Prospect Medical Holdings Announces Appointment of Sam Lee as Chief Executive Officer;...

Mon Mar 24, 2008 9:51am EDT

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Prospect Medical Holdings Announces Appointment of Sam Lee as Chief Executive Officer; Jacob Y. Terner, M.D. Continues as Executive Chairman

CULVER CITY, Calif.--(Business Wire)--
Prospect Medical Holdings, Inc. (AMEX: PZZ) ("Prospect"), which
manages the medical care of approximately 240,000 HMO enrollees and
operates four community hospitals in southern California, today
announced that Sam Lee has been promoted to the position of Chief
Executive Officer of Prospect. Jacob Y. Terner, M.D. will continue
serving the Company as Executive Chairman.

   Mr. Lee, 41, served as the President of Alta Healthcare System,
Inc. ("Alta") beginning in January 2002 and was appointed as a member
of Prospect's Board of Directors and as Chief Executive Officer of
Alta Hospitals System, LLC following Prospect's acquisition of Alta on
August 8, 2007. Mr. Lee will continue as Alta's CEO while serving in
his new position as Chief Executive Officer of Prospect. Dr. Terner
served previously as Prospect's Chief Executive Officer and will
continue serving Prospect as Executive Chairman. This change was
approved by Prospect's Board of Directors on March 19, 2008.

   Mr. Lee's extensive background includes healthcare and technology
related operational leadership, private equity investment management,
entrepreneurship, mergers and acquisition, and leveraged financing for
various corporations. Prior to Alta, Mr. Lee was a General Partner
with Kline Hawkes & Co., a private equity firm located in Brentwood,
California, that focuses on healthcare, technology, and business
services. Mr. Lee has been the lead/principal investor and director of
several private and public companies. Additionally, Mr. Lee worked for
Andersen Consulting and Verizon. Mr. Lee received his Bachelor's
degree in Industrial and Systems Engineering from Georgia Tech and
Master's degree in Business Administration from Harvard Business
School. Mr. Lee is an active member of the Young President's
Organization of Los Angeles, and is also involved with civic and
community organizations.

   Dr. Terner commented, "One of the key benefits of our acquisition
of Alta was the access it gave us to Sam's strong leadership abilities
and experience in healthcare management and business development. Sam
brings a tremendous amount of energy, motivation and commitment to
Prospect. Sam and I have spent many hours together working on our
vision of Prospect's future, and we will work together as a team to
help Prospect advance and prosper."

   ABOUT THE COMPANY

   Prospect Medical Holdings operates four community-based hospitals
in the greater Los Angeles area and manages the medical care of
individuals enrolled in HMO plans in Southern California, through a
network of over 9,000 specialist and primary care physicians.

   This press release contains forward-looking statements. Additional
written or oral forward-looking statements may be made by Prospect
from time to time, in filings with the Securities and Exchange
Commission, or otherwise. Statements contained herein that are not
historical facts are forward-looking statements. Investors are
cautioned that forward-looking statements, including the statements
regarding anticipated or expected results, and the future introduction
of new products, involve risks and uncertainties which may affect the
Company's business and prospects, including those outlined in
Prospect's Form 10-K filed on December 28, 2006, its Form 10-Q filed
on August 20, 2007, and those arising from Prospect's acquisition of
Alta, the debt incurred by Prospect in connection with the Alta
acquisition, and any impact on Alta's historical financial statements
that may result from completion of Prospect's review and analysis of
those financial statements. Any forward-looking statements contained
in this press release represent our estimates only as of the date
hereof, or as of such earlier dates as are indicated, and should not
be relied upon as representing our estimates as of any subsequent
date. While we may elect to update forward-looking statements at some
point in the future, we specifically disclaim any obligation to do so,
even if our estimates change.

Prospect Medical Holdings, Inc.
Linda Hodges, 310-337-4170
Executive Vice President
Linda.hodges@prospectmedical.com
or
Investor Relations Counsel:
The Equity Group Inc.
Devin Sullivan, 212-836-9608
dsullivan@equityny.com

Copyright Business Wire 2008
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