News
NEWSPRING CAPITAL ANNOUNCES ECOUNT AND TMG HEALTH NAMED TO PHILADELPHIA 100 LIST OF FASTEST GROWING COMPANIES IN THE REGION
Second Honor This Month for Both Companies
King of Prussia, PA – October 10, 2006– NewSpring Capital proudly announced today that Ecount, Inc. and TMG Health, Inc., two of its portfolio companies, were named to the Philadelphia 100 list of fastest growing, privately held companies in the ten county Philadelphia region. This is the fourth time in the past five years that Ecount has been named to the list. This is the first time that TMG Health has made the list. Earlier this month, both TMG Health and Ecount were also named to the Deloitte Technology Fast 50, a ranking of the Greater Philadelphia region’s fastest growing technology, media, telecommunications and life sciences companies.
NewSpring Capital General Partner, Brian Murphy was pleased with the announcement, saying, “These two companies have worked hard to achieve superior growth. We are thrilled that they are receiving the recognition they so richly deserve.”
This year's Philadelphia 100 had a very high bar as the two year growth rate of the lowest ranked company on the list exceeded 80%, one of the highest in the history of this program. The 2006 Philadelphia 100 marks the 18th Anniversary of the founding of this prestigious research project and event.
The Philadelphia 100 was founded in 1988 to publicly identify, recognize and promote young, successful companies in the Greater Philadelphia region. Previously recognized companies include NovaCare, Forman Mills, ATX, Mothers Work, Diamond Transportation, West Coast Video, Spectacor, Urban Outfitters and Kremer Laser Eye Center, among many others. The Philadelphia 100 is a meritorious designation based on verifiable revenue growth as reported on federal tax forms or audited financial statements.
About Ecount
Ecount provides customized prepaid programs for corporations looking for simple and convenient ways to deliver electronic payments. Ecount's proprietary technology enables complete communication and brand extension coupled with a secure payment vehicle. More than 1,000 leading corporations, including more than one third of the Fortune 100, rely on Ecount's prepaid solutions to gain a strategic advantage in their market.
About TMG Health
TMG Health is the leading provider of Business Process Outsourcing (BPO) services to the Medicare, Medicaid and retiree health plan markets. TMG provides operational outsourcing solutions and information systems for health plans, providers, and employers with large retiree groups. TMG has a broad solution set serving over 40 health plans in all 50 states.
About NewSpring Capital
NewSpring Capital, based in King of Prussia, PA, manages a family of private equity funds which provide growth equity and mezzanine debt financing to growth and expansion stage companies with a focus on business services, healthcare, life sciences, specialty manufacturing and technology. NewSpring Capital focuses primarily on businesses in the mid-Atlantic region and invests between $3-$7.5 million per transaction in round sizes up to $30 million. For more information about NewSpring Capital and its family of funds, visit www.newspringcapital.com.
###
