The Halifax Group & J.W. Childs announce the sale of Universal Hospital Services, Inc. to Bear Sterns Merchant Banking

DALLAS, TX – June 4, 2007 – The Halifax Group (“Halifax”) and J.W. Childs (“JWC”) announced today their successful exit from Universal Hospital Services, Inc. (“UHS”) to Bear Sterns Merchant Banking (“BSMB”) for $712 million. Halifax in partnership with JWC and management acquired UHS in October 2003, in a recapitalization transaction. UHS, headquartered in Edina , Minnesota , is the nation’s largest medical equipment lifecycle services company with more than 75 offices serving customers in all 50 states and the District of Columbia.

Over the course of the investment, UHS launched numerous initiatives that grew revenues and profitability including broadening its service offering to provide a complete equipment lifecycle solution, as well as making substantial investments in new equipment.

“J.W. Childs and Halifax have been terrific partners for us over the past three years,” said Gary Blackford, UHS’ Chairman and CEO. “Their involvement and support of our growth strategy has created a great deal of value for our investors and opportunities for the future of UHS.”

CIBC and Goldman Sachs served as the exclusive financial advisors to UHS. Kaye Scholer, LLP served as the exclusive legal advisor to UHS.

About The Halifax Group

The Halifax Group is a private equity firm specializing in management-led recapitalizations and leveraged buyouts in lower middle-market growth companies across a variety of industries. Halifax has $505 million of capital under management.

About J.W. Childs

J.W. Childs Associates, L.P. (“JWC”) is a private equity firm based in Boston, Massachusetts specializing in leveraged buyouts and recapitalizations of middle-market growth companies. JWC currently invests through J.W. Childs Equity Partners III, L.P., an investment fund with total committed capital of $1.75 billion.

About Universal Hospital Services, Inc.

Universal Hospital Services, Inc. is a leading medical equipment lifecycle services company. UHS offers comprehensive solutions that maximize utilization, increase productivity and support optimal patient care resulting in capital and operational efficiencies. UHS currently operates through more than 75 offices, serving customers in all 50 states and the District of Columbia.