Elite Health Solutions Completes Debt and Equity Financing

West Conshohocken, PA – August 30, 2004 – Elite Health Solutions (Elite Health) has successfully closed a debt and equity financing to fund the acquisition and recapitalization of Lackawanna Mobile X-Ray, Genesis Eldercare Diagnostic Services, and Horizon Mobile Health. Fairmount Partners advised Elite Health in developing its business plan, designing an optimal capital structure, and securing equity, subordinated debt, and senior debt partners.

About Elite Health

Elite Health is based in Mechanicsburg, Pennsylvania and operates from offices in Scranton, Pennsylvania and in the greater Philadelphia, central Pennsylvania, and West Virginia markets. Ben Wootton, CEO, Peter Ballantine, COO, and Paul Woelkers, President lead Elite Health’s management team. Ben Wootton and Peter Ballantine have extensive operational and financial management experience. Paul Woelkers founded Lackawanna and built the company into one of the premier providers of mobile diagnostics services in the Mid-Atlantic region, performing over 150,000 procedures each year to over 700 nursing homes, hospitals, physician offices, health centers, and correctional facilities. Elite Health also provides mobile diagnostic services to several professional sports teams, including the Philadelphia Eagles, 76ers, and Flyers. www.elitehealth.com

Elite Health obtained financing from Eureka Growth Capital, the company’s equity partner, in addition to debt providers Healthcare Business Credit Corporation and Merion Partners.

Fairmount Partners is an independent investment banking firm focused on the needs of middle market and emerging growth companies. Fairmount Partners provides a complete range of investment banking services, including merger & acquisition, financing, and strategic advisory. Fairmount Partners concentrates in several areas where the firm has demonstrated success, notably healthcare, technology, business services, communications/media, and branded products.