Epic Health Services said Tuesday it acquired Option 1 Healthcare Solutions. Financial terms weren’t announced. Chandler, Arizona-based Option 1 is an enteral nutrition provider. Epic Health is a portfolio company of Webster Capital. UPDATE: Thompson Street Capital Partners is the seller. Livingstone Partners advised Thompson in the sale of Option One.
DALLAS, Sept. 8, 2015 /PRNewswire/ — Epic Health Services Inc., a portfolio company of Webster Capital and Dallas-based provider of pediatric skilled nursing and therapy, announced today that it has acquired Option 1 Healthcare Solutions, the leading enteral nutrition provider in the Western United States based in Chandler, Arizona.
The acquisition marks a new service line for Epic, which provides private duty nursing and therapy for children, many of whom require feeding tubes. Epic can now provide this life-sustaining nutritional therapy, including supplies and formula, to these patients.
“Our goal was to unite with another leading pediatric provider that serves medically fragile children so we could better serve our patients and coordinate their care even more effectively,” said Epic President and CEO Chris Roussos. “As we seek to be the home health care provider of choice in this country, joining forces with Option 1 strengthens our ability to provide comprehensive, full-service and convenient care to patients and families. Epic is the only pediatric care provider dedicated to providing this full continuum of care.”
Previously operating in 12 states, Epic will add Washington, Oregon and Nevada to its service territory. Option 1 serves more than 6,300 patients across six states. Combined, the two companies will serve approximately 26,000 patients.
“The acquisition will be an accelerant for both companies’ growth trajectories,” said Option 1 CEO Rick Winterich. “It will introduce both Option 1 and Epic to new markets and allow us to deliver our services to an increased number of children who need care.”
Moving forward, Option 1 Healthcare Solutions will be a subsidiary of Epic and will maintain its headquarters in Chandler. Option 1’s management team will also remain in place.
About Option 1 Healthcare Solutions
Option 1 Healthcare Solutions is the leading enteral nutrition provider in the Western United States and combines outstanding patient care services, clinical excellence, and a wide variety of complementary products to support patients in their ongoing therapies and transition into the home environment. Option 1’s primary responsibilities are to patients and their families and the healthcare providerswho partner with the company. By meeting their needs exceptionally well with prompt and consistently outstanding service and continuity of care, Option 1 cultivates these relationships and is proud to be recognized as the leader in home enteral nutrition (HEN) therapy through their patient-centric service model, clinically-focused care, and personalized monthly service delivery.
About Epic Health Services
Epic Health Services was founded in 2001 and has since become a leading national provider of pediatric skilled nursing, therapy, and autism services, as well as a spectrum of adult home health care services. Success in health care requires the delivery of exceptional care that meets the needs of patients, families, payers, regulatory agencies, and society. By maintaining a focus on quality care, extraordinary customer service, and compliance, Epic continues to grow and serve even more patients. For further information, please visit www.epichealthservices.com.
About Webster Capital
Founded in 2003, Webster Capital is a private equity partnership which helps companies unlock their potential. Webster focuses on branded consumer and healthcare services companies with EBITDA between $3 million to $15 million. Webster Capital provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. At present, Webster has $600 millionunder management and is currently investing Fund III, a $400 million fund raised in 2014. For additional information on Webster Capital, please visit www.webstercapital.com.