UPDATE: National General Holdings Corp. Announces Acquisition of Healthcare Solutions Team, LLC

National General Holdings Corp.

today announced that it has closed upon the acquisition of Healthcare Solutions Team, LLC ("HST"), an Illinois based healthcare insurance managing general agency, for cash consideration. The purchase price for the transaction includes an upfront cash payment of $15 million and potential future earn out payments based on HST's overall profitability. Michael Karfunkel, Chairman and Chief Executive Officer of National General, stated: "We are excited about the addition of HST to our growing A&H division. HST has a strong track record of growth and profitability in products consistent with and complementary to our current portfolio, and provides a broad distribution platform which we can leverage to further grow our existing business. We look forward to working with the HST team, led by co-founding partners Grant Born and Joseph Eichman, on the integration of this transaction. We expect the transaction to be immediately accretive to earnings."