Geisinger pharmacies expand to form SureHealth Pharmacy

June 14, 2005 DANVILLE - Geisinger has announced a joint venture with EDG Partners, LLC, to expand the Geisinger Community Pharmacy and Geisinger Long-Term Care Pharmacy businesses.

The new business - SureHealth Pharmacy - is the first major effort by Geisinger Ventures to capitalize on Geisinger's clinical expertise. Geisinger will own a majority share of the business, and its proceeds will be reinvested in the system's core patient-care operations.

"SureHealth is the first venture by Geisinger Ventures as we pursue our strategic initiative to find and develop unique assets in the Geisinger portfolio. Our ventures target circumstances that create a clear benefit for our not-for-profit Foundation and our patient population," said Denise Prince, Chief Operations Officer, Geisinger Ventures. "After an extensive search we are enthusiastic about working with EDG to establish SureHealth. Their strategic focus, track record and experience working with not-for-profit health systems drove our decision to partner with them."

EDG Partners will provide capital, executive management and direction for the joint venture. Plans are to open 10 to 15 new sites over the next three years in addition to the eight current locations.

"Our investment and role in SureHealth underscores the unique strengths of EDG's model; we combine capital resources, strategic direction, operating capabilities and deep healthcare services insight. We are delighted to partner with the Geisinger Health System, a proven leader in the delivery of innovative and high-quality healthcare,? said EDG Partners Managing Director Michael Gaffney.

The new company will employ current Geisinger Community Pharmacy, Geisinger Long-Term Care Pharmacy and Geisinger Mail Order employees.