This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CIT Serves As Sole Lead Arranger In Epic Health Services’ Acquisition Financing

CIT Group Inc. (NYSE: CIT), a leading provider of financing and advisory services to small businesses and middle market companies, today announced that it arranged and syndicated $90 million in senior secured credit facilities to support Epic Health Services’ acquisitions of Santé Pediatric Services and AmeriCare. Epic Health Services is a portfolio company of Webster Capital , a small-cap, control-oriented middle market private equity firm.

CIT Healthcare served as Sole Lead Arranger, Bookrunner and Administrative Agent for the transaction. Financing was provided by CIT Bank, a wholly-owned subsidiary of CIT.

“We are delighted to partner with Epic Health Services and Webster Capital in their continued growth,” said Steve Warden, President of CIT Healthcare. “This transaction further underscores our ability to successfully support the growth capital needs of our clients, as well as our continued commitment to providing financing and advisory solutions for middle market healthcare companies.”

John Garbarino, President and CEO of Epic Health Services, said, “CIT’s understanding of the services we offer resulted in dependability and added flexibility to our financing. We expect to grow our relationship with CIT Healthcare as we continue to expand our market-leading services to medically fragile children and adults in their homes.”

David Malm, Senior Partner and head of Webster Capital’s Healthcare practice, said, “With a substantial balance sheet and a proven ability to deliver promised results with certainty under a tight timeline, CIT Healthcare was the natural partner for us on this transaction.”

Editor’s Note:

Follow us on Twitter: @citgroup, on LinkedIn:, on YouTube:, and on Facebook: Individuals interested in receiving corporate news releases can register at or subscribe to the RSS feed at

About Epic Health Services

Based in Dallas, Texas and founded in 2001, Epic Health Services is a leading provider of pediatric home health and therapy services as well as geriatric in-home services. In conjunction with its Freedom Home Healthcare segment, the Company provides services to over 6,000 clients across five states. As the largest pediatric home health agency in Texas, Epic meets the private duty nursing and therapy needs of medically-fragile and chronically ill children.

About Webster Capital

Founded in 2003 and based in Waltham, MA, Webster Capital is a small-cap, control-oriented middle market private equity firm that seeks to invest in niche market leaders with a track record of organic growth and a proven business model. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital. Webster invests in branded consumer, business to business, and healthcare services companies out of its second fund with over $200MM in committed capital.

About CIT Bank

Founded in 2000, CIT Bank (Member FDIC) is a wholly-owned subsidiary of CIT Group Inc. (NYSE: CIT). It is regulated by the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions. As of September 30, 2012, CIT Bank had $8.6 billion of deposits and $11.6 billion of assets. CIT Bank makes loans without regard to race, color, religion, national origin, sex, handicap or familial status.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital as well as advisory services to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC),, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs