CIT Serves as Sole Lead Arranger in $47M Add-On Acquisition Financing for Epic Health Services

CIT Group Inc.

cit.com, a leading provider of commercial lending and leasing services, today announced that CIT Healthcare Finance served as Sole Lead Arranger, Sole Bookrunner and Administrative Agent in a $47 million incremental senior secured credit facility to support Epic Health Services' acquisition of Option1. Epic is a portfolio company of Webster Capital. Financing was provided by CIT Bank N.A., the principal bank subsidiary of CIT. Terms of the transaction were not disclosed. This is the fourth transaction that CIT has led for Epic Health Services (Epic) and complements the $210 million senior secured credit facility provided by CIT in support of Epic's acquisition of Loving Care Agency in March 2015. "Option1's primarily pediatric patient base is highly complementary to Epic's core business. The acquisition strengthens our presence in three states and adds three new states to our geographic footprint, creating a pediatric home healthcare business with national scale and significant market density," said Chris Roussos, Chief Executive Officer, Epic Health Services. "We appreciate having the partnership with CIT in pursuit of our growth objectives. Together, Option1 and Epic will serve approximately 26,000 patients across 15 states." William Douglass, Group Head and Managing Director, CIT Healthcare Finance, said, "CIT and Epic have built a strong relationship during the years we have been working together. Epic has been very thoughtful in their growth strategy, and we look forward to working with them as they continue to build the business." Will Duke, Managing Director, CIT Healthcare Finance, said, "Option1 is a premier enteral therapy platform with an impressive track record of growth, extensive referral network and outstanding reputation for quality of care. The acquisition of Option1 strongly complements Epic's current lines of business and positions the Company for continued penetration of new markets in the future." Based in Dallas, Texas, Epic is a leading provider of pediatric home health and therapy services, as well as behavioral/mental and adult in-home services. Headquartered in Phoenix, Arizona, Option1 is the largest independent provider of enteral nutrition therapy products and services in the U.S., serving over 6,000 clients across six states. Enteral nutrition therapy is the administration of nutrients directly into the gastrointestinal tract through a feeding tube.