LifeMasters Supported SelfCare completes sale of its assets to StayWell Health Management

LifeMasters Supported SelfCare, Inc. ("LifeMasters") today announced that it has completed the sale of substantially all of its assets to StayWell Health Management. The sale was completed pursuant Section 363 of the bankruptcy code at an auction held on December 14, 2009. The bankruptcy court approved the sale order December 17 and the sale of assets is expected to close within three weeks.

"This transaction allows continuity for existing LifeMasters' customers and, since it was completed approximately 90 days after the Chapter 11 filing, it also provides for a timely financial recovery to creditors," said George D. Pillari, Managing Director of Alvarez & Marsal Healthcare Industry Group and Chief Restructuring Officer and President of LifeMasters.