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Nova Capital Management Expands Into United States
specialist management company takes on first portfolio in US


January 13, 2005 -- Nova Capital Management (“Nova”) is building on its success in Europe as the specialist management company for private equity and venture capital portfolios, with the opening of an office in the United States. Nova is launching the office with the announcement of its first deal in the US and two senior hires to manage the business.

Nova has acquired the partnership interests of Atlantic Medical Capital LP; a $80 million portfolio of healthcare assets. The acquired portfolio includes investment positions in Quovadx, a Nasdaq quoted enterprise software company and NotifyMD, a message handling service provider for over 17,000 medical practitioners in the US.

Funding for this deal was provided by Caledonia Investments plc, a strategic shareholder in Nova.

Nova is pleased to announce that Dennis Powers and Samir Assaad have joined the firm to manage the portfolio.

Dennis has had extensive experience as a senior operating line manager and management consultant in developing and restructuring organisations to improve performance. Early in his career he was a consultant for McKinsey & Company in New York and London. Over the next 20 years he gained extensive operating experience as General Manager, President and/or CEO of a number of manufacturing divisions of Occidental Chemical, Quixote, Kidde-Fenwal and HoltraChem.

Samir joins Nova from Vivendi Universal where he was responsible for the restructuring and disposal of their digital media and technology portfolio in the US. Prior to that he had a career in investment banking with Citibank and JPMorgan. He is a graduate of Wharton.

Nova is committed to building a significant US business on the back of the Atlantic transaction.

David Williamson, Managing Director of Nova commented: “We are delighted to be managing the Atlantic Medical Fund. We believe Dennis and Samir will add value to this portfolio and others. The US market is a great opportunity for Nova as the private equity and venture capital markets undergo significant structural change. Our active management approach is increasingly what the market needs and wants to achieve superior returns.”

Nova was advised by Winchester Capital and Kaye Scholer
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Publisher Contact Information:

Nova Capital Management Ltd
+44 (0) 870 420 3212
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