CIT Backs Webster’s Portfolio Company Epic Health Services

CIT Backs Webster’s Portfolio Company Epic Health Services

cit NFCIT Corporate Finance served as Sole Lead Arranger in a $110 million senior secured facility for Epic Health Services, a provider of pediatric home health services and a portfolio company of Webster Capital.

Epic Health Services is a provider of pediatric home health and therapy services as well as geriatric in-home services. Along with its Freedom Home Healthcare segment, the company provides services to over 6,000 clients across five states. The company was founded in 2001 and is based in Dallas (

“Epic Health Services has had a strong track record and solid growth in recent years,” said Steve Warden, President of CIT Corporate Finance – Healthcare. “We are pleased to build upon our established relationship and arrange this financing, which further underscores our ability to put our deep industry knowledge to work for our middle market healthcare clients.”

This is CIT’s second transaction with Epic Health Services and Webster Capital. In December 2012, CIT Corporate Finance – Healthcare served as Sole Lead Arranger, Bookrunner and Administrative Agent in a $90 million senior secured financing to support Epic Health Services’ acquisition of Santé Pediatric Services and AmeriCare.

“Epic has experienced significant growth over the last few years as we’ve expanded our pediatric and adult homecare services in Delaware, Massachusetts, New Jersey, Pennsylvania and Texas. CIT Healthcare understands our business and has been a key partner in supporting our growth strategy and we look forward to continuing our relationship,” said John Garbarino, President and CEO of Epic Health Services.

Webster Capital invests in branded consumer, business- to-business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values less than $100 million. Webster was founded in 2003 and is based in Waltham, MA (

“CIT’s experience and expertise in working with middle market private equity firms and their portfolio companies is unparalleled in the industry. Their ability to provide innovative financing solutions and services is why we value and nurture this long-term relationship,” said
David Malm, Senior Partner and head of Webster Capital’s Healthcare practice.

CIT Corporate Finance provides lending, leasing and other financial and advisory services to the small business and middle market sectors with a focus on specific industries, including: chemicals, commercial real estate, communications, energy, entertainment, gaming, healthcare, industrials, information services & technology, restaurants, retail, and sports & media ( The corporate finance group is part of CIT, a bank holding company with more than $35 billion in assets. CIT was founded in 1908 and is based in New York (

© 2013 PEPD • Private Equity’s Leading News Magazine • 11-19-13

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