ATLANTA – Jan. 17, 2017 – International law firm Greenberg Traurig, LLP is advising PSA Healthcare, Inc. (“PSA”) , a portfolio company of J.H. Whitney Capital Partners, on its definitive merger agreement to be acquired by a newly-formed affiliate of Bain Capital Private Equity. In December, Bain Capital Private Equity announced its entry into an agreement to acquire Epic Health Services. As a result of the transactions, PSA and Epic Health Services will combine to form a preeminent provider of pediatric home health care services. Financial terms of the transactions were not disclosed.
Under the agreement announced today, the current equity holders of PSA, including its senior management team and J.H. Whitney Capital Partners, its current majority owner, have agreed to roll over their current ownership interests into the newly-formed affiliate that will bring together world class management of two of the nation’s leading, comprehensive pediatric home care providers.
The new, combined leadership would be led by current PSA Chairman Rod Windley as Executive Chairman, current PSA Chief Executive Officer Tony Strange as Chief Executive Officer, and several members of the current Epic Health Services senior management team. Greenberg Traurig has represented the PSA management team in three different large healthcare companies.
The Epic Health Services and PSA transactions are expected to close late in the first quarter of 2017, subject to certain regulatory approvals and satisfaction of other customary closing conditions as to each company.
Based in Atlanta, Georgia, PSA Healthcare has been a recognized leader in pediatric and adult home care for more than 30 years, according to its website. PSA has more than 75 locations in 16 states, including Florida, Georgia, Pennsylvania, Colorado, Texas and Louisiana. A privately owned company, PSA is dedicated to providing Trusted Care with compassion, quality, and clinical excellence.
Epic Health Services was founded in 2001 and has since become the leading national provider of pediatric skilled nursing, therapy, developmental services, and home medical solutions, including enteral nutrition, respiratory, pharmacy, and medical supplies, according to its website. Epic also provides a spectrum of adult home healthcare services, including skilled nursing, therapy, personal care, behavioral health nursing, enteral nutrition, and medical supplies.
The Greenberg Traurig deal team was led by Corporate & Securities Shareholder Gary E. Snyder. The team included Drew M. Altman, Miami, Corporate & Securities, Shareholder; Ronald W. Eisenman, Atlanta, Corporate & Securities, Shareholder; Harry J. Friedman, Fort Lauderdale, Tax, Shareholder; Stacey O. Gallant, Atlanta, Corporate & Securities, Shareholder; Michael L. Malone, Dallas, Health & FDA Business, Shareholder; Stephen M. Pepper, New York, Antitrust Litigation & Competition Regulation, Shareholder; Gabrielle N. DiBernardi, Atlanta, Corporate & Securities, Associate; Eric M. Preston, Atlanta, Corporate & Securities, Associate; Ian K. Neubauer, Atlanta, Corporate & Securities, Associate; and Lindzi M. Timberlake, Dallas, Health & FDA Business, Associate.
Dechert LLP served as legal advisor to J.H. Whitney. Kirkland & Ellis LLP served as legal advisor to Bain Capital Private Equity.
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