Clearview Capital, LLC

Clearview Capital and Management Acquire Senior Care Centers of America, Inc.
December 9, 2005

Clearview Capital, LLC of Old Greenwich, CT and the management of Senior Care Centers of America, Inc. have partnered to acquire the company from its majority owner. The transaction, which closed on December 7, resulted in Clearview’s becoming the majority owner of the company and allowed management to gain a large equity position in the company.

With a total of 20 centers in New Jersey, Pennsylvania, Maryland, Connecticut and Mississippi, Senior Care Centers of America, Inc. is the second largest operator of adult day health centers in the United States. Senior Care’s state-of-the-art centers provide a daytime program of nursing care, social services, meals and recreational activities to frail, elderly and disabled adults. As a cost effective alternative to in-home and nursing home care, adult day services fill a growing need to provide health care to an aging population while allowing patients to maintain their independence.

“We think Senior Care is ideally positioned for growth because it provides excellent care for a growing segment of the population while doing so at much less cost than traditional nursing home and in-home care, said Calvin Neider, co-managing partner of Clearview Capital. “As the country struggles with rising health care costs, we believe adult day care will prove itself to be a great way to contain cost without sacrificing the level of care our seniors need.”

“In Senior Care we have found a company well-positioned to benefit from long-term demographic trends that has a talented, motivated management team in place,” said James Andersen, co-managing partner of Clearview Capital. “We believe Senior Care is a great platform for both organic growth and growth through acquisition and are confident our management partners, Jim Donnelly and Craig Mehnert, are the perfect team to capitalize on the opportunity that lies ahead.”

Clearview’s other holdings include M.H. Zeigler & Sons, LLC of Lansdale, PA, the country’s leading manufacturer of refrigerated apple cider, Hillsdale Furniture, a designer and importer of wood furniture, and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including Azek® brand trimboards.