Chartwell Midwest to acquire Chicago division of Nation's Healthcare.

CHICAGO--(HealthWire)--Dec. 12, 1996--

Merger provides expanded home care services to Chicago Metro

area

Chartwell Midwest, a major provider of medical home care services and disease state management programs in Illinois and the Midwest, today announced it will acquire the Chicago division of Nation's Healthcare, a national home care company.

Chartwell Midwest is a joint venture between ArcVentures, LLC, a diversified health care holding company based in Chicago, and Chartwell Home Therapies, a Boston-based infusion company. Chartwell Midwest will post nearly $20 million in net revenues in 1996; with the acquisition and other strategic moves and improvements in service; that number is expected to exceed $25 million in 1997. Terms of the acquisition were not made available.

According to Marie Sinioris, president and CEO of ArcVentures, the acquisition will mean significant benefits to patients, physicians and managed-care companies in the region. "The real winners here are home care patients in Chicago and surrounding communities," says Sinioris. "Combining the services of these two companies provides home care patients and their physicians with expanded access to home care services."

The acquisition also strengthens Chartwell Midwest's ability to land large-scale home care contracts with managed care companies in the region. "Just like every other area of health care, home care is increasingly a volume-driven business," says Ed Fischer, senior vice president of ArcVentures. "Our combined purchasing power for supplies and equipment, as well as complete selection of home therapies and treatments, allows us to offer cost-effective home care programs to large providers while maintaining the highest level of quality where it matters most: one on one, in the patient's home."

As for possible downsizing, Fischer adds: "Between Chartwell Midwest and the Chicago branch of Nation's, our joint talent pool of home care professionals is truly impressive. As much as possible, we plan to keep it intact."

Founded in 1991, Chartwell Midwest provides a comprehensive line of home therapies and treatments, including: home infusion therapy, chemotherapy to cancer patients, AIDS treatments, respiratory therapies, and various skilled nursing services.

ArcVentures, LLC provides a wide array of quality products and services to the health care industry. ArcVentures companies are organized around four product/service lines:

Patient Care Services: Health Delivery Management, LLC is a group of companies providing patient care services:

Chartwell Midwest: high-quality, cost-effective home-care

services;

IMARC: innovative treatments for AIDS and HIV-positive patients;

Professional Building Pharmacy: retail and specialty pharmacy

services.

Education Services: Compass Medical Education Network, LLC provides review courses for medical students preparing to take the USMLE licensing board examinations.

Research Services: Millennium 3 Research, LLC provides clinical trial research services (specifically site management) for new drugs that pharmaceutical companies seek to bring to market.

Management Services: Health Receivables Management, LLC provices highly efficient electronic eligibility, billing and collection management services to health care providers.

CONTACT: Freeman Public Relations Group, Golden, Colo.

David Scott, Jay Reed, 303/232-3870