Bristol Hospice, a portfolio Company of Webster Capital, has acquired Optimal Health Services, a hospice provider in California. No financial terms were disclosed.
PRESS RELEASE
Salt Lake City, Utah (July 13th, 2018) – Bristol Hospice, a portfolio Company of Webster Capital, is pleased to announce its acquisition of Optimal Health Services (“Optimal” or the “Company”), the largest privately-held hospice provider in California.
In November 2017, Webster Capital acquired Bristol Hospice, a multi-regional provider of hospice and palliative care services to meet the physical, psychosocial and spiritual needs of individuals at the end of life. The Company is headquartered in Salt Lake City, Utah and has 11 locations across seven states. Bristol partners with national organizations and academic institutions to develop its best-in-class compliance programs and processes.
Established in 1992 and headquartered in Bakersfield, California, Optimal is a provider of hospice and home health services to an average daily census of 1,100+ patients across 8 hospice and 2 home health locations in California.
“Optimal is an experienced operator in the California market and we are excited to partner with an organization that has the same commitment to providing an exceptional patient and patient’s family experience,” said Hyrum Kirton, CEO of Bristol Hospice. “The combined organization’s deep industry experience and knowledge of the hospice and home health market will allow us to continue scaling quickly and drive superior operating performance in the coming years.”
Optimal CEO Doug Clary said “Bristol has a strong focus on providing high quality, compassionate care and support to their patients and patients’ families and caregivers, so we believe they are an excellent fit with our organization. In addition, their geographic presence in California, which includes offices in Merced, Sacramento and Stockton, is nearly a perfect match with Optimal’s locations and increases our combined coverage of the state. The enhanced leadership from the combination of these two providers will be invaluable as we continue expanding.”
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm that invests in the branded consumer and healthcare services industries and provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. Webster is currently investing its third fund and has raised over $900 million of capital. For additional information on Webster Capital, please visit www.webstercapital.com.
About Bristol Hospice
Bristol Hospice operates and manages hospice programs in seven states. The Bristol Programs are designed to promote quality and comprehensive hospice services to patients and families in the communities they serve. The Bristol leadership is committed to the company’s vision and mission in the delivery of our hospice services. The Company holds firm to its values and mission – Embracing a Reverence for Life. For additional information on Bristol please visit www.bristolhospice.com.
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