Epic Health Services, a portfolio company of Webster Capital, has acquired Rehabilitation Associates, a provider of pediatric therapy services based in Virginia.
Rehabilitation Associates is the largest private pediatric therapy provider in Virginia and provides occupational, physical and speech therapy, as well as ancillary services such as special instruction, and service coordination. The company serves about 3,000 children each year and has clinics in Hampton, Richmond and Virginia Beach, VA (www.rehabilitationassociates.com). Rehabilitation Associates was founded in 1986 and is led and co-owned by Sherry Johnson and Tracy Miller. The management team and therapists at Rehabilitation Associates will remain with the company post closing.
“Epic has a strong presence in pediatrics and understands the importance of providing the highest quality service to patients and their families,” said Ms. Miller, co-director and co-owner of Rehabilitation Associates. “We share a common patient-centric perspective, which makes the union of our two companies an ideal scenario.”
Epic Health Services is a provider of pediatric home health and therapy services as well as adult home health services. Epic provides care to more than 42,000 patients and its services include nursing, therapy, personal care and behavioral health nursing. With the purchase of Rehabilitation Associates, Epic now serves patients in 17 states. Epic was founded in 2001 and is led by Chris Roussos, president and CEO. The company is based in Dallas (www.epichealthservices.com).
Webster Capital invests in branded consumer, business-to-business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values from $20 million to $100 million. At present, Webster has $600 million under management and is currently investing its third fund which closed in 2014 with $400 million in capital commitments. The firm was founded in 2003 and is based in the Boston suburb of Waltham (www.webstercapital.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-12-16
