New Century Hospice

Sep 9, 2020

September 09, 2020 09:00 AM Eastern Daylight Time NEW YORK--( BUSINESS WIRE )-- Edgemont Partners (“Edgemont”), a leading middle-market healthcare investment bank, announced that it served as exclusive financial advisor to Health Essentials, LLC d/b/a Remita Health (“Remita Health” or the “Company”), a portfolio company of SV Health Investors, Petra Capital Partners and Bessemer Ventures, in its sale to Bristol Hospice, a portfolio company of Webster Equity Partners (“Webster”) since November 2017. The transaction closed on September 4, 2020. Financial terms were not disclosed. The Edgemont deal team was led by Eugene Goldenberg , Managing Director, and Brandon Breslow, Vice President. The sale of Remita Health is Edgemont’s first hospice transaction since Eugene Goldenberg joined earlier this year to lead its investment banking franchise in post-acute services, distribution and staffing. Remita Health is also Edgemont’s third transaction with a Webster portfolio company in the last ten months, following the affiliation of Long Island Vitreoretinal Consultants (VRC) with Retina Consultants of America in January 2020 and CenExel Clinical Research’s acquisition of Research Centers of America in November 2019. Over the last four years, other marquee post-acute care transactions closed by Eugene Goldenberg include the: (i) sale of Alacare Home Health & Hospice to Encompass Health (NYSE: EHC), (ii) sale of Optimal Health Services to Bristol Hospice, (iii) sale of Jordan Health Services to Blue Wolf Capital Partners and Kelso & Co., (iv) sale of St. Croix Hospice to The Vistria Group, (v) sale of All Metro Health Care to One Equity Partners, and (vi) sale of New Century Hospice to Curo Health Services. Headquartered in Irvine, California, Remita Health is a leading regional hospice provider with six locations serving patients across Arizona, California and Nevada. Acquiring Remita Health further solidifies Bristol Hospice as the leading hospice provider in the state of California (the largest hospice market in the U.S.) by adding four service locations in Orange County, Northern Los Angeles, Central Los Angeles, and Inland Empire, and strategically expands the company’s geographic presence to two new states Nevada (Las Vegas) and Arizona (Tucson). About Remita Health Remita Health’s mission is to deliver compassionate patient-centered care with excellence and dignity. Based in Irvine, California, Remita Health delivers compassionate hospice and palliative care of the highest quality to those facing terminal illness. The Company is uniquely configured to engage with its partners, patients, and families to coordinate care, drive quality patient outcomes, and reduce costs, while providing education and support to caregivers, family members, and patients. Remita Health operates six hospice care locations across Arizona, California and Nevada. For additional information please visit: www.remitahealth.com About Bristol Hospice Bristol Hospice began operations in 2006 and is headquartered in Salt Lake City, Utah. Bristol Hospice has a long history of providing exceptional hospice care across the country. With this new acquisition it now operates 35 locations across 10 states including: AZ, CA, OR, HI, UT, CO, TX, GA, NV and FL. The Bristol Hospice 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 mission in ensuring that all patients and families who are entrusted to our care will be treated with the highest level of compassion, respect, and quality of care. For additional information please visit: www.bristolhospice.com About Webster Equity Partners Founded in 2003 and based in Waltham, Massachusetts, Webster is a leading private equity firm with a long history of partnering with leading healthcare services companies providing equity financing, expertise, and a broad contact network for management buyouts and growth capital. Webster is currently investing out of its fourth fund with $875 million of committed capital. Webster invested in Bristol Hospice in November 2017 with the goal of providing the highest quality hospice and palliative care services to meet the physical, psychosocial and spiritual needs of individuals at the end of life. For additional information please visit: www.websterequitypartners.com About Edgemont Partners Edgemont Partners is a premier healthcare investment bank, providing merger and acquisition advisory and capital raising services exclusively for healthcare companies. We focus solely on providing expert strategic advice and transaction execution, bringing a steadfast commitment to our clients, driven always by what is in the best interest of our clients. In our 19-year history, Edgemont has executed 160+ transactions with an aggregate transaction value in excess of $62B+. For more information on Edgemont and how we can best serve you, contact Ben Hughes at +1 (646) 632-3967, or visit our website at www.edgemont.com . Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC. Contacts