The Shuman Law Firm Investigates Health Grades, Inc.

The Shuman Law Firm today announced that it is investigating potential claims against the board of directors of Health Grades, Inc. (“Health Grades” or the “Company”) (NASDAQ: HGRD) related to the Company’s agreement to be acquired by private equity firm Vestar Capital Partners V, L.P. (“Vestar”). The proposed all-cash transaction is valued at approximately $294 million.

Under the terms of the agreement entered into by the parties, a subsidiary of Vestar will commence a tender offer no later than August 10, 2010, to acquire all of the outstanding shares of Health Grades for $8.20 per share in cash. Certain executive officers of Health Grades who beneficially own approximately 21% of Health Grades’ fully diluted shares have entered into agreements to support the transaction and to tender or otherwise sell shares to Vestar’s affiliate. Upon completion of the tender offer, the Vestar subsidiary will acquire all of the remaining publicly held shares of Health Grades at $8.20 per share through a second-step merger. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Health Grades’ board of directors.

If you currently own shares of Health Grades and are interested in discussing your rights as a Health Grades shareholder, or have information relating to this investigation, please contact Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Glenn at rusty@shumanlawfirm.com.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.

Health Grades, Inc. (MM) (NASDAQ:HGRD)
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