Webster Capital is putting Epic Health Services Inc up for sale, three sources said.
Goldman Sachs will run the auction, which is expected to start in the second half of this year, one of the sources said. Epic could sell for $800 million, said a different source, a banker.
Founded in 2001, Dallas, Texas-based Epic Health provides care to 42,800 medically fragile children and adults in 17 states including Colorado, New Jersey, Pennsylvania and Texas.
Epic last year bought Medco, Unifier Nursing, Option 1 Healthcare Solutions and Clarity Service Group. It also closed its acquisition of Loving Care Agency in February 2015.
Webster Capital invested in Epic Health in 2010. The PE firm invests in middle-market consumer and healthcare companies with EBITDA between $3 million to $15 million, according to its website.
Webster Capital is currently investing out of its third fund, which closed at $400 million in 2014, an October statement said. Fund III generated a 0.92x investment multiple as of March 31, data provider Bison said.
Webster Capital, based in Waltham, Massachusetts, is named after the founding partner’s dog, a Labrador retriever. In fact, a photo of Webster appears on the firm’s website.
Executives for Goldman and Webster declined comment. Epic could not be reached for comment.
Action Item: To contact Epic Health call 214-466-1340
Photo of nurse and child courtesy of Shutterstock