Oceans Healthcare, a leading behavioral health services provider experiencing rapid growth, has secured a new capital partnership with Webster Equity Partners. This strategic move, announced on February 1, 2022, is set to propel Oceans Healthcare’s expansion and reinforce its commitment to delivering high-quality care in underserved markets across the nation. The partnership with Webster Equity Partners marks a significant milestone for Oceans Healthcare, enabling the organization to accelerate its mission and address the escalating demand for behavioral health services.
Founded nearly two decades ago, Oceans Healthcare initially specialized in geriatric behavioral health. Recognizing the broader spectrum of needs, the company has since broadened its services to encompass individuals of all ages and diverse diagnoses. Currently operating 33 locations in the Southeast, including 23 inpatient hospitals and 20 intensive outpatient programs, Oceans Healthcare has established a strong regional presence.
Fueled by strategic acquisitions, significant joint ventures, the development of new facilities, and the introduction of innovative services, Oceans Healthcare has effectively doubled its size since 2017. In the preceding year alone, the company demonstrated remarkable growth by opening five new behavioral health hospitals, acquiring and expanding its pharmacy services, and outlining plans for three additional locations. This impressive trajectory underscores Oceans Healthcare’s dedication to meeting the increasing needs within the behavioral health landscape.
Stuart Archer, CEO of Oceans Healthcare, expressed enthusiasm about the partnership, stating, “We’re proud of the footprint we’ve established so far, but we are nowhere near finished. The mental health impact of the pandemic has pushed already high demand for behavioral health services to crisis levels. This transaction allows us to expand our services and be a solution for underserved communities with decreasing or inadequate access to care. We’re fortunate to have the opportunity to leverage Webster Equity Partners’ expertise in our industry and value their support in achieving this goal.”
Todd Rudsenske, Partner at Webster Equity Partners, also commented on the new venture: “Oceans’ team has built a reputation among peers and the health care industry for quality leadership and patient advocacy. It’s clear they are driven by their core convictions and we’re passionate about supporting them as they expand desperately needed care.” This sentiment highlights Webster Equity Partners’ confidence in Oceans Healthcare’s operational excellence and patient-centric approach.
Reflecting on their previous investment, David Orfao, Partner at General Catalyst, shared, “We’ve supported Oceans for almost a decade as their leadership team gave life to their vision. It’s bittersweet as we leave them along their journey, but we know their work providing behavioral health care to in-need populations will have an immeasurable impact on communities and individuals for decades more to come.”
Houlihan Lokey acted as the exclusive financial advisor to Oceans Healthcare, and Baker Donelson provided legal counsel for the transaction, demonstrating the high-caliber professional support surrounding this partnership.
About Oceans Healthcare
Oceans Healthcare is committed to fostering healing and long-term recovery as a rapidly growing behavioral health provider. Established in 2004, Oceans delivers both inpatient and outpatient treatment programs, with a specialized focus on addressing the distinct physical and emotional needs of older adults. Operating across 33 locations, including 23 inpatient hospital campuses throughout the Southeast, Oceans Healthcare provided care to over 24,000 individuals in 2021. The company consistently achieves top industry performance metrics for national quality and safety standards, recognized by the Centers for Medicare and Medicaid Services (CMS) and The Joint Commission. Oceans Healthcare has also been recognized for its rapid growth, earning a place on the Inc. 5000 list of fastest-growing private companies in America for four consecutive years. For more detailed information, please visit www.oceanshealthcare.com.
About Webster Equity Partners
Webster Equity Partners, founded in 2003, is a private equity firm that specializes in healthcare services investments. With a focus on companies exhibiting high-impact growth strategies, Webster Equity Partners is dedicated to supporting organizations that deliver exceptional care and outstanding service within the healthcare sector. To learn more about Webster Equity Partners and their investment philosophy, please visit www.websterequitypartners.com.
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Amanda Maynord
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