Epic Health Services Inc., a portfolio company of Webster Capital, has agreed to buy the parent company and pediatric unit of Loving Care Agency. No financial terms were disclosed for the transaction that is expected to close in February. Based in Hasbrouck Heights, NJ, LCA is a provider of pediatric and adult home health care services.
DALLAS, Jan. 12, 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 entered into a definitive agreement to acquire the parent company and pediatric division of Loving Care Agency, Inc. (LCA), a provider of pediatric and adult home health care services based in Hasbrouck Heights, New Jersey.
The combination of Epic Health Services and Loving Care Agency will create a leading pediatric health care company serving patients in 10 states, including Texas, Pennsylvania, Massachusetts, New Jersey, Missouri, Indiana, Delaware, Arizona, Illinois and Colorado.
“We are excited to announce this entrance into four new states as part of our long-term service expansion initiative,” said John Garbarino, Epic executive chairman. “We look forward to working closely with the excellent professionals at Loving Care who have built the company into the respected provider that it is today.”
The two like-minded companies are both dedicated to extraordinary service, as well as expanding and enhancing the care they provide.
“We think that together we can do a better job serving our communities than we could do apart,” said Epic President and CEO, Chris Roussos.
Today, LCA’s pediatric division serves more than 1,500 patients in seven states, and Epic provides care to more than 6,000 patients throughout its service area.
“LCA has always been dedicated to enriching the lives of others by being responsive to the needs of the people living in our communities,” said LCA President and CEO Glen Cavallo. “That’s why we’re excited about LCA’s integration into Epic. This takes our mission to the next level with the resources and services necessary to better serve our patients and their families.”
The transaction is expected to be completed in February following satisfaction of customary closing conditions. Coincident with close, the current LCA adult division will be spun off into a new operating entity separate from Epic Health Services.
About Loving Care Agency
Loving Care Agency, headquartered in Hasbrouck Heights, New Jersey, is one of the largest providers of pediatric homecare in the country, as well as the largest provider of home health aide services throughout New Jersey. Both of Loving Care’s service lines enable patients to remain in the comfort of their own homes and represent a more cost-effective alternative to facility-based care. Loving Care’s pediatric division provides skilled nursing services to medically fragile and complex children in their homes and schools. The home health aide division assists patients, most of whom are either elderly or disabled, with activities of daily living, such as bathing, dressing, walking and meal preparation. For further information, please visit www.lovingcareagency.com.
About Epic Health Services
Epic Health Services was founded in 2001 and has since become a leading provider of pediatric skilled nursing and therapy services, as well as adult home health services, including skilled nursing, therapy, personal care and behavioral health nursing. Success in health care requires the delivery of exceptional care that meets the needs of patients, families, payers and society. By maintaining a focus on quality care and extraordinary customer service, 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 of between $3 million to $15 million. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital. For additional information on Webster Capital, please visit www.webstercapital.com.