Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Heart of Hospice, LLC (Heart of Hospice), a portfolio company of EPI Group, LLC (EPI Group), on its pending sale to LHC Group, Inc. (NASDAQ: LHCG; LHC Group). The transaction is being led by James Clark, Nick Owens and Michael Mahoney of the Harris Williams Healthcare & Life Sciences (HCLS) Group.
The acquisition is expected to close during the third quarter of 2021, subject to customary closing conditions.
“The Heart of Hospice team has built a tremendous organization with a deep commitment to serving its patients and providing the highest quality end-of-life care,” said James Clark, a managing director at Harris Williams. “It was a pleasure working with everyone at Heart of Hospice on this transaction, and we look forward to following the company’s growth and success as part of the broader LHC Group platform.”
“Hospice continues to be an attractive sector for investors and strategic buyers, with strong interest supported by underlying demographic tailwinds, expanding hospice utilization, a stable reimbursement environment and resilience through the COVID-19 pandemic,” added Nick Owens, a director at Harris Williams.
Heart of Hospice is a premier hospice platform in the Southeast providing hospice and palliative care services to end-of-life patients in 16 regions across Arkansas, Louisiana, Mississippi, Oklahoma and South Carolina. Heart of Hospice is a highly mission-driven organization and believes that all hospice-eligible patients and their loved ones deserve the best care at the end of life. The company was founded in 2014 via a partnership between EPI Group and CEO Carla Davis.
EPI Group is a family operating company based in Charleston, South Carolina. EPI Group and its wholly-owned subsidiary Evening Post Industries, Inc. began in 1896 as a single newspaper, and now the group owns and operates businesses in a variety of sectors throughout the country. EPI Group is an active acquiror, recently making investments in real estate, healthcare and media. EPI Group is dedicated to serving its customers, employees and communities with unconditional integrity, and promises to deliver the highest standards of service in every capacity it operates.
LHC Group is a national provider of in-home healthcare services and innovations for communities around the nation, offering quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. The company’s 30,000 employees deliver home health, hospice, home and community-based services, and facility-based care in 35 states and the District of Columbia – reaching 60% of the U.S. population aged 65 and older. As a preferred joint venture partner for almost 400 leading U.S. hospitals and health systems, LHC Group works in cooperation with providers to customize each partnership and reach more patients and families with an effective and efficient model of care.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK , registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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