Towne Park Acquires Avascend Healthcare Hospitality

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Towne Park acquired Avascend Healthcare Hospitality in June 2009 and has officially announced the acquisition. This is Towne Park's third acquisition since 2005 and first vertical market - healthcare. Towne Park now serves the parking, hospitality and healthcare sectors specializing in hospitality services and parking solutions including valet parking, door and bell, concierge and parking management.

We are now positioned to drive greater value for our clients and provide a level of service unmatched in either the hotel or healthcare industry

Towne Park (http://www.townepark.com) announced the acquisition of Avascend Healthcare Hospitality (http://www.avascend.com) based in Overland Park, Kansas. The acquisition brings together two leading operators in the hotel and healthcare industries. The combined company specializes in valet parking, parking management, door, bell and concierge services with 6,000 associates serving more than 300 clients across 39 states nationwide.

"We are now positioned to drive greater value for our clients and provide a level of service unmatched in either the hotel or healthcare industry", said Jerry South, Towne Park's CEO and founder. "With the Avascend acquisition now complete, Towne Park is a stronger, more broadly based company than ever before, with increased capacity to reach new customers and the ability to provide current clients with added services."

"Our geographic coverage and strong guest/patient focus provides greater economies of scale and a more competitive service offering" said Frank Pikus, Avascend's CEO. "Both industries gain by having a stronger, stable, innovative partner ready to serve. The company's expanded national presence provides our markets with greater services, support and leadership."

About Towne Park:

Towne Park is the national leader of hospitality staffing and parking solutions providing valet parking, door and bell, and parking management services and systems. Towne Park serves over 200 luxury hotels and resorts in over 40 major markets nationwide.

About Avascend:

Avascend is a leader in hospitality and logistical solutions for the healthcare industry. Avascend offers compassionate service to hospital patients and visitors for over 120 clients nationwide.

Contact:

Suzanne Reese
Towne Park
800-291-6111 x8062
http://www.townepark.com

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Suzanne Reese
Towne Park
8002916111 ext. 8062
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