March 23, 2011

News Release
Contact:
Eric Earnhart, Carilion Clinic
540-224-4966

CARILION CLINIC ANNOUNCES LEADERSHIP TRANSITION

President and CEO Edward Murphy, M.D. will step down June 30;
COO Nancy Howell Agee named successor

ROANOKE, Va.,(March 23, 2011) – Nancy Howell Agee will become President and Chief
Executive Officer of Carilion Clinic on July 1, 2011, succeeding Edward Murphy, M.D., who is
stepping down to take positions with an investment firm and physician company (see
accompanying news release announcing Dr. Murphy’s new appointments).

“We are greatly appreciative of Dr. Murphy’s work and the milestones we have achieved
during his tenure,” said James Hartley, chairman of the Carilion Clinic Board of Directors. “Our
organization is fortunate to have someone of Nancy Agee’s caliber to take the lead. As one of
the architects of our vision with more than 30 years of service to our employees, patients, and
communities, she will continue our growth and focus on improving health and patient-centered
care.”

Agee holds degrees with honors from the University of Virginia and Emory University.
She began her career in nursing at Carilion, serving in various management roles over the past
20 years. In 1996 she was appointed Vice President Medical Education. In 2000 she became
Senior Vice President of the organization, advancing to Executive Vice President and Chief
Operating Officer in 2001. At the beginning of 2011, Agee was appointed President and
CEO of Carilion Medical Center, Carilion’s Roanoke-based hospital services. She will officially
begin her role as President and Chief Executive Officer on July 1, 2011.

“This is a unique organization, with truly remarkable people, and I am honored to have
this opportunity,” Agee said. “I still remember the faces of my patients back in 1973 and as I see
our patients today I know that even with new technology, new facilities and a new medical
school our core mission remains the same – providing high-quality, coordinated, compassionate
care tailored to meet the individual needs of our patients every day.”

Agee has been at the forefront of the successful 2006 initiative to reorganize Carilion into
a patient-centered clinic, working to develop a leadership infrastructure of physicians. She says
both employed and private physicians will continue to play a key role in the organization’s
success.

“I am grateful for the leadership of our physicians, whose energy and insight are driving
meaningful advances in treatment and improvement in quality,” Agee says. “I look forward to
working with them as we continue our commitment to establishing new standards for patient-
centered care.”

Plans for Agee’s successor as Chief Operating Officer of Carilion Clinic are currently
under development.

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About Carilion Clinic
Carilion Clinic is a not-for-profit health care organization serving nearly one million people in
Virginia through hospitals, outpatient specialty centers and advance primary care practices. Led
by multi-specialty physician teams with a shared philosophy that puts the patient first, Carilion is
committed to improving outcomes for every patient while advancing the quality of care through
medical education and research. For more information, visit www.carilionclinic.org/about.
March 23, 2011
News Release
Contact:
Eric Earnhart, Carilion Clinic
540-224-4966
Gemma Hart, TowerBrook Capital Partners
212-333-3810
Daven Rosener, Sound Physicians
253-284-1890

CARILION CLINIC CEO TAKES NEW POSITION

Edward Murphy, M.D. teams with TowerBrook Capital Partners and becomes Chairman of
Sound Physicians effective July 1

ROANOKE, Va.,(March 23, 2011) – Carilion Clinic President and CEO, Edward Murphy, M.D.
will step down June 30, 2011 to work with TowerBrook Capital Partners L.P., a New York- and
London-based investment firm, as well as become Chairman of the Board of Sound Physicians.
The Carilion Clinic Board of Directors has appointed Chief Operating Officer Nancy Howell Agee
as the new President and CEO of the organization, effective July 1. (see accompanying news
release regarding Ms. Agee’s appointment).

Dr. Murphy joined Carilion in 1998 as Chief Operating Officer, and became President and
CEO in 2001. Among his numerous accomplishments, he led the organization through its
transition from a hospital-based system to a multi-specialty clinic, including more than 600
physicians, hospitals and outpatient centers serving a million people in Virginia. The
reorganization, focused on quality, safety and patient-centered care, laid the foundation for
Carilion Clinic’s current groundbreaking work on an Accountable Care Organization. In addition,
Dr. Murphy was instrumental in the creation of the Virginia Tech Carilion School of Medicine.

“Through Dr. Murphy’s leadership, we have taken a quantum leap forward in the delivery
of care and will continue on this path to provide the best possible service to our patients”, said
James Hartley, Chairman of Carilion Clinic’s Board of Directors.

Dr. Murphy will work with TowerBrook to acquire and develop businesses to assist
physicians, hospitals and health care delivery systems with:
• physician management
• physician/hospital alignment and clinical coordination
• services needed for the development of Accountable Care Organizations (ACOs)

Dr. Murphy will also join the Board of Sound Physicians as Chairman. Sound Physicians
is a leading provider of hospitalist physician services focused on driving improvements in
quality, satisfaction and efficiency of inpatient healthcare delivery.

“The decision to leave Carilion was difficult, but the time is right”, Dr. Murphy says. “At
Carilion, the building blocks for successful transformation are in place, especially in light of our
new relationship with Aetna. The organization is in good position to move forward with excellent,
stable leadership. This opportunity with TowerBrook and Sound Physicians will allow me to
work on hospital/physician integration and ACO development, nationally.”

“We are excited to work with Dr. Murphy,” said TowerBrook Managing Director Ian Sacks.
“Dr. Murphy’s experience on the leading edge of healthcare integration and alignment will be an
invaluable asset to TowerBrook in our health care endeavors.”

“Dr. Murphy is one of a handful of people at the forefront of the national transition in
health care,” said Robert Bessler, M.D., Founder and Chief Executive Officer of Sound
Physicians. “His experience and insight will help Sound Physicians maintain and enhance its
focus on integrated, quality-focused patient care.”

Dr. Murphy will continue to serve on the Board and remain on the faculty of the Virginia
Tech Carilion School of Medicine.
###
About Carilion Clinic
Carilion Clinic is a not-for-profit health care organization serving nearly one million people in
Virginia through hospitals, outpatient specialty centers and advance primary care practices. Led
by multi-specialty physician teams with a shared philosophy that puts the patient first, Carilion is
committed to improving outcomes for every patient while advancing the quality of care through
medical education and research. For more information, visit www.carilionclinic.org/about.

About TowerBrook
TowerBrook Capital Partners L.P. is an investment management firm with approximately $5
billion of capital under management. With offices in New York, London and San Francisco, the
firm focuses on making investments in North America and European companies. TowerBrook
primarily pursues control-oriented private equity investments in large and middle market
companies, partnering with highly capable management teams, often in situations characterized
by complexity. For more information, visit www.towerbrook.com.

About Sound Physicians

Sound Physicians is a leading hospitalist organization focused on driving improvements in
quality, satisfaction and efficiency of inpatient health care delivery. By investing deeply
in outstanding physicians, implementing clinical process excellence and developing
proprietary workflow and informatics technology, Sound Physicians is defining hospital
medicine. Sound Physicians seamlessly partners with healthcare providers to
measurably enhance patient outcomes and strengthen the hospital’s financial
performance. To learn more visit: www.soundphysicians.com.