Arcapita has agreed to sell TLC Health Care Services Inc. to Amerdisys Inc. (Nasdaq: AMED), for an enterprise value of $395 million. TLC is a
Arcapita Inc., a leading private equity investment firm based in Atlanta, announced today that it and its affiliates have agreed to sell TLC Health Care Services, Inc. to Amedisys, Inc., a publicly traded company (Nasdaq: AMED), for an enterprise value of $395 million.
Founded in 1978 and headquartered in
“We are pleased to announce this agreement to sell TLC, the eleventh successful exit from our
Jack Draughon, leader of Arcapita's healthcare investment practice, added, “This is a proud day for the TLC management team. Three years ago, we partnered with them to purchase the TLC assets out of bankruptcy, and this agreement is a validation of their vision and execution. On completion, the TLC sale will represent the fourth successful exit from Arcapita's healthcare investment practice.”
“The TLC management team has enjoyed a very constructive relationship with Arcapita over the past three years,” stated TLC Executive Chairman Ed Casas. “During this time, we have successfully executed our business plan, and are pleased that Amedisys, a market leader, is recognizing the value that we have created. We are excited about this opportunity to join Amedisys, which we believe is a good platform for further growth of our business.”
Navigant Capital Advisors provided consulting and advisory services to TLC and King & Spalding served as legal advisor on the transaction.
Arcapita is a global investment group with offices in
Amedisys is a leading provider of home healthcare and hospice services, with agencies located across the