General Catalyst Partners Acquires Oceans Healthcare
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General Catalyst Partners Acquires Oceans Healthcare

General Catalyst Partners has acquired Oceans Healthcare, a provider of behavioral health services. 

Oceans Healthcare is currently the largest behavioral health provider in Louisiana. The company focuses on providing gero-psychiatric treatment services to patients age 55 and older, and is focused on treating dementia-related or other progressive mental illness.  Oceans currently owns and operates 10 inpatient behavioral health hospitals in Louisiana as well as 10 intensive outpatient programs. The company was founded in 2004 and is based in Lake Charles, LA (www.ohcg.info). 

MCG Capital Corporation supported the acquisition of Oceans Healthcare by providing a $23.7 million senior secured unitranche credit facility and revolving line of credit.  MCG Capital is a commercial finance company providing capital and advisory services to middle-market companies throughout the United States. The firm typically invests in companies with $20 million to $200 million in revenue and $3 million to $25 million in EBITDA. MCG Capital is based in Arlington, VA (www.mcgcapital.com). 

General Catalyst Partners makes growth equity investments of $10 million to $50 million in companies that have from $3 million to $30 million of EBITDA.  Sectors of interest include clean energy; new media and internet; software, systems and services; consumer products; healthcare; and financial & business services. General Catalyst Partners has offices in Cambridge, MA and Palo Alto, CA (www.generalcatalyst.com). 

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-30-13

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