MCG Capital Corporation has closed a $23.7 million investment in Oceans Healthcare. MCG’s investment consists of a senior secured unitranche credit facility and revolving line of credit. Oceans Healthcare is a Louisiana healthcare company that specializes in the development and management of behavioral health services.
MCG Capital Corporation (Nasdaq: MCGC) (“MCG”) today announced the closing of a $23.7 million investment in Oceans Acquisition Inc. (“Oceans Healthcare”). MCG’s investment consists of a senior secured unitranche credit facility and revolving line of credit.
Oceans Healthcare is a Louisiana healthcare company that specializes in the development and management of behavioral health services. MCG’s investment is made in conjunction with the acquisition of Oceans Healthcare by General Catalyst Partners, a venture capital and growth equity firm with $2.2 billion under management. General Catalyst invests in both early and growth stage companies and partners with exceptional entrepreneurs who are building innovative companies and transforming industries.
About MCG Capital Corporation
MCG Capital Corporation is a solutions-focused commercial finance company providing capital and advisory services to middle-market companies throughout the United States. Our investment objective is to achieve current income and capital gains. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth and working capital.
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