement with guaranteed cost savings based on the volume of current service costs.

   "MedAssets recognizes and supports the strong value that Masterplan brings to the healthcare industry. We share their commitment to providing the best services to our customers," stated Misty Poynter, Director, Executive Services, MedAssets Supply Chain Systems. "By collaborating with Masterplan for outsourced biomedical/clinical engineering, we will further our commitment to improving the financial strength of our customers through spend management."

   "We look forward to building a strong relationship with MedAssets and its customers through this agreement," says David Winn, Chief Executive Officer of Masterplan. "We're confident that MedAssets customers will benefit from Masterplan's expertise in the biomed & imaging services field and our strong focus on customer satisfaction."

   Masterplan has experience serving hundreds of healthcare organizations since the company's inception in 1972. Masterplan provides the healthcare industry a comprehensive and cost-effective service alternative to the equipment manufacturer's service.

   About MedAssets
   MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.

   About Masterplan
   Masterplan is the largest independent service organization in the U.S. focused solely on the service of biomedical & diagnostic imaging equipment services. A leading provider of service solutions for hospitals, imaging & surgery centers, Masterplan's innovative maintenance programs are designed to keep up with the financial, technical and regulatory needs of today’s healthcare providers. Founded in 1972, the company is headquartered in Chatsworth, CA and has more than 320 hospitals under full service contract agreements throughout the U.S.

2007

1. Dec 17, 2007Masterplan Offers Reduced Costs for Clinical Equipment Maintenance to Virginia Hospitals

   Richmond, VA – December 17, 2007 – VHHA Services, the shared services affiliate of the Virginia Hospital & Healthcare Association (VHHA), has endorsed Masterplan, Inc., to assist Virginia hospitals in lowering the costs for medical equipment maintenance and repair. Masterplan provides service, maintenance and asset management for a wide range of medical equipment to hospitals, integrated health systems and patient facilities.

   Founded in 1974 and headquartered in Chatsworth, California, Masterplan provides superior outsourced repair and maintenance services to medical facilities for diagnostic imaging machines including MRIs, CT scanners, and cath labs, and for biomedical equipment including sterilizers, anesthesia equipment and lab equipment. Masterplan’s highly-qualified staff of imaging and clinical engineers and technical support personnel is distinguished by its unbiased technology assessment, consulting and regulatory compliance assistance.

   Masterplan also offers a proprietary software system, iDesk, which provides real-time detailed information to hospital administrators on the status and performance of equipment via the Internet. In addition, iDesk allows Masterplan to effectively monitor its field organization to ensure that issues are resolved in a timely and cost efficient manner. Masterplan also has remote diagnostic capabilities where a technician can view scans and equipment performance on a real-time basis to help diagnose equipment problems, whatever their location.

   "Masterplan is excited about our new partnership with VHHA services." said David Winn, CEO of Masterplan. "Through this partnership, we are committed to lowering the cost of medical equipment maintenance, while improving quality and service delivery to the healthcare providers of Virginia."

   "Masterplan is a great example of the high-value service providers we seek to partner with to help member hospitals and health systems deliver high-quality and efficient health care services to communities throughout the Commonwealth. Masterplan’s capabilities and track record in the key area of medical equipment support, here in Virginia and elsewhere, speak for themselves. We look forward to a long and productive partnership," said VHHA Senior Vice President, Christopher S. Bailey.

   About Masterplan
   Masterplan lowers the cost of owning medical equipment by delivering reliable, high quality maintenance services as well as information and consulting that facilitates capital asset planning decisions. Masterplan is one of the largest independent service organizations in the $6 billion domestic medical equipment services market. The Company serves more than 1,400 healthcare facilities nationwide including exclusive long term contracts and relationships with several large national and regional systems. Masterplan is headquartered in Chatsworth, CA, and has operations in 32 states.

