Premium Asset Recovery Announces Purchase of $225 million in Healthcare Portfolios

Premium Assets Recovery Corporation (PARC) announced today that it has completed the purchase of two portfolios totaling over $225 million.

The first portfolio contains aged accounts for several hospitals operated by a for-profit hospital group. These facilities have a total licensed bed count of over 3,000 beds and are located across the United States.

The second portfolio represents another purchase of ER physician staffing and billing company in this sector. PARC also has obtained a forward flow agreement with this transaction.

PARC completed agreements on all of these transactions in the past 30 days.

Both Chris Conway, President and Adam Holzhauer, Sr. VP ? Business Development, expressed optimism that health care sales will grow dramatically in 2006. “We have seen a major upswing in portfolio transactions in 2005,” Conway stated. Holzhauer agreed and added, “We expect to see a record number of healthcare portfolios coming to the market in 2006.”