MTS Health Investors, LLC, 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.
Source : http://finance.yahoo.com/