   About VHHA Services
   VHHA Services, the shared services division of the Virginia Hospital & Healthcare Association (VHHA), was founded by VHHA in 1980 to implement and operate shared services programs for Virginia hospitals and other organizations. It offers an array of distinctive products, services and solutions that are either state-specific or not currently met by members' other alliances. For more information, please visit VHHA Services at www.vhhaservices.com or contact Dave Jenkins at djenkins@vhha.com or 1-804- 965-1350.

2. Feb 5, 2007Berkshire Partners Invests In Masterplan

   Boston, MA – February 5, 2007 – Berkshire Partners LLC, a Boston-based private equity firm, today announced that it is providing growth capital to Masterplan, Inc. and ReMedPar, Inc. to help continue their demonstrated record of strong growth and customer service. Masterplan provides service, maintenance and asset management for a wide range of medical equipment to hospitals, integrated health systems and patient facilities. ReMedPar is the leading independent provider of sourced and refurbished medical equipment parts. Terms of the transaction were not disclosed.

   Founded in 1974 and headquartered in Chatsworth, California, Masterplan provides superior outsourced repair and maintenance services to medical facilities for diagnostic imaging machines including MRIs, CT scanners, and cath labs, and for biomedical equipment including sterilizers, anesthesia equipment and lab equipment. Masterplan’s highly-qualified staff of imaging and clinical engineers and technical support personnel is distinguished by its unbiased technology assessment, consulting and regulatory compliance assistance. Masterplan also offers a proprietary software system, iDesk, which provides real-time detailed information to hospital administrators on the status and performance of equipment via the Internet. In addition, iDesk allows Masterplan to effectively monitor its field organization to ensure that issues are resolved in a timely and cost efficient manner. Masterplan also has remote diagnostic capabilities where a technician can view scans and equipment performance on a real-time basis to help diagnose equipment problems, whatever their location.

   "Our investment in Masterplan couples Berkshire’s significant investment experience in the business service sector with our continued interest in investing in companies with a proven track record of growth and stability," said Randy Peeler, Managing Director for Berkshire Partners. "Masterplan provides an invaluable service by providing one source of maintenance and repair for virtually all of the thousands of pieces of medical equipment in a hospital. Through contracting with Masterplan, hospitals are able to significantly reduce their operating budgets. The Company is well-positioned to support the growth of its current customer base as well as pursue new opportunities."

   As part of the transaction Berkshire Partners will also invest in ReMedPar. ReMedPar is the largest independent provider of multi-vendor sourced and refurbished parts for medical equipment in the world and generates significant savings for healthcare organizations. "Berkshire Partners has a demonstrated track record of building good companies into even stronger companies," said Masterplan CEO David Winn. "We believe that Berkshire’s experienced team will help us to achieve our long-term growth strategies and solidify our leadership position in the healthcare industry."

   Debt financing for the transaction was provided by Bear, Stearns & Co., Inc. and Ares Capital Corporation. Harris Williams acted as the Company’s financial advisor in the transaction. Masterplan was previously owned by Three Cities Research and Camden Partners.

   About Masterplan
   Masterplan lowers the cost of owning medical equipment by delivering reliable, high quality maintenance services as well as information and consulting that facilitates capital asset planning decisions. Masterplan is one of the largest independent service organizations in the $6 billion domestic medical equipment services market. The Company serves more than 1,400 healthcare facilities nationwide including exclusive long term contracts and relationships with several large national and regional systems. Masterplan is headquartered in Chatsworth, CA, and has operations in 32 states.

   About ReMedPar
   ReMedPar supplies the highest quality replacement parts and aftermarket equipment available in the healthcare industry. Headquartered in Goodlettsville, TN, ReMedPar has provided customer solutions for healthcare service providers for over 18 years and since 2000, has been the largest independent provider of vendor support services for medical equipment in the world. ReMedPar is positioned to meet the diverse technical needs of organizations in all areas of medical imaging equipment. For more information, please visit ReMedPar at www.remedpar.com or call 1-800-624-3994.

