Management - Disciplined, aggressive management teams with relevant experience and teams that will benefit financially from the success of their companies.

Business Concept - A well-formulated business model that addresses product development, competition, distribution and market dynamics, and which demonstrates economic success.

Competitive Advantage - A significant price, performance or lead-time advantage over competing technologies and businesses. The advantage can arise from a proprietary market position, management expertise, technology or product base. A competitive advantage which allows extraordinary operating margins over a significant period of time.

Market - A minimum market size of $50 million with domestic and international potential to allow for significant growth in sales and earnings.

Investment Valuation - Should reflect the risk of the investment and be consistent with the HMS’ investment objectives of achieving an exceptional long-term return.

Exit Strategy - HMS gives specific consideration to the available choices for realizing the portfolio company’s gain in value.