Salt Lake City, UT — June 9, 2006 — Contexo Media, a leading provider of public health and human services data and information, today announced the acquisition of The Medical Management Institute (MMI). MMI is a recognized leader in the medical coding field, dedicating its efforts to improving healthcare's administrative accuracy and effectiveness. Since 1986, the company has provided medical coding publications, electronic products, and educational and consulting services to thousands of healthcare professionals throughout the United States.
Commenting on the acquisition, Kevin Marcum, chief executive officer of Contexo Media said, "MMI's broad product line coupled with its market-leading education workshops, seminars, and conferences provides a wonderful opportunity for us to expand into the healthcare information market. Our immediate focus will be to work with MMI customers in order to continue to deliver market-leading value while expanding the products and services we offer that solve their information needs."
David Keene, Chief Executive of MMI, said, "We are pleased to have found an independent and like-minded organization that shares our mission of providing high-value, easy-to-use references and support materials to further improve the state of healthcare coding and administration."
The combined company will continue to have locations in Salt Lake City, Utah, and Alpharetta, Georgia. "We are fortunate to join forces with a great group of people at MMI who share our passion to work directly with customers in order to create unique and valuable products and services," commented Treavor Peterson, Contexo Media president. "This is very good news for our combined customers as we focus our investment and growth around meeting their exacting needs." Peterson will assume day-to-day leadership of the combined company.
VSS Mezzanine Partners, L.P., a fund specializing in middle-market media, information and communications companies, provided mezzanine financing to help fund the transaction.
Whitestone Communications served as financial advisor while legal services were provided by Wilson, Sonsini, Goodrich & Rosati.
About Contexo Media
Contexo Media (www.contexomedia.com) is a privately-held, business-to-business information provider that creates data, information and educational services to the clients we serve. Our capabilities are focused on providing simple and elegant solutions to customers' information requirements, creating strong and immediate value. Health and Human Service professionals, domestically and internationally, access our up-to-date, value-added information in the daily performance of their jobs.
About The Medical Management Institute
The Medical Management Institute (www.codingbooks.com), founded by Robert D. Keene Sr. and Fred F. Naus, has been dedicated to serving the medical coding industry for 20 years. MMI produces over 100 referential publications and software solutions, providing a one-stop shop for acquiring high quality, value-priced coding, self-study and instructional references. Additionally, MMI delivers over 360 educational seminars annually across the U.S. to improve coding practice, and administer certification and continuing education credits in coding, Medicare regulations and compliance, and administration management.
About Veronis Suhler Stevenson
Veronis Suhler Stevenson (www.vss.com) is a private equity and mezzanine capital fund management company dedicated to investing in the media, communications and information industries in North America and Europe. Since 1987, VSS has managed over $2.8 billion in committed capital across four private equity funds and a mezzanine debt fund, all focused exclusively on the broadly defined media, communications, education, information and business services industries. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. To date, VSS equity and mezzanine funds have invested in 42 platform companies, which have in turn completed over 200 add-on acquisitions resulting in a portfolio with realized and unrealized enterprise values totaling approximately $9.1 billion.
Contexo Media and Medical Management Institute are trademarks of Contexo Media LLC.