   About Berkshire Partners
   Berkshire Partners has invested in mid-sized private companies for more than 20 years through seven investment funds with aggregate capital commitments of approximately $6.5 billion. Berkshire seeks companies with acquisition values between $200 million and $1.5 billion and in a given transaction makes equity investments of approximately $50 million to $350 million. Berkshire has developed specific industry experience in several areas, including retailing, consumer products, business services, manufacturing, transportation and communications. The firms transactions have included acquisitions, growth equity investments, and turnarounds. Over the past two decades, Berkshire has been an investor in 90 operating companies with more than $19 billion of acquisition value and combined revenues in excess of $21 billion. For additional information, visit www.berkshirepartners.com.

   About Three Cities Research
   Three Cities Research is a New York-based private equity firm with approximately $700 million of funds under management. For over three decades, Three Cities Research has been investing in a wide variety of industries, including industrial manufacturing, distribution, apparel, publishing, services and retailing. Our investment focus is on businesses that are substantially underperforming their potential. We deploy dedicated resources to deeply understand the value proposition and competitive environment of our portfolio companies, and we partner with our management teams to develop and execute winning strategies. For additional information, please visit www.tcr-ny.com.

2006

1. Feb 13, 2006Masterplan Announces the Acquisition of Genesis Technology Partners

   Chatsworth, CA — Masterplan, one of the nation's largest providers of technology services for healthcare organizations, announced today that it has acquired Genesis Technology Partners (GTP). The terms of the transaction were not made public.

   "We are very excited about the combination of the two companies," said Bruce Cree, CEO and Chairman of Masterplan. "The addition of GTP will benefit the customers of both companies by allowing Masterplan to offer a wide range of maintenance and information services unparalleled in our industry. Masterplan is now the country's largest independent service provider focused solely on delivering high quality, cost-effective equipment maintenance service to the healthcare industry."

   "The management and employees at Genesis are equally excited about the future success of the combined company going forward", stated Sandy Morford, former President & CEO of Genesis Technology Partners. "By bringing together the best practices of each company, the result will be the formation of an even stronger service organization, both financially and operationally, that has never before existed in the healthcare marketplace."

   Masterplan has been at the forefront of the industry for over 30 years. Known for their expertise and cost-savings solutions, Masterplan's network of over 500 technicians nationwide provide healthcare facilities with quality service on sophisticated medical devices such as CT and MRI. Masterplan’s innovative maintenance programs are designed to keep up with the financial, technical and regulatory needs of today's healthcare providers. Masterplan… Lowering the Cost of Providing Healthcare.

2005

1. Mar 10, 2005Masterplan Introduces New Service Offering

   10 March 2005, Chatsworth, CA — Masterplan, one of the nation’s largest independent providers of technology services for healthcare organizations, today announced an agreement has been signed with ReMedPar, Goodlettsville, TN, which allows Masterplan to offer refurbished Diagnostic Imaging equipment to their customers.

   "This new product offering will enhance Masterplan’s current service offerings", said Bruce Cree, CEO and Chairman of Masterplan, "and allows Masterplan to provide an affordable solution to our customers' Diagnostic Imaging equipment needs." Masterplan is interested in acquiring used equipment from their customers, which offers Masterplan customers an alternative to trading in used equipment to OEMs for a lesser value thereby providing additional savings to their capital equipment budget. In addition, this new product offering allows Masterplan the opportunity to further their goal of lowering the cost of providing healthcare for their customers.

   Healthcare providers will now be able to source refurbished diagnostic equipment from Masterplan, who can support these purchases with their maintenance and technical programs further enhancing their relationship with their customers. Masterplan has been at the forefront of the industry for over 30 years. Known for their expertise and cost-savings solutions, Masterplan’s network of over 400 employees nationwide provide healthcare facilities with quality service on sophisticated medical devices such as CT and MRI. Masterplan’s innovative maintenance programs keep up with industry trends and regulatory requirements. Masterplan…Lowering the Cost of Providing Healthcare.