Navix Holdings Corp.

FOR IMMEDIATE RELEASE
August 4, 2010
Contact: Lauren B. Sinai

Prospect Partners And Management Recapitalize Leading Regional Provider of Outsourced Cardiovascular Diagnostic Services

Navix Diagnostix to Pursue Further Geographic Expansion, Acquisitions


CHICAGO, Ill.—August 4, 2010: Prospect Partners, LLC, a leading lower-middle-market private equity firm investing in smaller lower-middle-market companies, today announced the formation of Navix Holdings Corp. to invest in Navix Diagnostix, Inc., a Taunton, Mass.-based provider of outsourced cardiovascular diagnostic services. The transaction, a recapitalization in partnership with Navix Diagnostix's executive management team, is Prospect Partners' third specialty healthcare services investment.

Since its inception in 1998, Navix Diagnostix has become the leading outsourced cardiovascular diagnostic services provider in the northeastern United States, building a unique niche by partnering with healthcare providers to grow their non-invasive vascular labs. Navix Diagnostix's programs help hospitals, multi-specialty practices, vascular surgeons, and cardiologists detect, diagnose, and manage peripheral vascular disease, a pre-cursor to strokes and coronary heart disease. The company's services also include echocardiography and nuclear medicine.

To best assist its clients, Navix Diagnostix serves as a full-service lab partner. Its comprehensive offering includes staffing by highly credentialed technologists, ultrasound imaging and vascular testing equipment, vascular laboratory accreditation, physician education, and market development to help build or expand vascular practices. The company also has developed proprietary tools that can help clients improve their economic returns by providing high-quality service and standardized treatments while operating in an accredited environment. Navix Diagnostix has more accredited labs than any other healthcare provider in the United States, and its clients stretch across nine states in New England and the mid Atlantic.

For Prospect Partners, which invests opportunistically in unique small companies in niche manufacturing, distribution, and service markets, Navix Diagnostix represents an exciting opportunity within a growing specialty healthcare services industry segment.

"Navix has established its leadership position in the outsourced cardiovascular diagnostic services market by developing proprietary clinical protocols and providing turnkey accreditation and delivery solutions that help clients build effective and profitable vascular labs," said Maneesh Chawla, a Principal at Prospect Partners. "We look forward to supporting the company's continued success by pursuing further organic growth, expanding its geographic footprint, and acquiring other companies that provide related products and services."

Navix Diagnostix will continue to be led by its current management team, which includes Cheryl Ford, President and Chief Executive Officer; Michael Nikosey, Chief Financial Officer; Steve Flieder, VP-Sales, Marketing & Operations; and Bob Kane, VP-Clinical Services.

Said Ms. Ford: "We are very excited about what the future holds for Navix. Prospect Partners has an exceptional track record of helping its portfolio companies accomplish their growth plans. What's more, our management styles and philosophies are well-matched."

Serving Navix Holdings Corp.'s Board of Directors from Prospect Partners are Mr. Chawla, as Chairman, and Principal Louis Kenter and Vice President Brett Holcomb as Directors.

Prospect Partners is an experienced investor in specialty healthcare service companies. The firm's related investments include prior platforms Marina Medical Billing, Inc., a provider of medical billing services to emergency room and anesthesiology groups, and Remuda Ranch Company, a provider of behavioral health care services to females suffering from eating disorders. After experiencing significant growth, both companies were recapitalized with management and outside financial buyers in 2006 in highly successful exits for Prospect Partners.

Navix Holdings is the 16th platform company in Prospect Partners' second fund, the $165 million Prospect Partners II, L.P. Overall, Prospect Partners has invested in nearly 80 companies since 1998.

About Prospect Partners, LLC

Prospect Partners, of Chicago, Ill., is a leading private equity firm investing in smaller lower-middle-market companies, managing $270 million in two funds. A highly experienced, active, and committed small-company investor, Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues typically between $10 million and $50 million. Since its inception in 1998, Prospect Partners has invested nationwide in nearly 80 companies within a broad range of niche manufacturing, distribution, and specialty services markets. For more information, visit www.prospect-partners.com.

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