Synertech Adds 20,000-Member Health Plan Focused On Growing Senior Market

Business Wire, Nov 7, 2002

Business Editors/Hi-Tech Writers

HARRISBURG, Pa.--(BUSINESS WIRE)--Nov. 7, 2002

Synertech(R), a Platinum Equity company that is a premier application services provider and business process outsourcer to the health care payer industry, today announced that Olympic Health Management Systems Inc., Bellingham, Wash., is the company's newest ASP customer.

Under terms of the agreement, Synertech will host the QMACS claims processing platform, as well as several third-party package add-ons, in its Harrisburg data center. Olympic will remotely access the systems from its Washington headquarters. In addition, Synertech will image and archive claims for Olympic and provide implementation services and ongoing maintenance and support.

Olympic Health Management Systems is the administrative services provider for products related to Medicare for a number of national insurers, including its sister companies, Sterling Life Insurance Co. and Combined Insurance Co. of America. Olympic is Synertech's first customer to exclusively focus on the Medicare niche of the health care payer industry.

"Olympic's focus on the senior market allows us to apply our expertise in health care to help them better serve this growing population," said Steve Rock, president and chief executive officer of Synertech. "In addition, Olympic is able to leverage the benefits of application hosting to provide cost-effective services to their customers."

To meet Olympic's business needs and ensure customer satisfaction, Synertech has agreed to strict performance standards attached to incentives and penalties.

"Synertech's commitment to its customers and ability to customize solutions are the main reasons we selected them for our application hosting needs," said Debbie Ahl, president and chief executive officer for Olympic. "We look forward to working with Synertech's team and benefiting from its many value-adds and commitment to service excellence."

Synertech

Synertech (www.synertechsystems.com), incorporated in 1986, is a premier application services provider and business process outsourcer to the health care payer industry. Synertech offers application hosting; scanning and imaging services; claims and administrative processing; and consulting and implementation services.

Synertech supports a multi-million-membership base through its outsourcing, application services and system maintenance customers that do business in the commercial, Medicaid and Medicare markets, including new delivery models such as defined contribution plans. Synertech, which is a Microsoft Certified Partner, has offices in Harrisburg, Pa., and Bloomington, Minn.

It is owned by Platinum Equity.

Platinum Equity

Platinum Equity (www.peh.com) is a global acquisition firm uniquely specialized in the operation of mission-critical technology companies. Since its founding in 1995, Platinum has completed 40 privately funded transactions, leveraging a multi-billion-dollar revenue base derived from the continued growth of its portfolio.

With an established infrastructure in North America, Europe, Asia and South America, Platinum employs a workforce of more than 15,000 serving over 500,000 customers worldwide.

Olympic Health Management

Olympic Health Management (www.ohmsystems.com) specializes in the development, marketing and administration of insurance products that supplement or replace the coverage provided by Medicare. Olympic is known as an innovator in the Medicare arena and was instrumental in developing the nation's first Medicare Choice Private Fee For Service Plan, Sterling Option I(SM).

This plan now spans 25 states. Olympic also administers Medicare Select programs for several national insurers.