MTS Health Investors LLC said Monday it completed the sale of portfolio company, Loving Care Agency, and its parent company to Epic Health Services Inc. Financial terms weren’t announced. Hasbrouck Heights, N.J.-based Loving Care provides skilled nursing services to medically complex and fragile children in their homes and schools. Lincoln International advised Loving Care.
(New York, NY) February 23, 2015 – MTS Health Investors, LLC (“MTS”), a leading healthcare-focused private equity firm, announced that it has completed the sale of its portfolio company, Loving Care Agency (“LCA”) and its parent holding company, to Epic Health Services Inc. Based in Hasbrouck Heights, NJ, LCA provides skilled nursing services across seven states to more than 1,500 medically complex and fragile children in their homes and schools. Epic Health Services is a leading provider of pediatric skilled nursing and therapy services, as well as adult home health services.
“We are very proud and thankful for our partnership with LCA’s management team,” said Curtis Lane, Senior Managing Director of MTS. “The sale of LCA to Epic Health Services creates a market leading skilled pediatric nursing platform to better serve patients and their families while also delivering a terrific outcome for MTS’s investors.”
“I have thoroughly enjoyed partnering with MTS over the last several years to drive operational growth and deliver high quality care to our patients,” said Glen Cavallo, former CEO of LCA.
“We are proud of the accomplishments LCA and MTS achieved and believe LCA is well positioned as a market leader under Epic Health Services.”
Coincident with the close, LCA’s adult division will be spun off into a new operating entity separate from Epic Health Services, called Secura Home Health.
Lincoln International LLC Healthcare Investment Banking Group served as sole financial advisor, and McDermott Will & Emery LLP served as legal advisor, to LCA on the transaction.
MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS targets companies that provide cost-effective solutions in the services and low-technology manufacturing sectors of the healthcare industry. Industry sectors in which MTS invests include: providers of outsourced solutions to the healthcare industry; providers of direct medical services to patients in an institutional, ambulatory, or home setting; providers of managed care and other healthcare insurance services; distributors of medical products; and manufacturers of medical devices and supplies. For further information, please visit www.mtshealthinvestors.com.