CHRISTOPHER N.

CALTON EXPERIENCE 20033-Present AVONDALE PARTNERS, LLC Nashville, TN Director Investment Banking Assisted in the creation of investment banking department for start-up, full se rvice brokerage firm focused on healthcare and related industries Transaction experience in a broad range of healthcare segments including acute care, behavioral health, post-acute care, medical equipment and healthcare IT Advised clients regarding development of M&A strategy, identification of acquis ition opportunities and negotiation with potential targets Provided strategic M&A advisory services to corporations, including: - Advisor to Puresafety in its acquisition of Occupational Health Research; - Advisor to Gwinnett Health System in sale of behavioral health assets to Unive rsal Health System; - Advisor to HealthSouth in the sale of its Australian rehabilitation assets to Epworth and ING Real Estate Executed underwritings for initial public and follow-on offerings and private p lacement transactions by drafting offering documents, creating management presen tations and drafting legal documentation, including: - $230M follow-on offering for Triad Hospitals, Inc. - $30M follow-on offering for Luminex, Inc. - $40M recapitalization of Behavioral Centers of America 2000-2002 THOMAS WEISEL PARTNERS, LLC New York, NY and San Francisco, CA Associate Mergers & Acquisitions Advised leading technology and life science tools companies regarding corporate acquisitions, divestitures and other strategic transactions Conducted all aspects of M&A transaction process including due diligence, draft ing of offering memoranda, preparation of management presentations and legal doc umentation Designed and executed business plan for banking coverage of the defense technol ogy industry 1999 CRAMER ROSENTHAL McGLYNN LLC New York, NY Associate Private Equity Analyzed investment opportunities in late-stage private companies and public co mpanies for private equity arm of $7 billion asset management firm Performed business, industry, and valuation analysis, conducted extensive due d iligence and assisted in negotiation process on all transactions Completed principal investments include: * $15 million common stock investment in PetroQuest Energy Corporation * $18 million convertible preferred stock investment in RailAmerica 1995-1998 ROBERTSON STEPHENS & COMPANY San Francisco, CA Associate Equity Research Constructed financial models to reflect historical and future profitability of companies in restaurant and hospitality industries and authored comprehensive re search reports EDUCATION 1998-2000 COLUMBIA UNIVERSITY GRADUATE SCHOOL OF BUSINESS New York, NY Masters of Business Administration May 2000 1989-1993 WASHINGTON & LEE UNIVERSITY Lexington, VA Bachelor of Arts in East Asian Studies with concentration in Finance, June 1993 Fall 1992 KANSAI GAIDAI UNIVERSITY Osaka, Japan Selected by Asian Studies department to participate in direct exchange program, lived with Japanese homestay family and attended classes taught in English and

Japanese ADDITIONAL Series 7 and Series 63 Registered Representative Board of Directors, Nashville Entrepreneur Center Alumni Board, The Baylor School