HealthPlan Holdings Appoints Michael Hudson as CFO

TAMPA, Fla. – Aug. 29, 2011 – HealthPlan Holdings, Inc., a leading provider of outsourced solutions to insurers in the individual, union trust and voluntary benefits markets, has appointed Michael Hudson as CFO and executive vice president. In this role, he will manage the financial and accounting functions for the company’s businesses.

“With a strong background in finance and healthcare, Mike has the experience needed to align our corporate strategy through appropriate financial accounting and forecasting,” said Jeff Bak, president and CEO, HealthPlan. “We are pleased to welcome him to the team and look forward to the many contributions he will bring.”

Prior to joining HealthPlan, Hudson served as the head of care management operations for Aetna, where he was responsible for overall regional strategy, partnerships with healthcare providers, network fortification and medical management. Additionally, he had a significant role in targeted growth market initiatives, state government and community relations and regional communications. Previous positions include president of Aetna’s Northeast Region Healthcare Management and CFO for Aetna’s small- and middle-market business.

Prior to joining Aetna, Hudson held a variety of finance and healthcare positions, including COO for CIGNA Medical Group and consulting actuary for Towers Perrin and Ernst & Young. Hudson, who is a Fellow of the Society of Actuaries, is completing his Master of Business Administration at Yale University. He earned his bachelor’s degree from Lipscomb University in Nashville, Tenn.

About HealthPlan Holdings, Inc.

Founded in 2001, the origins of HealthPlan Holdings, Inc. date back to 1970. Today it provides end-to-end sales, administration and technology solutions to fully insured health plans, self insured employer groups, insurance companies and unions. The company supports more than 30 insurance carriers that utilize its technology and service solutions to help grow and retain their members, and reduce their membership administrative costs in the individual and small business markets. The company currently supports more than 2 million members and thousands of small businesses, as well as some of the nation’s largest Taft-Hartley funds for unionized workers. Headquartered in Tampa, Fla., HealthPlan employs approximately 2,200 associates. For more information, visit www.healthplanholdings.com.

About Water Street

Water Street Healthcare Partners is a strategic private equity firm focused exclusively on healthcare. The firm has a strong record of building market-leading companies across key growth sectors in healthcare. It has partnered with some of the world’s leading healthcare companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global healthcare businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.