Edge Healthcare Partners is pleased to announce that Avalon Health Care, Inc. (“Avalon”), a leading provider of post-acute healthcare services, has sold its subsidiary, Bristol Hospice, LLC (“Bristol” or the “Company”), a leading multi-regional provider of hospice care, to Webster Capital (“Webster”). The terms of the transaction, which closed on November 30, 2017, were not disclosed. Edge Healthcare Partners originated the transaction and served as the exclusive financial advisor to Avalon.
“We are excited to partner with Webster Capital to continue our mission to become the provider of choice for hospice and palliative care in all of the markets we serve,” said Hyrum Kirton, CEO of Bristol. “The team at Edge Healthcare Partners was instrumental in our strategic planning and evaluation process. The combination of their extensive industry knowledge, long-term relationships and dedication have helped prepare Bristol for its next phase of growth.”
“We were honored to represent a company with a reputation as stellar as Avalon’s through a complex and multi-faceted transaction involving their Bristol Hospice subsidiary,” said Todd Watkins, Partner of Edge Healthcare Partners. “By combining the Company’s strong management infrastructure and unwavering commitment to the delivery of quality and compassionate care with the financial resources and experience of Webster, we firmly believe that the Company is poised to further expand its market presence and premier reputation.”
The transaction highlights the depth and breadth of Edge Healthcare Partners’ knowledge, experience and expertise in the hospice and post-acute healthcare services sectors.
About Avalon Health Care
Based in Salt Lake City, Utah, Avalon Health Care Group is a closely-held diversified post-acute healthcare services provider that offers skilled nursing, therapy, senior living/assisted living and other medical services through approximately 90 owned, operated or managed facilities. Avalon is primarily located in the Western United States and currently provides care to patients and residents in the states of Arizona, California, Hawaii, Idaho, Oregon, Utah and Washington. For more information, visit the Avalon website, www.avalonhealthcare.com.
About Bristol Hospice
Founded in 2006, Bristol provides quality, compassionate hospice and palliative care services to meet the physical, psychosocial and spiritual needs of individuals at the end of life. The Company currently delivers its services to over 1,000 patients through 11 locations across seven states covering over 120 counties, and is a leading provider in its established markets. Bristol partners with national organizations and academic institutions to develop its best-in-class compliance programs and processes. For additional information on Bristol, please visit www.bristolhospice.com.
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm that invests in the branded consumer and healthcare services industries and provides equity financing, expertise and a broad contact network for management buyouts and growth capital. Webster is currently investing its third fund and has raised over $600 million of capital. For additional information on Webster Capital please visit www.webstercapital.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions The professionals of Edge Healthcare Partners have over 65 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare including healthcare services, healthcare information technology, distribution and life sciences. Securities are offered through Edge Corporate Finance, Member FINRA and SIPC. For more information, visit https://www.edgehcp.com/.