Complete Holdings Group Completes First Capital Raise with SSM Partners

NASHVILLE, TN (May 5, 2011) –Complete Holdings Group (CHG) has recently completed securing its first round of funding that combines friends and family investors with equity from Memphis-based SSM Partners. SSM is one of the largest and most experienced venture capital firms in the Southeast.  The funding will allow the company to invest in product development, and to establish the infrastructure necessary to support anticipated growth.

Complete Holdings Group is the parent company for EnableComp, a workers’ compensation revenue recovery company which helps hospitals identify and capture underpayments for services provided to injured workers. EnableComp, which has more than 50 hospitals clients nationwide, including all of Tennessee’s level-one trauma centers, was founded by David Iskowe in 2000.  Iskowe, who remains the company’s Chairman, is lauded as one of the country’s foremost experts in the field of workers’ compensation. He previously co-founded Focus Healthcare, still one of the largest Workers’ Compensation PPOS which was sold to United Healthcare in 1994.

Complete Holdings Group Chief Executive Officer and healthcare entrepreneur, Jim Lackey, has built a career on recognizing opportunity and leveraging relationships to achieve tremendous results. As current Chairman and former Chief Executive Officer of Passport Health Communications, Inc, Lackey led the company through rapid growth and expansion, to an organization that is now considered a powerhouse in Revenue Cycle Management.  Throughout his tenure, Lackey navigated Passport through multiple rounds of raising capital, including securing $232 million in its most recent recapitalization. Jim Lackey and David Iskowe tackled several ventures together over their careers, including stints together at Health America and Focus Healthcare, so combining forces to grow EnableComp and CHG was a natural next step.

“EnableComp seemed like an ideal opportunity to bring our collective experience full-circle,” explained Lackey. “We took a green-field approach to the company and assembled a management team of seasoned professionals from both healthcare and non-healthcare industries to develop and launch the company nationwide,” he continued. “We established an empowered culture from the beginning and know we can capitalize on the opportunities in front of us.  We believe that our product suite, particularly CompRecover, is positioned to deepen our penetration into other markets, especially in the Southeast.

The company’s management team is led by President David Jones, a nationally respected coach, consultant, and author, and thirty-year veteran from a Fortune 250 energy company.  Jones’ role is to improve and sustain performance at all levels within the organization and to harness and execute the vision of the company’s Board of Directors. In addition to Jim Lackey and David Iskowe, the company’s Board Members include Bob Yeager, co-founder and CEO for American Pathology Partners, and John Gillmor, Partner of Bradley Arant Boult Cummings. Casey West of SSM joins the Board as part of this transaction.

“ We are thrilled that our Board and management team not only recognize the value of what we are doing here at EnableComp and CHG, but that they are willing to invest in it,” said Lackey.  “Our vision, coupled with the experience of the team at SSM is a perfect fit for our organization.”

“We are excited about the leadership that Jim Lackey and his team provide” said Casey West, partner at SSM.  “We have had success together in the past and believe that the Company offers a great value proposition to its customers”

In addition to the continued growth of EnableComp, Complete Holdings Group plans to leverage its experience, industry intelligence, resources and proprietary technology to provide a variety of workers’ compensation revenue solutions to both providers and payers.  The new capital will help the Company exploit those opportunities more rapidly.